Open BenWestgate opened 9 months ago
My current plan is the stateless offline Bails signing wallet will be the masterkey of the Root Seed, while Online Bails private keys enabled wallets, both plaintext or watch encrypted, real or decoys would be BIP85 children. Some function to create children for HWWs and mobile wallets is possible.
Another function for you to generate with BIP85 a share for your friends and family who ask you to be part of their seed SSS is also possible.
This means the share you hold from them has the loss and theft protection of your whole m-of-n seed backup not a single point of failure.
Secret recovery phrase creation without the need to backup: An individual can create child secret recovery phrases for elderly parents or their kids who are unable to store or secure secret recovery phrases.
This goes a step beyond producing a share to help someone to producing the whole wallet masterkey. I dislike the centralization of this mode.
In the future I also plan to add BIP85 functionality so I can generate something like this.
Originally posted by @aido in https://github.com/LedgerHQ/ledger-nano-s/issues/54#issuecomment-1536904989