While it can't be verified if they really only store the encrypted version, it would probably be more secure to check their github[1]
and download/compile the 'wallet' yourself.
This way you at least know what code is running in your browser.
[1] https://github.com/OmniLayer/omniwallet/
Topic: OmniWallet.org online wallet - how it works? (Read 143 times)
My guess: the private-key is decrypted (with your password) and temporarily stored locally. You are the one signing the transaction.
Edit: jackg came here first ;(
Edit: jackg came here first ;(
Their page says https://www.omniwallet.org/about
So how then they can sign transaction from address, if private key is encrypted ?
Quote
Private keys are never sent to the server except in an encrypted form
So how then they can sign transaction from address, if private key is encrypted ?
Ideally, most of these things work by having you give a password that decrypts the encrypted private key.
Such that, your addresses can be accessed, but all they have are strings of encrypted private keys, which only your password can decrypt. so it's you who signs the message from your end (instead of them).
Their page says https://www.omniwallet.org/about
So how then they can sign transaction from address, if private key is encrypted ?
Quote
Private keys are never sent to the server except in an encrypted form
So how then they can sign transaction from address, if private key is encrypted ?
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