Very good explanation spin.
Thanks! 
Topic: Perhaps a stupid question... Paper backups, how effective are they? (Read 598 times)
January 08, 2014, 06:25:44 AM
January 08, 2014, 04:01:26 AM
Very good explanation spin.
January 08, 2014, 03:50:20 AM
Armory uses deterministic wallets. So if knows the first private key and what is called the chain code it can calculate all addresses. Unless you have manually imported private keys from other sources.
When checking balances It calculates the first N number adresses since the last addresses with an transaction to checks if they have had transactions. If it can't find any transactions it stops.
So if you have generated lots of adresses and not had any transactions on them and then had a transaction after N number of addresses then you may just need to generate more receiving addresses on your restored wallet to see the balance. Or change the value of N. N is a 100 or 200 by default I think and is changeable in Armory settings.
All tagged labels etc are lost with a paper backup though.
When checking balances It calculates the first N number adresses since the last addresses with an transaction to checks if they have had transactions. If it can't find any transactions it stops.
So if you have generated lots of adresses and not had any transactions on them and then had a transaction after N number of addresses then you may just need to generate more receiving addresses on your restored wallet to see the balance. Or change the value of N. N is a 100 or 200 by default I think and is changeable in Armory settings.
All tagged labels etc are lost with a paper backup though.
January 07, 2014, 09:16:47 PM
If I back up my wallet, that has created 10+ addresses, then I lose my computer.
And I restore my wallet using the paper backup.
Will the wallet know what addresses I made?
How does this work exactly? What if I made 200 addresses? Do I have to manually make 200 addresses on my restored account and will they be the same as the one on the original wallet?
Thanks for help here, I am a bit stupid when it comes to wallets. New to Armory.
And I restore my wallet using the paper backup.
Will the wallet know what addresses I made?
How does this work exactly? What if I made 200 addresses? Do I have to manually make 200 addresses on my restored account and will they be the same as the one on the original wallet?
Thanks for help here, I am a bit stupid when it comes to wallets. New to Armory.
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