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Topic: Whats the point of the 20 words seed phrase (Read 42 times)

legendary
Activity: 1512
Merit: 4795
Leading Crypto Sports Betting & Casino Platform
November 17, 2024, 12:25:35 PM
#3
Hi guys i want to know whats the benefits of this new 20 words seed phrase created by Trezor
It is not seed phrase. It is Shamir secret sharing. If you go for 1 share, no difference at all. It is useless. But if you go for more shares, you will need the the minimum required number of shares to recover your coins. Example is if the shares are 3 and you need 2 minimum, if someone get access to 1, the person can not access your coins unless he founds the two. But I will prefer to use seed phrase and passphrase instead.

If you use the Shamir’s Secret-Sharing method to secure your seed phrase in multiple locations it's more secure than a 12-word seed phrase and encodes more data in checksums.
It depends. The seed phrase can be extended with passphrase which is also very safe if the passphrase is strong. This will not let me use Shamir secret sharing.
copper member
Activity: 2338
Merit: 4543
Join the world-leading crypto sportsbook NOW!
November 17, 2024, 10:51:22 AM
#2
Hi guys i want to know whats the benefits of this new 20 words seed phrase created by Trezor
I mean according to what i did understand from this is that you will have multiple shares of the seed
but you can do the same with the 12 words or 24 words i can simply split that to 3 or 4 shares of papers and
share each one with a trusted person  Roll Eyes

Math.

If you use the Shamir’s Secret-Sharing method to secure your seed phrase in multiple locations it's more secure than a 12-word seed phrase and encodes more data in checksums.

Each Recovery Share is a 20-word list where:

The first two words are random, but the same for all shares in one backup
The third and fourth words contain information about share groups and the group threshold
The following 13 words (i.e., word 5 to 17) represent the actual seed
The final three words (i.e., word 18 to 20) form the SLIP39 checksum

Also this:

Why introduce a 20-word wallet backup (also known as Single-share Backup)?
We believe the 20-word standard is an evolution of the previous standard (12 and 24-word wallet backup) with many significant improvements. It includes:

Upgraded wordlist for easy recall and recovery: All words in the enhanced standard are carefully chosen to be highly distinguishable from each other in terms of spelling and pronunciation, simplifying the backup and recovery process. For example, the legacy backup wordlist contains similar words like “all,” “wall,” “fall,” “call,” and “ball,” making it easy to write down incorrect words and jeopardize wallet security.

Stronger checksum for enhanced fault tolerance: The enhanced standard utilizes the last three words as a checksum, providing better protection against errors. This allows users to identify and correct mistakes more easily, ensuring a more robust backup.

Faster typing with optimized word selection: The words in the upgraded wordlist are selected so they require fewer keystrokes and have simpler patterns, making them quicker to type on a T9 keyboard. This reduces the time required for data entry and improves user efficiency.
newbie
Activity: 48
Merit: 0
November 17, 2024, 10:38:41 AM
#1
Hi guys i want to know whats the benefits of this new 20 words seed phrase created by Trezor
I mean according to what i did understand from this is that you will have multiple shares of the seed
but you can do the same with the 12 words or 24 words i can simply split that to 3 or 4 shares of papers and
share each one with a trusted person  Roll Eyes
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