Hey there!
I have a question related to the paper wallet functionality of Daedalus. As I understood, quite some backend code will change once full decentralization will be in place. Will we have to “upgrade” our paper wallets for them to work with the Shelley update? By that I mean will we have to create a new paper wallet in Daedalus and transfer our ADA from the old paper wallet to the new one? The roadmap explanation and the latest videos talking about full dezentralization were a little bit unclear concerning this point. There might be an obvious answer but it’s not apparent to me at all.
Can’t say with absolute certainty but this is very, very unlikely IMO. What matters is the secret key that is encoded in the seed phrase, and that’s not going to change. So I’m saying no, but don’t sue me!
Paper Wallet Version 2 :
“To improve security, version 2 will allow the offline creation of paper wallets and will not require Daedalus to be synchronized with the blockchain. The new single-address scheme will be used but the restoration of paper wallets will retain compatibility with version 1 of paper wallet certificates. Daedalus will also support the restoration of paper wallets in read-only mode for audit purposes which will keep the private key stored safely offline.”
So, apparently, you won’t have anything to change. Paper wallet version 1 still up and running.
Okay, I see. I was wondering whether there is any benefit/incentive to switch to the newer single-address scheme once it will be available? But I guess as long as we always will have the possibility to import current paper wallets it doesn’t really matter. Thanks!
