I am very concerned with the possibility that someone at random can access my Daedalus wallet with 12 words of recovery and can steal my Ada.
I propose to the community to put an exponential variable rate every time you try to try 12 random words to see if you can have free access to any wallet at random. I would avoid having thousands of people trying to access random accounts without paying at least 50 Adas.
Another thought that I would like that the Daedalus and yoroi wallets could have the number of times the same wallet appears on different devices since it would alert owners if there is someone who can have their seeds randomly. Since it is a way to play the lottery for free no matter how remote it is the possibility of finding the 12 words. Who wouldn’t play the lottery for free?
Your assumption is correct: whoever guesses your seed words has access to your wallet. But, you underestimate the number of possibilities.
And to get an idea of the number of possibilities please watch this video. It is really mind-blowing:
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Cardano only has 128 bit security, to be precise, theoretically it has around 125.8 bits, but to achieve to crack that 125.8 bits is much more expensive than to achieve a brute force attack on 128 bits.
So, therefore it has 128-bit security level.
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I’m sorry @_ilap , I remember that you wrote this answer in another thread, where I did post this video.
So, to get the right idea @Cupierjack, in the video above you have to skip the last multiplier to get 128-bit security.
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