After importing a key, does spending the cash take away them from the paper pockets?

on

|

views

and

comments


Importing a pockets (by personal key or different means) doesn’t contain any on-chain operations, and if a number of pockets cases are loaded with the identical personal keys, then ALL of these wallets have management over the funds of the pockets.

In a extra concrete instance, let’s assume you’ve gotten a paper pockets, that’s, you’ve gotten a non-public key saved on paper, and that the related tackle has some optimistic stability. In the event you import this personal key right into a pockets software program, that pockets will be capable to spend the funds. In the event you import to a different pockets (one other software program, one other time, one other occasion), each wallets will be capable to spend these funds.

The right strategy to forestall management from a number of wallets:

  • Create a brand new pockets B (and backup keys)
  • Import the paper pockets key right into a pockets, and switch all funds to pockets B. It will create a transaction within the blockchain.
    After this the paper pockets will likely be ineffective, as it’s going to have zero funds left to manage.

On an identical notice, if I’ve a pockets with some funds which I wish to give it to you, the ‘unsuitable’ resolution is to provide the pockets keys, as a result of then each of us will be capable to spend the funds, which may result in battle/misunderstanding. The right, ‘Bitcoin’ means is to switch my funds to your pockets (which has totally different keys).

Share this
Tags

Must-read

Waymo raises $16bn to gas international robotaxi enlargement | Know-how

Self-driving automobile firm Waymo on Monday stated it raised $16bn in a funding spherical that valued the Alphabet subsidiary at $126bn.Waymo co-chief executives...

Self-driving taxis are coming to London – ought to we be anxious? | Jack Stilgoe

At the top of the nineteenth century, the world’s main cities had an issue. The streets had been flooded with manure, the unintended...

US regulators open inquiry into Waymo self-driving automobile that struck youngster in California | Expertise

The US’s federal transportation regulator stated Thursday it had opened an investigation after a Waymo self-driving car struck a toddler close to an...

Recent articles

More like this

LEAVE A REPLY

Please enter your comment!
Please enter your name here