DigiByte + DigiAssets wallet compatibility

A little history on SPV wallets

Back in the day when hierarchical deterministic wallets were being created (Wallets where you only need to back up a master seed once), the standard was to include the phrase “Bitcoin seed” in this BIP32 seed key.

You don’t want to restore DigiAssets to a wallet that doesn’t support it

As we mentioned during the LiveStream, when you send a DigiAsset, it sends a small amount of DigiByte along with the asset:

0.000006 DGB sent with the asset

How will this work going forward then?

Well, as I mentioned earlier, I’ve already personally been in contact with a number of wallet vendors who have expressed interest in supporting DigiAssets.

  1. Not gathering / using inputs that contain a DigiAsset
    (The method for this will vary from wallet to wallet, but information on what to look for can be found on GitHub on the Protocol Specifications)
  2. Not showing the balance of these DigiAsset inputs (The 0.000006 DGB shouldn’t be counted as a “spendable” balance) in the wallet balance.
  3. Changing the seed from “Bitcoin seed” to “DigiByte seed
    The derivation path should also be updated, where others predominantly use m/44'/20'/0' this should be m/0'
  1. Multicoin wallets will likely generate a new “DigiByte + DigiAssets” coin type that specifically uses this “DigiByte seed” for address generation and is aware of handling DigiAssets
  2. Single coin wallets will likely release a second “app” or possibly a “mode” (Like an on / off switch perhaps) for their wallet which specifically supports DigiAssets.

Won’t that be a bit of extra work?

Yes, it will, but not too much, and we are confident in the long term that the payoff will be worth it as DigiAssets gets off the ground and sees a groundswell of implementation and users.

How will I know if my wallet supports this, and isn’t going to accidentally spend my DigiAssets?

The long story short is: You shouldn’t worry about this.

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Josiah Spackman

Josiah Spackman

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I write interesting things about cryptocurrency, especially DigiByte