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Wallet Security
Seed Phrase
Your seed phrase is the master key to your wallet. Anyone with it can access your funds.
Secure Seed Phrases and Passphrases in Lethean
A seed phrase (also known as a recovery phrase or mnemonic phrase) is a set of words generated by your wallet that gives you access to the funds associated with that wallet. In Lethean, a seed phrase consists of 24 to 26 words chosen from a standardized list of 1626 words. This phrase is all you need to recover your funds if you lose access to your wallet.
A passphrase is an additional layer of security that can be added to your seed phrase. When used together, the seed phrase and passphrase create a two-factor authentication system for accessing your wallet. Here’s a detailed explanation of how a seed phrase secured with a passphrase works:
Seed Phrase
Generation
- When you create a new wallet, the wallet software generates a large random number.
- This number is then converted into a sequence of words using a standardized deterministic algorithm.
- The sequence of words (seed phrase) is displayed to you. It’s crucial to write it down and keep it secure, as anyone with access to this phrase can control your funds.
Function
- The seed phrase is a human-readable representation of your private keys. It can be used to regenerate your wallet and access your funds.
- It serves as a backup. If your device or file is lost, stolen, or damaged, you can use the seed phrase to restore your wallet on another device.
Passphrase
Adding a Passphrase
- When setting up your wallet, you have the option to add an additional passphrase (in Lethean it is called Secured Seed).
- This passphrase can be any string of characters you choose. Unlike the seed phrase, which is generated by the wallet, the passphrase is chosen by you.
Security Enhancement
- The passphrase is combined with the seed phrase to create a new, more secure key. This new key is used to generate your wallet’s addresses and private keys.
- Without the passphrase, even if someone obtains your seed phrase, they won’t be able to access your funds.
Usage
- Every time you restore your wallet, you will need to enter both the seed phrase and the passphrase.
- If you forget the passphrase, you won’t be able to access your wallet, even with the seed phrase. Therefore, it’s essential to remember or securely store the passphrase.
Benefits
- Enhanced Security: The passphrase acts as a second factor of authentication, making it significantly harder for someone to steal your funds.
- Privacy: Even if someone sees your seed phrase, they cannot access your wallet without the passphrase.
Risks
- Loss of Passphrase: If you forget or lose the passphrase, you will be permanently locked out of your wallet.
- Complexity: Managing an additional passphrase can be cumbersome and may lead to user errors if not handled properly.
Recovering a Corrupted Seed Phrase
If your seed phrase isn't working during wallet restoration, you may have written down a word incorrectly or swapped two adjacent words. Lethean's CLI wallet includes an experimental Seed Doctor tool that can attempt to fix these common mistakes.
Passwords
Different Password Types in Lethean Wallets
When managing Lethean wallets, utilizing multiple password types enhances security and convenience. Each password serves a unique purpose:
Wallet Password
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Purpose: This is the basic level of security for your Lethean wallet file.
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Use Case:
- If you run your Lethean wallet on a remote server for staking, the wallet password protects the wallet file from unauthorized access.
- When opening your wallet locally on a GUI wallet, the wallet password is required on the first launch. If the master password is enabled, the wallet password will be stored and not required for subsequent launches.
Seed Phrase Password (Also Known as Passphrase)
- Purpose: Adds an additional layer of security.
- Use Case: For paper wallets stored offline, the seed phrase password (or passphrase) ensures that even if someone gains physical access to your Lethean wallet, they cannot immediately compromise it.
Master Password
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Feature: This is primarily a feature in Lethean GUI wallets.
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Benefit:
- Allows users to bypass entering individual wallet passwords every time they open the application, and it secures all GUI data, including secrets and ports that allow connections to the Lethean browser extension.
- Particularly useful for users operating multiple Lethean wallets, as it eliminates the need to enter each wallet password repeatedly on every launch.
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Convenience: Simplifies access and enhances usability, especially when managing multiple wallets.
Why Multiple Passwords?
- Enhanced Security: Each password layer adds a level of security that protects against different potential threats.
- Convenience: While managing multiple passwords may seem cumbersome, features like the master password provide convenience and ease of use, balancing security with user experience.
Key Points
- Security Best Practices: It's crucial to use strong, unique passwords for each security layer.
- Backup and Recovery: Ensure all passwords and seed phrases are backed up in secure locations. Losing access to these could mean losing access to your Lethean assets.