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nadams 2017-05-18 12:41:23 -07:00
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@ -108,7 +108,7 @@ If you are implementing a bitcoin wallet, it should be built as a HD wallet, wit
==== Using a Bitcoin Wallet ==== Using a Bitcoin Wallet
((("wallets", "using bitcoin wallets")))In <<user-stories>> we introduced Gabriel, an enterprising young teenager in Rio de Janeiro, who is running a simple web store that sells bitcoin-branded t-shirts, coffee mugs, and stickers. ((("wallets", "using bitcoin wallets")))In <<user-stories>> we introduced Gabriel, ((("use cases", "web store", id="gabrielfive")))an enterprising young teenager in Rio de Janeiro, who is running a simple web store that sells bitcoin-branded t-shirts, coffee mugs, and stickers.
((("wallets", "types of", "hardware wallets")))Gabriel uses a Trezor bitcoin hardware wallet (<<a_trezor_device>>) to securely manage his bitcoin. The Trezor is a simple USB device with two buttons that stores keys (in the form of an HD wallet) and signs transactions. Trezor wallets implement all the industry standards discussed in this chapter, so Gabriel is not reliant on any proprietary technology or single vendor solution. ((("wallets", "types of", "hardware wallets")))Gabriel uses a Trezor bitcoin hardware wallet (<<a_trezor_device>>) to securely manage his bitcoin. The Trezor is a simple USB device with two buttons that stores keys (in the form of an HD wallet) and signs transactions. Trezor wallets implement all the industry standards discussed in this chapter, so Gabriel is not reliant on any proprietary technology or single vendor solution.
@ -141,7 +141,7 @@ By writing down this mnemonic, Gabriel created a backup (see <<mnemonic_paper_ba
A 12-word mnemonic is shown in <<mnemonic_paper_backup>>, for simplicity. In fact, most hardware wallets generate a more secure 24-word mnemonic. The mnemonic is used in exactly the same way, regardless of length. A 12-word mnemonic is shown in <<mnemonic_paper_backup>>, for simplicity. In fact, most hardware wallets generate a more secure 24-word mnemonic. The mnemonic is used in exactly the same way, regardless of length.
==== ====
For the first implementation of his web store, Gabriel uses a single bitcoin address, generated on his Trezor device. This single address is used by all customers for all orders. As we will see, this approach has some drawbacks and can be improved upon with an HD wallet. For the first implementation of his web store, Gabriel uses a single bitcoin address, generated on his Trezor device. This single address is used by all customers for all orders. As we will see, this approach has some drawbacks and can be improved upon with an HD wallet.((("", startref="gabrielfive")))
=== Wallet Technology Details === Wallet Technology Details
@ -400,7 +400,7 @@ image::images/mbc2_0511.png["ChildPublicDerivation"]
==== Using an Extended Public Key on a Web Store ==== Using an Extended Public Key on a Web Store
((("wallets", "technology of", "using extended public keys on web stores")))Let's see how HD wallets are used by continuing our story with Gabriel's web store. ((("wallets", "technology of", "using extended public keys on web stores")))Let's see how HD wallets are used by continuing our story with Gabriel's web store.((("use cases", "web store", id="gabrielfivetwo")))
Gabriel first set up his web store as a hobby, based on a simple hosted Wordpress page. His store was quite basic with only a few pages and an order form with a single bitcoin address. Gabriel first set up his web store as a hobby, based on a simple hosted Wordpress page. His store was quite basic with only a few pages and an order form with a single bitcoin address.
@ -418,7 +418,7 @@ To export the xpub, Gabriel uses the web-based software in conjunction with the
.Exporting an xpub from a Trezor hardware wallet .Exporting an xpub from a Trezor hardware wallet
image::images/mbc2_0512.png["Exporting the xpub from the Trezor"] image::images/mbc2_0512.png["Exporting the xpub from the Trezor"]
Gabriel copies the xpub to his web store's bitcoin shop software. He uses _Mycelium Gear_, which is an open source web-store plugin for a variety of web hosting and content platforms. Mycelium Gear uses the xpub to generate a unique address for every purchase. Gabriel copies the xpub to his web store's bitcoin shop software. He uses _Mycelium Gear_, which is an open source web-store plugin for a variety of web hosting and content platforms. Mycelium Gear uses the xpub to generate a unique address for every purchase. ((("", startref="gabrielfivetwo")))
===== Hardened child key derivation ===== Hardened child key derivation