In the context of cryptocurrency wallets, a seed phrase that also called a recovery phrase or mnemonic phrase is a set of words that are generated when a user creates a new wallet. The seed phrase typically consists of 12-24 random words in a specific order, which are used to derive the private keys that control the user’s cryptocurrency holdings.
It’s important to keep the seed phrase secure and private, as anyone who knows the phrase can gain access to the user’s cryptocurrency funds. Seed phrases can also be used to recover a lost or damaged wallet by restoring the private keys associated with the wallet. Users are typically instructed to write down their seed phrase on a piece of paper and store it in a secure location, such as a safe or safety deposit box.
How are these words created? What is the standard of word production?
The standard way of producing a seed phrase in a cryptocurrency wallet is through a process called mnemonic code generation.
This process involves the generation of a set of random words from a predetermined list of words, usually from a list of 2048 or more words, such as the BIP39 word list. The number of words in a seed phrase can vary, but 12 and 24-word phrases are most common.
The words are chosen randomly and in a specific order so that the resulting combination can be used as a cryptographic seed to derive a set of private keys. The resulting set of private keys can be used to control one or more cryptocurrency addresses associated with the wallet.
Most cryptocurrency wallets that use a seed phrase will generate the phrase automatically for the user during the set-up process. It’s important for users to write down and store their seed phrase securely, as it’s the key to their wallet, and losing it can result in the permanent loss of access to their cryptocurrency funds.
The standard for seed phrase production in cryptocurrency wallets is called BIP-39 (Bitcoin Improvement Proposal 39). BIP-39 defines a standard method for creating a mnemonic phrase, which is a list of words that can be used to create a deterministic wallet.
The BIP-39 seed phrase consists of 12 or 24 words selected from a list of 2048 words. The words are chosen in a specific order, and the phrase is used to generate a master private key, which can in turn generate all the private keys for the wallet. Using BIP-39 ensures that the seed phrase is interoperable with other wallets and can be used to recover the wallet in case of loss or damage. It also provides a standard way to generate a secure seed phrase that is resistant to dictionary attacks and other types of threats.
But we have other standards called BIP32 and BIP44 that you can read about. BIP39 is a common and useful standard in crypto wallets.
Please note that a BIP39 seed phrase created with appropriate randomness cannot be guessed through brute force, because there are simply too many permutations.
Guessing the words to recover a wallet is impossible
for example: since Bitcoin uses RIPEMD160 hash function, we will have 2^160 Bitcoin addresses.
You might be interested to know 2^160 = 1,461,501,637,330,902,918,203,684,832,716,283,019,655,932,542,976
This number is so big that it might be interesting to refer to it as astronomical.
Therefore, there are 12^2048 possible modes to obtain recovery words of a wallet address
It isn’t necessary to know all the details of BIP39 in order to use cryptocurrency - but you would certainly benefit from knowing a little about it.
You can see the whole list of words in the file below
Whenever a new address is generated, it actually means that a new public key and a new private key or rather a new keypair are generated. So, every new public address definitely brings a new private address(private key), but in Deterministic wallets that use the BIP39 standard and Derivation Schemes like BIP32 or BIP44, there is this ability to recover from the main keypair or recovery words (Seed or Mnemonic). Create hundreds of new keypairs without having to store new private keys.
Therefore, with a series of recovery words, you will have hundreds of addresses that can be used for different use, and because they are made with a specific derivation pattern from the main key or seed words, there is no need to store them and, if needed, from the same words or Master Key again are made and generating keypairs or even seed words has nothing to do with the network and blockchain, you can create a standard keypair offline and safely deposit it to the public address!
But you will have a private key address for each added address from your collection of addresses in klever Wallet
It might be better if you always have your private keys for your active wallet in addition to these 12 words. This will help you to use your private key wherever you want to use your wallet regardless of the platform that created it, you have done
How to import an Account using a Private Key in K5 Wallet:
How to backup K5 Wallet(Seeds phrase and Private keys):
How to recover additional Accounts after Restoring Wallet in K5:
How to recover additional Accounts after Restoring Wallet in K5
Please note that Klever wallet is a decentralized p2p and self-custody wallet, putting the private keys in the hands of their users. This means that the users have total and full control of their private keys and seed phrase so that the Klever team cannot at any time or in any way access users’ funds or view their security information such as private keys or seed phrase.
Therefore any inaccessibility due to loss of security information such lost of recovery words or private key of your wallet, klever team will not be able to recover your assets. As explained, klever Wallet is a decentralized wallet.
Professionals usually write their recovery words in metals to keep their seeds(words) more secure, which you can research on the internet.