Thinking about naming conventions to use for Firefly to distinguish between different tiers. After a call yesterday, we landed on:
– Device
—> Root Key (mnemonic/seed phrase)
----> Address (wallet)
A single Firefly device can have multiple root keys. Each root key can have multiple addresses/wallets.
The current setup for most hardware wallets is that you have a single root key per device. A key feature of Firefly is that you can have multiple root keys per device.
First — LOVE the fact that Firefly supports multiple root keys, that is a major advantage over any other hardware wallet I use. No need to have a collection any more …
Adam has been building an open source, privacy-preserving address book (rolod0x) — he’s been thinking through an open source standard for naming wallets. I’m not sure where he stands on the effort, but I am sure he’d love to share what he’s learned and see how it might be useful to Firefly <3
Agree that this is a great USP for Firefly - it’s crazy that other hardware wallets don’t support this!
In terms of naming, I think ideally users should be free to name each root key and derived key however they want, as text strings.
However I also think it’s very beneficial if the wallet can surface to the owner (and to no one else) which root key and derivation path is used for each derived account.