Simple wallet vs Brain wallet?


#1

Ive been struggling to understand how brain wallet works in NEM network and so far I can se no differences between it and simple wallet.
I understand the general idea of brain wallet but I cant see actual usage in NEM case.

So far I can see that there is no difference, because brain wallet paraphrase works just like password in simple wallet. There is also no way to restore the wallet using only paraphrase. While creating an account, Acc safety warning looks exactly the same in both.

I know I might be missing something big but can anybody please explain me if there are differences? If there are, is it more secure?


#2

Yes there is. To access the brainwallet you only need the passphrase.

Nope. :slight_smile:
If it is the same then there is something not working right on your end. For me it shows two different warnings which makes sense. One warning is about the dangers of creating a key in the browser (for simple wallet), the other warning is about using a safe password since that’s essentially your private-key (for brain wallet).


#3

Can you then tell me how to do that pls?


#4

It looks the same yes, as with both wallets, you end up with a “.wlt” file and a password. However, they are different.

The “.wlt” file that is generated when creating brain wallet does not need to be saved. (Always save the simple wallet .wlt though). Try using the same brain wallet password when creating a new wallet, you will notice you only needed your password, and yet you restored your account.


#5

Thanks I get it now.

I ment the warning that shows after clicking create acc. It’s the same on both.


#7

I don’t understand, isn’t a brain wallet a wallet without a private key? isn’t your password your private key? when i create a brain wallet it also makes me write down a private key.


#8

It’s your passwords hashed a few times. If you got your password that’s enough when using a brainwallet.


#9

To understand how brain wallet works - you should try them:
https://brainwallet.io
https://bitcoinofficial.org
https://www.bitaddress.org