How can a 24 word seed know when I added or removed wallets at a later point?

How can a 24 word seed know when I added or removed wallets at a later point?

Since I do not have 50 Rep points I had to post my question this way!

This is an answer by "https://bitcoin.stackexchange.com/users/56917/rstack" to the question "How do Ledger Backups get stored?"

"Using words to back up wallets is a process described in BIP 39.

Basically, the mnemonic is converted into a seed. This seed is then used as the seed to a Heirarchical Deterministic (HD) wallet, as laid out in BIP 32. The seed is used to generate a Master Extended Private Key, from which all other private keys can be generated. The child key generation follows the standard of BIP 44 so it is compatible with other wallets too.

Thus, by backing up your mnemonic words, any time you enter them in a wallet, it can recreate the seed, then the master private key, then all your other keys, so your wallet is back."

When I start my Ledger for the first time I get a generated 24 word seed. At this point my Ledger has the default wallets (BTC, ETH, LTC) if any. From Rstack's answer I get how this works or could work so far, BUT how does my 24 word seed know the future when I add or remove wallets? The 24 word seed does not change after I add or remove wallets. Randomly generated public and private keys that are created in the future can no way have ties to a previously generated 24 word seed. Does not make sense!

Unless this can be explained I am going to have to assume that my public and private keys are stored somewhere and retrieved by the 24 word seed.

Can anyone shed light on this? Thanks in advance and cheers everyone.

http://ift.tt/2DJLiKs

Comments

Post a Comment

Popular posts from this blog

Bitcoin Core errors with database block

Bitcoin Core errors with database block I've had the follow issue: on one machine I've launced Bitcoin Core v0.16.0 and Litecoin Core v0.16.0. Each application work in separate datadir also each application have setted callback call for event walletnotify . For now I use both application with testnets. Recently, there have been frequent cases when these applications stop sending transactions, when restarting, an error occurs: "Corrupted block database detected. Do you whant to rebuild the block database now ?". It happens on both apps Bitcoin Core and Litecoin Core, after rebuild applications continue to work, but after a while it happens again Please help me, what I doing wrong? Thank you for any advice https://ift.tt/2z6j9rL
Read more

Bitfinex & Market Synergy To Offer Institutional Calibre Cryptocurrency Connectivity

Bitfinex & Market Synergy To Offer Institutional Calibre Cryptocurrency Connectivity Market Synergy GmbH , a Swiss-based organisation which offers institutional cryptocurrency connectivity and security for banks, brokers and hedge funds has been selected by  Bitfinex  to provide robust, high performance connectivity for institutional clients. Market Synergy has designed and built a bespoke network for Bitfinex, hosted in a Swiss data centre in the heart of Crypto Valley. In addition to providing outsourced connectivity and hosting services to Bitfinex, Market Synergy can also manage co-location services for Bitfinex’s institutional clients and offer a FIX feed and ISP link to the digital asset gateway which Bitfinex recently launched in collaboration with Connamara . Market Synergy is a separate company within the FXecosystem Group , which also comprises of FXecosystem and Bondecosystem, both of which are institutional market leaders in outsourced connectivity in their r
Read more