How to create your wallet

Eddycoin Wallet with 24 recovery words mainnet wallet – available now

This is the Eddycoin Wallet for the mainnet: Eddycoin Mainnet Wallet (Windows).zip on Downloads (unzip it and keep eddycoin_chain.json next to the program).

Create a wallet

1. Set a password. It unlocks the wallet on your computer.
2. Click Create new wallet. The wallet generates 24 recovery words for you (BIP39 standard, from your computer's secure random generator). You do not make them up yourself.
3. Write all 24 words on paper, in the right order, and tick “I have written all 24 words on paper”.
4. Retype 3 of the words the wallet asks for, to check that your paper copy is correct.
5. Optional extra word (a passphrase): you can add your own word or phrase, even one that does not exist in any dictionary. You enter it twice. Without it, the 24 words alone open the wallet.

Restore and view the words

• Restore from words: enter the 24 words (and the extra word, if you used one) and a new password. The wallet shows the restored address before it saves anything.
• Recovery words button: shows your words again after you enter your password.
• Forgot the password? Restore the wallet from the words and set a new password.

Technical details

• Keys are ECDSA P-256 (the curve Eddycoin signs with), derived with SLIP-0010 on the path m/44'/3339'/0'/0/0 (3339 spells “EDDY” on a phone keypad). Addresses keep the format eddy1 + 40 hex characters.
• The words are never stored unencrypted: they are kept inside the wallet file, encrypted with your password (PBKDF2-SHA256, 600,000 rounds + AES-256-GCM). The extra word is never stored anywhere.

Use your address with the miners

Copy your address (eddy1…) from the wallet and paste it into Eddycoin CPU Miner and Eddycoin GPU Miner, then press START. A checkpoint (and its reward) needs one E-Chain block from a CPU miner and one D-Chain block from a GPU miner. Only the address goes into the miners – never the words or the password.

How the lanes, the pool (2 % fee) and the difficulty work: Mining. Downloads: mainnet wallet and miners.

See your balance

Open the wallet (no password needed for viewing) or search for your address in the Explorer. Pending = your block is in a checkpoint candidate that is not finalized yet; finalized = the checkpoint with your block is on the Y-Chain. Pool mining pays out from 1 EDDY after 6 checkpoint confirmations.

Send EDDY

1. Click Send EDDY, enter the recipient address (format eddy1 + 40 hex characters is checked), the amount (up to 8 decimals) and an optional note.
2. The dialog shows the fee (0.01 EDDY) and the total. Confirm with your password.
3. The password decrypts the key in memory only; the transaction is signed on your computer and only the signed transaction is sent to the network. The signature includes the mainnet chain id, so it is valid only on eddycoin-mainnet-1.
4. Status: unconfirmed → in checkpoint candidate → finalized (needs miners to produce the next checkpoint).

Every node checks the signature, that the inputs exist and belong to you (no double spend), the fee and value conservation.