From 0697ed8fb34bf8fc79698df5846c7f7c31d5c0a3 Mon Sep 17 00:00:00 2001 From: Matias Alejo Garcia Date: Mon, 14 Sep 2015 15:58:02 -0300 Subject: [PATCH] Update README.md --- README.md | 10 +++++++++- 1 file changed, 9 insertions(+), 1 deletion(-) diff --git a/README.md b/README.md index 759107563..e0d8fdcd7 100644 --- a/README.md +++ b/README.md @@ -98,7 +98,15 @@ Copay also implements [BIP32](https://github.com/bitcoin/bips/blob/master/bip-00 For more information regarding how addresses are generated using this procedure, see: [Structure for Deterministic P2SH Multisignature Wallets](https://github.com/bitcoin/bips/blob/master/bip-0045.mediawiki). -## Backup format +## Copay Backups and Recovery + +Copay v1.2 use BIP39 mnemonics for backing up wallets. The standard BIP44 is used for wallet address derivation. Multisig wallets uses P2SH address, while non multisig wallets use P2PKH. + +Information about Backup and recovery procedures is available at https://github.com/bitpay/copay/blob/master/backupRecovery.md + +Previous versions of Copay use files as backups. See the following section. + +## Wallet Export format Copay encrypts the backup with the [Stanford JS Crypto Library](http://bitwiseshiftleft.github.io/sjcl/). To extract the private key of your wallet you can use https://bitwiseshiftleft.github.io/sjcl/demo/, copy the backup to 'ciphertext' and enter your password. The resulting JSON will have a key named: `xPrivKey`, that is the extended private key of your wallet. That information is enough to sign any transaction from your wallet, so be careful when handling it!