You’ll need to unstake your pNode then restake with your own 1750 PRV stake, using the validator key from Anon or (preferably) another master keychain.
It’s unclear if the devs are working on a solution to migrate existing Node keychains to a master keychain without the unstaking step. Seems unlikely. It the absence of a definitive post from Incognito devs/team on the subject, it’s probably best to proceed as though this will not be a possibility in the short term or long term.
The node was already unstaked. I was able to re-add it as an existing node, however I’m unable to restake without importing the original private key. This private key only appears to allow for import as a standalone key, or ‘underneath’ the original masterless key.
I cannot find any option to allow importing the pNode private key under my new HD master key.
The only thing I haven’t tried is a factory reset of the pNode, the re-adding as a new pNode.
Hi @sysfu, a Node that was set up before this HD wallet release will stick with its assigned keychain. That keychain is now marked under the “masterless” category in the app.
It is impossible to migrate (have the pnode backed up under a Master key) at this moment.
It is theoretically possible to unstake, reset the pNode to factory fresh, then re-provision it under my HD master key?
That’s correct @sysfu, theoretically. The fact is that a user is unable to do a factory reset on their end (Node is protected by an encrypted password), as well as have the Node staked with a new funder (1 Node - 1 set of key chain - 1 dedicated Funder) at this moment.
We will think about the plan to support the migration, but that will be in late 2021.
Why is it that we have so many different keychains by default? What’s the benefit over just having a single key for everything? Should I just transfer all my assets to my new master key, and use that for staking, Quest, etc?
Well, you needed those keychains for various different things within the app. For example: Pdex and PdexWithdraw keychains are both needed for adding liquidity through the Add function. One of the benefits of the newest HD wallet update is that you can manage just one seed phrase. Personally that is a good way to go about it, if various keychains bother you. Sending your assets to your master key would be the way to go. It is not a requirement though.
Still confused about this change. Does the end user obtain any benefit from moving assets to the Master key?
I am trying to understand if we should be moving our assets now to prevent a bottleneck if the rollover became mandatory at a later date.
If using pass phrase unlocks Master and all slave keys attached to it, and consolidation on the backend is still progressing, I am struggling to understand why a person would opt to use Master Anon instead of Slave Anon.
Thanks!
Hi Key,
No you will obtain no benefit appart from an easier way to back up and restore your keychain on your phone.
Some of these keychains help keep your trades, for example, anonymous.
What do you mean? Do the keys functions in different ways? Or could you accomplish the same thing with one master key?
You are mixing things. Master, Masterless, keychains, and keys are not all the same. Sorry I got no time right now to go into details.
You are mixing things. Master, Masterless, keychains, and keys are not all the same. Sorry I got no time right now to go into details.
If you don’t have something constructive to say, why say anything at all?
Some of these keychains help keep your trades, for example, anonymous.
How?
“Some” but not all?
KEYS AND KEYCHAINS
Every “account” on the Incognito blockchain is a group of keys called a keychain. Unlike an Ethereum “account” or address, which only has two keys – a public key and a private key – an Incognito “account” has five associated keys: an address key, a public key, a private key, a validator key and a read-only key.
Private keys for an Incognito keychain, whether derived from a Master Key or generated independently by the app, will operate identically in the Incognito ecosystem. Stated another way – the method by which the private key is generated has no functional bearing on that private key’s use in Incognito.
MASTERLESS - the “original” method
When a user creates a new account “ANON” with the Incognito app, a new private key is generated and then used to derive the other four keys. This private key was the single point of derivation for the “ANON” keychain. The scope of derivation resides solely within the “ANON” keychain and does not, nor cannot, be extended to any other keychain. If that user created another account “MOUSE”, another new private key would be generated by the app and used to derive the other four keys for the “MOUSE” account.
With this type of system, users were required to backup the private key for each and every keychain. This was not only cumbersome, but also prevented compatibility with hardware wallets such Ledger and Trezor. This is now called MASTERLESS in the Keychain tab.
MASTER - the new “hotness” method
The latest major update to the Incognito app introduces HD – hierarchical deterministic – accounts on the Incognito blockchain. With HD, the private keys for “ANON” and “MOUSE” above would be tied to a single point of derivation – a 12 word seed phrase. The four other keys for each keychain are still derived from the respective keychain’s private key.
Benefits of MASTER
Practically a user would only need to backup and restore the 12 word seed phrase to recreate the same keychains derived from that phrase on a new installation of the Incognito app. With the old masterless private key system, each private key for every account would need to be backed up and then imported on a new device. For a user with more than two or three accounts, this would become both cumbersome and an ever expanding logistic problem. HD simplifies this to a set of 12 words to backup multiple accounts.
Furthermore by switching to HD derived keys using the BIP39, BIP32 and BIP44 standards, the Incognito devs are paving the way for integration with popular, third-party, standards-based wallets, such as Ledger.
KEY MANAGEMENT
The Incognito app can have more than one Master Key. Each Master Key can, in turn, have more than one keychain. And the Incognito app still supports the older Masterless Keys, which can be managed alongside however many Master Keys reside in a user’s app.
If you have more than one Master Key, you will have more than one set of 12 word seed phrases that will need to be backed up. It is to your advantage to group multiple accounts under a single Master Key.
It is very important to note that Masterless Keys (aka private keys) CANNOT be imported into a Master Key. Should you have funds tied to a Masterless Key that you wish to manage using your new hotness Master Key, you will need to send the funds from the Masterless Key account to the desired Master Key account. There is no method to “sweep” or otherwise manage private-key derived address using a Master Key account.
NODES
New vNodes can be managed with the validator key from a Master Key account, so long as that validator key is provided to the vNode during setup.
New pNodes will likely continue to create/use a Masterless Key account during setup.
All existing Nodes (pNodes and vNodes) will continue to operate using Masterless Keys without issue. Be sure to maintain backups of the respective Masterless Key(s) for your Nodes(s).
Existing vNodes could be unstaked and restaked with a Master Key validator key. The caveat here is the time it takes to unstake and restake. This will not be an immediate process. You are unstaking your vNode, moving the stake from the old Masterless Key account to a Master Key account and then restaking a vNode using that Master Key validator key account.
Funded pNodes can also be unstaked and restaked PRIVATELY to use a Master Key validator key in a similar way. This method would, however, require the pNode to be restaked with a PRIVATE, non-funded stake. An operator will need to have the full 1750 PRV available when restaking the unstaked pNode.
Existing funded pNodes that wish to continue using a funded stake will need to remain on a Masterless Key validator key. The dev team has not signaled they will develop a method to transition a funded pNode from a Masterless Key to Master Key while maintaining the funded stake of the pNode.
The pDEX keychain.
When you trade using funds stored with your pDEX keychain, the funds will move from that keychain to another address then to the destination address breaking any link between your account and the trading pools. This keeps your trade private on the Incognito keychain, even if someone uses your read-only key to view the transaction history associated with your pDEX keychain.
Great explanation, Mike! I think you have a typo, though. Shouldn’t the heading [quote=“Mike_Wagner, post:57, topic:8412”]
Benefits of MASTERLESS
[/quote]
be “Benefits of MASTER”?
Why, whatever do you mean?
Didn’t want you to feel overlooked. Also hoped, but that was too much, you might understand the information is on this forum already and you would give the search engine a try.
Fortunate for you, Mike was friendly enough to typ out the whole thing once more.
Hello. If I have my funds stored in a Master Key on incognito, have written down my 12 words in a safe place. If anything were to ever happen to the incognito platform, would I be able to access my Master key/ funds from another platform or my ledger, etc.
Not without technical knowledge but yes, it’s still possible for most things if you can craft a transaction to the incognito blockchain itself.