You own your private keys, and the enhanced encryption mode guarantees the ultimate security of the asset.
Security data is stored on your device
When creating, Ownbit wallet generates 12 words of mnemonics, which are used to generate the wallet's seed and private keys.
These mnemonics, seeds, and private keys are the core of wallet security. In Ownbit, the private key is dynamically generated by the seed when needed, and it is not stored anywhere. The mnemonics and seeds are encrypted and stored on your mobile device.
Follows BIP44 standard
Ownbit Wallet is a mnemonic-based HD wallet that complies with BIP32, BIP39, and BIP44 standards. Ownbit wallet mnemonics can be easily imported into other wallets and are designed to be compatible with most popular wallets.
Click here to learn more about technical standards that Ownbit follows.
Enhanced encryption mode to make wallet anti-hacking
Ownbit supports security enhancement mode, which can reduce the possibility of wallets being cracked under extreme conditions (mobile phone stolen, Trojan viruses, hacked by hackers).
The security mode uses AES encryption and decryption, and the decryption speed is fast. The security enhancement mode uses Scrypt-based hash cipher encryption and decryption which is more effective to against brute force.
Encrypted mnemonics make mnemonics safer
The encrypted mnemonic is a mnemonic encrypted with a wallet password. When backing up your wallet, you can choose to back up the encrypted mnemonic QR code.
Since encrypted mnemonics are encrypted, even if stolen, hackers need to crack passwords to steal assets. Encrypted mnemonics are encrypted using a Scrypt-based hashed password and use the same encoding format as Keystore.