xNFT Backpack | Notion

<aside> <img src="https://pbs.twimg.com/profile_images/1628457065747193859/94PkLn0S_400x400.jpg" alt="https://pbs.twimg.com/profile_images/1628457065747193859/94PkLn0S_400x400.jpg" width="40px" /> Mad Armani 🎒 @armaniferrante: Every wallet in crypto is broken. Full stop. Period. Regular people can't use them. They aren't setup for mass adoption. We don't know if @xNFT_Backpack is going in the right direction. But whether we are or not, we're pushing the envelope in pursuit of that goal.

🧵

<aside> <img src="https://pbs.twimg.com/profile_images/1630416395392409612/o14ZQawR_400x400.jpg" alt="https://pbs.twimg.com/profile_images/1630416395392409612/o14ZQawR_400x400.jpg" width="40px" /> Voshy @voshy: Hey @xNFT_Backpack or @MadLadsNFT or just directly @armaniferrante, idc whatever works for you guys; as you're not responding to Telegram, could you please explain yourself here about the disclaimer from the screenshot 👇? How and why is the connection between my wallets public?

https://pbs.twimg.com/media/FqRfjchX0AAhhOV.jpg

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TLDR:

This is a new feature. It's not force changing behavior, it's creating more options. We have a superset of features with respect to other wallet's key derivation. You can take this feature away and end up like other wallets.

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<aside> <img src="https://pbs.twimg.com/profile_images/1628457065747193859/94PkLn0S_400x400.jpg" alt="https://pbs.twimg.com/profile_images/1628457065747193859/94PkLn0S_400x400.jpg" width="40px" /> Mad Armani 🎒 @armaniferrante: However, I would not take this feature away. It's kick ass. It's awesome. It creates great UX. You'll want it. If not now, you'll want it in the future.

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<aside> <img src="https://pbs.twimg.com/profile_images/1628457065747193859/94PkLn0S_400x400.jpg" alt="https://pbs.twimg.com/profile_images/1628457065747193859/94PkLn0S_400x400.jpg" width="40px" /> Mad Armani 🎒 @armaniferrante: (Note: we could be wrong! And if we are, we're here to take in that feedback and adjust our roadmap. We're not here to be some soulless corporation that ignores the community. There's few things I care more than making sure the ecosystem is aligned.)

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<aside> <img src="https://pbs.twimg.com/profile_images/1628457065747193859/94PkLn0S_400x400.jpg" alt="https://pbs.twimg.com/profile_images/1628457065747193859/94PkLn0S_400x400.jpg" width="40px" /> Mad Armani 🎒 @armaniferrante: Nevertheless, the reason this feature is important is a bit subtle and has to do with identity and xNFTs, allow me to explain. Bare with me. It's sound, I promise.

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<aside> <img src="https://pbs.twimg.com/profile_images/1628457065747193859/94PkLn0S_400x400.jpg" alt="https://pbs.twimg.com/profile_images/1628457065747193859/94PkLn0S_400x400.jpg" width="40px" /> Mad Armani 🎒 @armaniferrante: So the way the majority of wallets like Phantom create wallets for you is by creating brand new identities, new "accounts" along the derivation path (e.g. on Solana) m/44'/501'/0'/{k}' via what is known as the BIP 44 standard github.com/bitcoin/bips/b….

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https://pbs.twimg.com/media/FqTvxsmWAAMKF7e.png

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The thread doesn't end here, it appears twitter just didn't load the whole thing.

There's A LOT missing. I'll finish it up again. And at a /fin at the end.

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<aside> <img src="https://pbs.twimg.com/profile_images/1628457065747193859/94PkLn0S_400x400.jpg" alt="https://pbs.twimg.com/profile_images/1628457065747193859/94PkLn0S_400x400.jpg" width="40px" /> Mad Armani 🎒 @armaniferrante: ... Though in practice, everyone connects them. It doesn't matter how theoretically secure or privacy preserving a technology is, if a human can't use it properly, then all those theoretical properties simply don't exist. I wrote a bit about this here twitter.com/armaniferrante…

<aside> <img src="https://pbs.twimg.com/profile_images/1628457065747193859/94PkLn0S_400x400.jpg" alt="https://pbs.twimg.com/profile_images/1628457065747193859/94PkLn0S_400x400.jpg" width="40px" /> Mad Armani 🎒 @armaniferrante: How to stay pseudo anonymous in a world of public blockchains. Odds are, if you're using any wallet on any public blockchain today, you're probably doxxing yourself. Here's why.

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<aside> <img src="https://pbs.twimg.com/profile_images/1628457065747193859/94PkLn0S_400x400.jpg" alt="https://pbs.twimg.com/profile_images/1628457065747193859/94PkLn0S_400x400.jpg" width="40px" /> Mad Armani 🎒 @armaniferrante: In @xNFT_Backpack, to stay compatible, we've followed the same steps. You can create a new account in the wallet that maps one to one to the Phantom account on the exact same derivation path by default. These aren't connected at all. So far so good. Nothing confrontational here.

https://pbs.twimg.com/media/FqT5Q9ZWABUI7Ph.jpg

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<aside> <img src="https://pbs.twimg.com/profile_images/1628457065747193859/94PkLn0S_400x400.jpg" alt="https://pbs.twimg.com/profile_images/1628457065747193859/94PkLn0S_400x400.jpg" width="40px" /> Mad Armani 🎒 @armaniferrante: If you want to just stop reading the thread here you can. Just use Backpack like this and everything would work exactly as you expected--exactly the same as other wallets more or less.

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<aside> <img src="https://pbs.twimg.com/profile_images/1628457065747193859/94PkLn0S_400x400.jpg" alt="https://pbs.twimg.com/profile_images/1628457065747193859/94PkLn0S_400x400.jpg" width="40px" /> Mad Armani 🎒 @armaniferrante: But here's where we push the envelop. We've introduced a new concept: sub accounts. This is super common in the exchange world, but we're the first wallet to do it in @xNFT_Backpack.

https://pbs.twimg.com/media/FqT5pQGWIAE7g_b.jpg

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<aside> <img src="https://pbs.twimg.com/profile_images/1628457065747193859/94PkLn0S_400x400.jpg" alt="https://pbs.twimg.com/profile_images/1628457065747193859/94PkLn0S_400x400.jpg" width="40px" /> Mad Armani 🎒 @armaniferrante: You have a single account much like Twitter and a bunch of data associated with it. A username. A profile pic. A social graph. And all of your assets inside all of your sub accounts. All packaged together as a single user.

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This is super intuitive. Everything "just works." Great UX for the entire world. That's our goal.

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<aside> <img src="https://pbs.twimg.com/profile_images/1628457065747193859/94PkLn0S_400x400.jpg" alt="https://pbs.twimg.com/profile_images/1628457065747193859/94PkLn0S_400x400.jpg" width="40px" /> Mad Armani 🎒 @armaniferrante: But beyond being intuitive, there's a security reason to introduce the concept of sub accounts: asset partitioning. I might want my ledger vault, a burner wallet for mints, and a daily spender for normal use, where my ledger is only interacting with my burner and daily spender.

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<aside> <img src="https://pbs.twimg.com/profile_images/1628457065747193859/94PkLn0S_400x400.jpg" alt="https://pbs.twimg.com/profile_images/1628457065747193859/94PkLn0S_400x400.jpg" width="40px" /> Mad Armani 🎒 @armaniferrante: We're creating formal structures in @xNFT_Backpack to make that easy, to minimize the chance of catastrophic user mistakes. We're not fully there yet, but the sub account system is a big first step that goes beyond the status quo.

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<aside> <img src="https://pbs.twimg.com/profile_images/1628457065747193859/94PkLn0S_400x400.jpg" alt="https://pbs.twimg.com/profile_images/1628457065747193859/94PkLn0S_400x400.jpg" width="40px" /> Mad Armani 🎒 @armaniferrante: Given the amount of users losing money in crypto due to "user error", I would argue it's not user error at all--it's product error. We as an industry have totally failed. And we at @xNFT_Backpack are taking on that challenge for the world.

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<aside> <img src="https://pbs.twimg.com/profile_images/1628457065747193859/94PkLn0S_400x400.jpg" alt="https://pbs.twimg.com/profile_images/1628457065747193859/94PkLn0S_400x400.jpg" width="40px" /> Mad Armani 🎒 @armaniferrante: For the technical, a quick aside. The way sub accounts are derived is via m/44'/501'/{k}'/0'/{j}', indexing over j while k is constant for a given user account.

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