[Ethereum] Are mnemonic seeds or hierarchical deterministic wallets standardized

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Some wallets for Bitcoin and Ethereum will give you a list of about 15 words to write down instead of giving you a private key.

From what I understand, the list of words is derived from the key, and can be used to recreate it.

The question I have, is basically whether or not ALL (or virtually all) implementations of this system are compatible. Imagine I try to recover my wallet using the seed years later on a totally different wallet. Can I be confident it will work. Are all seed mnemonics using the exact same math, and will they likely continue with the same scheme (or a backwards compatible one) decades from now?

Best Answer

There are several bitcoin standards related to creating keys from mnemonic seeds.

BIP 39 for making mnemonics to create a seed: https://github.com/bitcoin/bips/blob/master/bip-0039.mediawiki

BIP 32 for deriving keys from that seed: https://github.com/bitcoin/bips/blob/master/bip-0032.mediawiki

However, not all clients use all these standards (eg Electrum's mnemonic implementation is different - I think it pre-dates the standard and the developers weren't really happy with the standard) and there's a little bit of room for different ways of implementing things even if you're trying to follow it; For example, a wallet is allowed to have different derivation paths for different "accounts", but it doesn't have to.

So no, you can't quite be confident your seed will still work as is on an arbitrary future wallet, although it might. But if there's a lot of money in there it should be possible to dig out the way the old wallet was doing the thing and re-implement enough of it to get your private keys out.

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