v1.5.1 # 261
- New users can now automatically backup their wallet on iCloud/Google Drive.
- Wallet backup scheme overhauled. 3 levels of security introduced.
- Level 1: Cloud Backup – Allows a user to backup a wallet image on the cloud. The user has an option to do this or not. However, the trade-off is if the user wishes to backup the wallet to its highest level of security,for now this step becomes mandatory.
- Level 2: Double Backup – Two Recovery Keys are backed up separately. In the background a 2 of 3 Shamir Secret Sharing (SSS) algorithm is used on the mnemonic and one Recovery Key is stored on the cloud.
- Level 3: Multi-Key Backup - Two more Recovery Keys are backed up at this level. This is the most secure level and users are encouraged to backup their wallet upto this level. An SSS algorithm is used under the hood.
- Someone starting to explore Bitcoin can choose to automatically backup their wallet on the cloud and leave the backup at that level, if they so wish.
- Once a user is familiar with bitcoin and starts hodling, then we encourage them to step up their backup to Level 2.
- Level 3 backup is for advanced users who are comfortable stacking sats and understand the workings of Bitcoin.
- New users would start with the new backup scheme.
- Wallet recovery optimized for new backup scheme.
- Bug fixes and performance improvements