EthereumWallets

The Jaxx HD Wallet for Ethereum Gets Another Quick Upgrade

Cryptocurrency wallet provider Kryptokit released Jaxx 0.0.17 last week. The 0.0.17 version includes the first Ethereum wallet to comply with hierarchical deterministic (HD) standards. Thus, the Jaxx HD upgrade generates a new address every time funds are sent to the latest address. All previous addresses can be reused, and all addresses are derived from the master mnemonic.

This upgrade was unlike all previous changes made to Jaxx, because upgrading to the new system required the generation of a new HD address that would not automatically store users’ funds.

For Kryptokit, this created a potential ethical issue, as transferring users’ funds from one address to another would incur the usual Ethereum transaction fee of .00105 ETH,  so they company ruled out simply forcing the HD upgrade and transfer.

The Kryptokit team decided to go with a hybrid approach: the upgrade itself was mandatory, but they left it up users whether or not to let Jaxx make the transfer of funds. Users who declined to transfer their funds could still access their old non-HD address and private key via the Display Ethereum Keys screen. From there, the funds could be imported into Jaxx or any other Ethereum service that supports private key imports.

Simon Howell, support specialist at Kryptokit, notes how they anticipated some confusion from customers:

“We knew that no matter what migration path we chose, there was bound to be some confusion – HD is not necessarily a widely-known or understood standard within the Ethereum space, which means users might not appreciate being told that they will have a changing address all of a sudden. While there’s been some concern and a few cases of outright frustration, by and large, the response has been very positive, and most importantly of all, not one user has lost access to any funds as a result of this complex upgrade.”

Kryptokit today released version 0.0.18 of Jaxx to deal with the issues faced by some users as a result of the Jaxx HD upgrade. With the update, they believe that users who declined the HD transfer will have an easier time accessing their non-HD private key, with the “one and a half minute” loading time eliminated. According to Howell, users upgrading to HD for the first time or users who missed the 0.0.17 upgrade “should more reliably see their balance in the new wallet without having to do a re-install.”

Howell concludes:

“This latest update would not have been possible without detailed feedback from our users – thanks to the whole community for trying out Jaxx and for being patient as we roll out these unprecedented features. “

 

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Journalist, policy analyst, and evangelist of new, disruptive technologies including big data analytics, Internet of Things, and cryptocurrencies. Internet industry veteran with regional c-suite experience, and journalist credentials earned at internet.com, Internet World magazine, and Mecklermedia Corporation.
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