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104 sats \ 3 replies \ @DarthCoin 17 Sep 2022 \ on: LN wallet recovery bitcoin
Each LN wallet use a different method as I explained in this post #70725
For phoenix in particular, yes, is enough only the seed. All the rest is done by Acinq in the background, they manage the channels. Other LN wallets do not use this "semi-custodial" method. Some are using even a more "aggressive" custodial way. Not all LN wallets are the same. Some are not even LN, even if they claim it...
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10 sats \ 0 replies \ @m4 OP 17 Sep 2022
Ok I found how they are able to manage it
Each time channels are updated, Phoenix sends an encrypted version of their data to its peer. This allows for easy backup/restore of channels while maintaining privacy.
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10 sats \ 1 reply \ @m4 OP 17 Sep 2022
They say that phoenix runs a node on your mobile. So how it can be restored by acinq?
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40 sats \ 0 replies \ @DarthCoin 17 Sep 2022
Yes, it is a node, but is not "yours" totally. Is not a bad app. And you could even restore your seed into Electrum in case of SHTF.
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