“For users upgrading an existing Zcashd wallet, it is recommended that the wallet be backed up prior to upgrading to the 4.7.0 Zcashd release. In the remainder of this document, the HD seed derived from the emergency recovery phrase will be termed the wallet’s “mnemonic seed”.”
This wording bothers me. Let’s say I’m a user of ZecWallet Full Node - What should I do?
PS I am one of those who likes to ask questions when in doubt.
The safest thing to do if you’re on zcashd (including Zecwallet Fullnode), is to backup the wallet.dat file. The new mnemonic seed feature in zcashd is intended to make sure users only need to backup one “emergency recovery phrase” to recover any address or account generated by the wallet. If you still have balance in the old address (before mnemonic seed), you must transfer those balance to the new address if you want to make sure your money is recoverable through the mnemonic seed.
A bit confusing I know, but this is a new feature and I expect there will be some adaptation needed after NU5 for current Zcash users including with the recovery phrase in zcashd and the UA, in the hope of having a better UX, especially for those new to Zcash.