Studying the forum today on this topic. I could be wrong, but the “Encrypt Wallet” topic is not fully disclosed as such. The events of the search for missing coins make me realize that coins stored on Zecwallet-Lite require additional protection. I want to understand the pros and cons of the “Encrypt Wallet” theme and make a decision about its use on Zecwallet-Lite.
@BrunchTime the information is actually worth reading. But, it’s been six months since the post was written. A lot has changed in the Zecwallet-Lite software for the better. I would like to understand, is the “Encrypt Wallet” function in Zecwallet-Lite relevant only for the PC that is using Zecwallet-Lite? I would also like to clarify whether the “Encrypt Wallet” function in Zecwallet-Lite can help if my seed phrase is stolen and run on the kidnapper’s PC?
Yes it would be limited to the particular wallet instance and would do nothing for you in the event that your seed or key were comprimised. It’s not much different than a password or pin protection which some wallets do use.
One scenario where it might sound appealing is leaving a wallet unused on an unlocked computer for a while in which case you can lock the particular file or if your worried the admin password is comprimised then copy the files off tne computer and erase.
Meaning the computer is accessible (unlocked) but you’re not there (wallet unused). Locking the file in this sense means encrypting or preventing access somehow. In Ubuntu you can run gpg and encrypt the folder, it’s not a zkp but will work for anything short of a very sophisticated attacker, pretty much the same as what is typically asked for.
The seed fynction is already a compromise of protection for convenience.
Yes the applicable zcash folder. It can be done in windows as well Im sure. I was the same way, it (ubuntu) just takes some practice and anymore really its really set up the same way with the home screen and gui navigation.
To summarize the discussion, we can conclude that the “Encrypt Wallet” function in Zecwallet-Lite, is an empty shell, which does not carry any protection. If I understand correctly, this applies to all crypto wallets. Who is against it, I am ready to hear arguments to the contrary. The only protection that can keep coins in the wallet is encryption. As far as the encryption process is complex and not amenable to crypto newbies, we can conclude that the security of funds in wallets is far from perfect and requires quality improvement. There are more minuses than pluses, sadly.