@@ -1,4 +1,5 @@
11:- :~ title/'Why Urbit Uses a Blockchain'
2+ sort/'5'
23 ==
34;>
45
@@ -44,8 +45,6 @@ this problem. We chose Ethereum over Bitcoin because the former is built for
4445computation and the latter is not. We need a computational blockchain to enforce
4546the specific rules of the Urbit identity registry.
4647
47−
48−
4948# The Urbit HD Wallet
5049
5150The Urbit HD Wallet's derivation paths also have this hierarchical structure, so that keys with different powers can be physically separated. A "master ticket" can re-derive the entire wallet in case of loss. The encryption and authentication keys that Urbit points use to sign messages within the network are also derived from the wallet.
@@ -53,19 +52,30 @@ The Urbit HD Wallet's derivation paths also have this hierarchical structure, so
5352The Urbit HD Wallet is not one key-pair, but a system of related key-pairs that each have distinct powers, from setting networking keys for communicating in the Urbit network to transferring ownership of your Azimuth address space (your point).
5453
5554Urbit HD wallets are composed of the following items, which are each assigned to their own individual Ethereum key-pairs.
55+
5656Master Ticket
57+
5758Think of your master ticket like a very high value password. The master ticket is the secret code from which all of your other keys are derived. Technically, your master ticket is seed entropy. You should never share it with anyone, and store it very securely. This ticket can derive all of your other keys: your ownership key and all of the related proxies.
59+
5860Ownership Address
61+
5962An ownership address has all rights over the assets deeded to it. These rights are on-chain actions described and implemented in the Constitution, Urbit’s Ethereum smart contracts.
63+
6064Proxies
65+
6166Proxy addresses allow you to execute non-ownership related actions like spawning child points, voting, and setting networking keys without jeopardizing the keys you've designated with ownership rights. Setting proxy rights is optional, but it is recommended for on-chain actions you will execute more frequently.
67+
6268Management Proxy
69+
6370Can configure or set Urbit networking keys and conduct sponsorship related operations.
71+
6472Voting Proxy
73+
6574Galaxies only. Galaxies are the part of the galactic senate, and this means they can cast votes on new proposals including changes to the Constitution.
75+
6676Spawn Proxy
67−For stars and galaxies only. Can create new child points.
6877
78+For stars and galaxies only. Can create new child points.
6979
7080Most Ethereum tokens use the ERC-20 standard for smart contracts. Azimuth points are, however, essentially different from most Ethereum tokens, due to points not being fungible. Since any two stars will handle social-networking realities in a different way, they will carry a different reputation. Points are to houses as tokens are to gold.
7181