Hi team,
What will be the compatibility of my Trezor 3 in 10 years from now?
As we all know, technology, connection, operating systems, firmware will have change… Will TREZOR provide support to restore older wallet to be read and operated in newer operating systems?
Thank you,
@Alex10 this is why every line of code we write, including the code and technical documentation behind our BIP-39 and SLIP-39 wallet backup system, is released under open source. Our intention is that your wallet backup should be able to work on both future Trezor devices and the wallets of any competitor who chooses to adapt these standards now or in the future.
Correct, but as I understand the relationship between the recovery seed and private key (which is stored in the Trezor but cannot be accessed for offline backup), the recovery seed will give me certainty I can recover my funds until Trezor exists but I am might be locked out otherwise.
Am I mistaken?
Your wallet backup (recovery seed) is follows either the Bitcoin Improvement Proposal-39 (BIP-39) or SatoshiLabs Improvement Proposal-39 (SLIP-39) standards. We created both of these standards to be open source, and available to anyone to implement independently of Trezor.
If you have a 12 or 24 words wallet backup you can always recover your wallet and access your funds using other software or hardware wallets that support the BIP39 standard.
If you have a 20-word wallet backup (single-share or multi-share), then the SLIP39 standard applies. You can still access your funds using other wallets that support SLIP39. Currently, the following software wallets support SLIP39: Electrum wallet, Bluewallet and Rabby wallet. You can use these wallets to recover your funds. We believe that the list of both software and hardware wallets supporting SLIP39 will continue to expand.
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