FAQ
Polkadot Vault Common FAQs
What are Dynamic Derivations?
Dynamic Derivations are a feature supported by Nova Spektr and Polkadot Vault. Derivation paths basically let you create and manage several accounts on the same network using the same seed phrase. You can think of derived accounts as the child accounts of the root account which is created using the original mnemonic seed phrase.
The Dynamic Derivations system allows you to easily create multiple derived accounts within Nova Spektr. You can export a .yaml file containing only the derivation path keys which allows you to quickly import all of your derivation paths in the event that you update your Polkadot Vault, which causes your derivation paths to be wiped.
What is a Multishard Wallet?
Nova Spektr allows you to create a set of different keys (shards) that are independent of each other but associated with each other in the Nova Spektr application for some operations.
A sharded account consists of multiple keys (shards) numbered from 0 to the total number of shards minus 1. Each shard is created with a hard derivation path (//0, //1, //2,...,//N-1)
What are the predefined derivation paths?
When you pair a Polkadot Vault wallet with Nova Spektr you are able to quickly add some predefined derivation paths:
Hot – This derivation path is intended to be a hot wallet
Public – This derivation path is intended to be the key you use for sharing your account with other people, for example to receive tokens
Staking – This derivation path is intended to be the key you use for staking
Governance – This derivation path is intended to be the key you use for governance voting
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