The Angola Wallet is a P2P (peer-to-peer) decentralized wallet system. With an Ethereum network smart contract at its foundation, it is issued simultaneously when user’ subscribe for membership. The issuance of the private key for each user is encoded by means of a random number as a seed in order to derive a deterministic wallet using mnemonic words within the Dapp terminal, and only individuals with this private key are authorized to access and use the wallet associated with the private key.
It is issued by encoding the words constituting a total of 24 digits across 264 bits by adding 256 entropy and 8 checksums using the SHA-256 hash algorithm.
This mnemonic sequence can link the wallet to an external DEX platform, and is useful for recovering all keys and wallets across any associated wallet application. Users can issue multiple HD wallets as child wallets with individual mnemonics and generate a private key value for each. This can be used as a package or individual wallet.
Since the decentralized Angola Wallet is independent of the central database and will not be accessed by anyone other than authorized users, its security is highly reliable, but individual users are responsible for storing their mnemonic and private keys.