Migration to Descriptor Wallets

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Pttn
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Joined: 2021-02-18 21:32:13
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Migration to Descriptor Wallets

Post by Pttn »

If you used Riecoin Core up to and including 0.21, you certainly have Legacy Wallets (unless you explicitely created Descriptor Wallets on 0.21). These wallets are obsolete and their support will eventually be removed, so please move your funds from old wallets to Descriptor Wallets starting from now.

Here is a guide explaining how you can do this in Riecoin-Qt. You should be able to figure out if you are using command line, but you can still ask if unsure.

- Use Riecoin Core 21.10 or more recent;
- Go to File > Create Wallet;
- Give a name to the new wallet, leave the Disable Private Keys and Make Blank Wallet options unchecked;
- The new wallet will be created and you should be able to access it via the Overview page's top right Drop Down List (and you should also see your old wallet(s));
- Select your new wallet in the Drop Down List. You will see 0 RIC in this wallet, this is normal;
- Go to the "Receive" page and click on the "Create new receiving address" button. Copy-paste the new Riecoin address somewhere;
- Select an old wallet in the Drop Down List, and send all your coins to this new address. Repeat this with any wallet your had (you can of course also create more addresses or more Descriptor Wallets, just remember to not forget to select the correct wallet).

You now successfully moved your funds to a Descriptor Wallet. Be sure that you never use any address from old wallets again. Then, you can close old wallets by selecting them and doing File > Close Wallet, close Riecoin Core, and delete their files (be careful to not delete the wrong files).

If for some reason, you want to reuse an existing Bech32 address, this becomes more complicated. Bitcoin/Riecoin is not designed to reuse addresses, so you should not do this and instead follow the instructions above. If you really want to do it, the procedure is pretty complicated and I will let you find out by yourself how to do it.

For most users, there will not be any difference while using Descriptor Wallets in practice.
One important change from Legacy Wallets is that it is not longer possible to do dumpprivkey/importprivkey, so you will have to change your habits if you were often using them. The new Bitcoin Code makes it really hard to access Private Keys.
It is still possible to generate a Private Key externally, and import it with importdescriptors, but there is no simple way to get the Private Key of a Bech32 address from a Descriptor Wallet (and you should not do that).
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