Migration Remarks

Remarks on Private Keys

Depending on the users (trade) activity and investors behavior please also note the following:

  • TITAN Transactions: If there is a chance that you might have received a TITAN transaction (default transaction format) since you last opened your wallet, you are required to completely synchronize with the BitShares 1.0 blockchain to catch that transaction and generate the corresponding private key. After that, you can use the graphene-compatible wallet export function.

  • Market transactions: Each market order is associated a key that is derived when placing your order and is hence part of your wallet. Please note that for the transition to BitShares 2.0, all open orders (except short orders) will be closed and the funds returned to their owners.

  • Cold Storage Funds: You cold storage funds can be claimed by simply importing your cold private key into BitShares 2.0. This will result in a transaction that claims your funds and puts them into your account.

  • PTS/AGS donators: You can import your corresponding private keys into BitShares 2.0 directly to claim your funds. Note that, since the web wallet cannot parse your wallet.dat file, you may be required to manually dump your private keys. with a 3rd party tool. If you feel not comfortable with this, we recommend you import your wallet.dat file into the BitShares 1.0 client and export a graphene-compatible wallet file that can be imported in the BitShares 2.0 web wallet.

Technical Explanation

The BitShares 2.0 wallet architecture is vastly different than BitShares 1.0. In BitShares 1.0, each account consists of dozens or even thousands of keys, each of which is controlling a small portion of your balance and for TITAN users, none of the balances associated with your account use the same key as your account. Under BitShares 2.0, all of these “balances” become unique accounts rather than a single logical account. The BitShares 2.0 wallet has an “import” interface that allows you to specify a set of private keys and the name of an account that you would like to receive all of the funds associated with those keys. Then it generates a transaction that spends the full balances from all accounts associated with those keys to your new unified BitShares 2.0 account. The BitShares 0.9.x wallet provides a utility to dump all private keys associated with a given account to make the migration process easy.