❓FAQ

Frequently Asked Questions

🤔 Are contract wallets (CA) safer than user wallets (EOA)❓

💡 Yes. The premise for a contract wallet to be compromised is that the private key of the user wallet must first be leaked. Essentially, a contract wallet adds an additional layer of concealment on top of the user wallet. Although this layer of protection is not necessarily robust, an extra layer of concealment means an increase in security.

🤔 Is there a security risk if the address of a contract wallet is known to others❓

💡 No. The address of a contract wallet, just like the address of a user wallet, is public. What needs to be clear is that the security of a contract wallet is tied to the security of a user wallet. If the private key of a user wallet is leaked, then the contract wallets it holds are also compromised.

🤔 What if I forget the address of my contract wallet❓

💡 As long as you have sent assets to the contract wallet, there will be a transaction record left on the blockchain. You can find the address of the contract wallet in the transaction records.

🤔 Why don't I just use a cold wallet (EOA) instead of a contract wallet (CA)❓

💡 Like hot wallets, cold wallets also fall under the category of Externally Owned Accounts (EOA). Long-term reserve assets should be stored in Cold Wallet, while DeFi assets that require frequent interaction should be kept in Contract Wallet. When users navigate through the vast ocean of Web3 applications, it's inevitable that they might mistakenly authorize some phishing programs, leading to the loss of assets in their Hot Wallet. Therefore, diversifying assets between Cold Wallet and Contract Wallet is currently the safest practice to avoid risks.

🤔 If I create an AssetLocker, can the designated guardian steal my assets❓

💡 No. The guardian only has the permissions to help users unlock or shorten the locking period, and they cannot extend the locking period. Beyond this, they have no other permissions.

🤔 What should I do if TIME Holder is attacked by hackers❓

💡 The TIME Holder Official App only assists users in creating their own contract wallets and does not own the contract wallet. If a user designates the TIME Holder Official contract as the guardian when creating an AssetLocker, even if the TIME Holder Official contract is controlled by hackers, the hacker can only unlock the user's AssetLocker. They cannot touch any assets stored inside it. So, there's no need to worry.

🤔 What should I do if my wallet was mistakenly authorized to a phishing site❓

💡 If your wallet (EOA) was mistakenly authorized to a phishing site, you don't need to worry about the assets stored in your contract wallet (CA); they are safe. You just need to calmly revoke the authorization to that phishing site.

🤔 What should I do if I discover that my wallet (EOA) private key has been leaked❓

💡 Once you discover that your wallet (EOA) private key has been leaked, immediately go to the TIME Holder Official App and transfer the ownership of your contract wallet (CA) to a new wallet. If you have programming skills, you can also write a script to transfer ownership yourself.