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Electrum-ECC Lynx key transfer.md

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Electrum-ECC Client to Lynx Key Transfer

This document describes how to transfer private keys, and hence the value locked by those keys, from Electrum-ECC Client to Lynx.

In summary, the transfer involves the export of one or more private keys from the Electrum-ECC wallet followed by the import of the same one or more private keys into Lynx / eccoind.

  1. Open Lynx, Start Wallet and ensure fully synced and Unlock Wallet (fully - not just for staking)..
  2. Open Electrum-ECC Client with the wallet you wish to export from. Note that it is not necessary to have a functioning connection to an Electrum server.
  3. Navigate to the Addresses tab in Electrum-ECC Client. This page shows each address in your Electrum-ECC wallet and any associated value. This enables you easily to see which wallet addresses you need to transfer the corresponding private keys for.
  4. For each private key you wish to transfer, repeat the following process steps 5-8.
  5. Right click the address and select option Private Key. You will be prompted to enter your Electrum-ECC wallet password.
  6. With the private key for that address revealed, copy the portion after the "p2pkh:" prefix. This can be done by double clicking the key after the prefix followed by CTRL-C to copy to the clipboard.
  7. In Lynx, navigate to Settings, Debug, Console.
  8. Enter the command importprivkey "key", replacing key with the private key previously copied to the clipboard. You can use CTRL-V to paste from the clipboard.
  9. For the final key you plan to import, add the rescan option thus: importprivkey "key" rescan.

The rescan option forces Lynx (actually eccoind which Lynx controls for you) to rescan the blockchain looking for all addresses locked by private keys held in the wallet. If you forget to add the rescan option to the final import, you can import one additional address of zero value. Note that a rescan takes up to x minutes (depending on CPU speed), hence not doing a rescan on every key import if you have more than one key to import.

Note that the wallet balance will not be adjusted to account for the new value transferred through key import until after the rescan has completed.

Rescan progress is reported in debug.log once per minute.

Note that you are now in the position where you have two wallets able to control the same addresses. If you send from one wallet, the corresponding value will disappear from the other wallet because both wallets hold the same key and the corresponding ECC amount is actually held on the blockchain. In that sense the wallet metaphor is very misleading because crypto wallets don't hold any value, they merely control access to value through the private keys they hold. Key chain would be more accurate as a metaphor !