I'm new to the world of crypto currency and need some explanations on how Parity Signer in particular handles private keys.
As far as I've understood, the private key is the most critical piece of information: lose it, and you cannot access your wallet any more. That's why I'm concerned about having backups.
Parity Signer does not seem to support showing/backing up your private keys (for example, for an Ethereum account). As far as I can tell, this is by design.
The list of words presented when I create an identity in Parity Signer can be used to "recover", so the private key can derived from this list. This is one part of having a backup.
But is this derivation following a documented approach that will let me regenerate the private key by other means? For example, what if, 10 years in the future, Parity Signer does not exist any more and I don't have access to its source: would there still be a way for me to derive the private key from the list of recovery words? Is there any information about this derivation that I should write down so I can always recover in the future?