Learn more about blockchain wallets in an article

introduction

In the algorithmic era, everyone is responsible for their wealth. It is only when investors in the cryptocurrency market learn to use blockchain that they can truly know how to secure their assets.

Blockchain wallets are an integral part of using Bitcoin and other cryptocurrencies, and are the most important part of the crypto infrastructure as they allow money to be sent and received through the blockchain. Each type of wallet has its pros and cons, so it's important to understand how a wallet works before sending money.

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What is a blockchain wallet?

blockchain walletA software program or hardware device that stores encrypted results. It is similar to an online bank form, but with a customer ID, account number and password. Your digital wallet password is your “private key,” and only from this can you open and run your wallet.

easy to understand,A blockchain digital wallet is a tool for managing the keys and addresses of blockchain nodes, which can carry blockchain ledger data as a tool for interacting with the blockchain rather than storing assets.

The first application of blockchain is the blockchain wallet.The world's first wallet blockchain has seen the light of dayjanuary 2009To believeSatoshi Nakamotopublished

From a certain point of view, the main role of the portfolio isCreate, store and use private keys, especially from the user's point of viewAccept, change, askOur core responsibility is to make it easy for users to manage their digital assets.

walletthe key is a toolNow, most of the wallets have set up separate sites for users of the network, which is decentralized.Most of the wallet software in the store includes imtoken, mytoken, etc.

1. The value of the portfolio

In the age of blockchain, you can measure the cost of services in each industry by blockchain wallet.The blockchain wallet will be the gateway to many applications,Many DApps will also become a mainstay for users directly involved in the blockchain.

Since the interaction between users and DApps must consume digital assets, the importance of wallets is a tool to help users manage multiple digital assets is a reality. .thisThis will be the last super-traffic entry into the blockchain 3.0 era,Blockchain technology itself will rethink the existing internet business model in its own way.

2. Key points

A blockchain wallet is a digital wallet that allows users to store and manage encrypted digital assets such as Bitcoin and Ethereum.

Blockchain wallets are used by blockchain, which is an electronic wallet that allows people to store and trade cryptocurrencies.

Dynamic Blockchain Wallet. This means that exchange rates vary depending on factors such as the size of the exchange.

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Blockchain wallet process

Contrary to popular belief, cryptocurrency wallets do not hold cryptocurrency. on the other hand,It provides the tools you need to integrate into blockchain.In other words, these wallets can generate the data necessary to complete the transmission and reception of the cryptocurrency (via the blockchain). This information also includes one or more important public and private information.

At the same time, cryptocurrency wallets have a public address created by the public key and the private key, which are the symbols of the code. This address essentially represents the unique "location" of the blockchain and can be used to receive cryptocurrency.This means that users can earn money by sharing their public address with others, but don't forget to disclose their private information to anyone.

The private key provides access to the encrypted number in the user's wallet. So even if your computer or smartphone poses a security threat, you can still access your money from that private key (or its mnemonic phrase).Plus, tokens never leave the blockchain, they just move from one place to another.

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Different types of blockchain wallets

There are many types of blockchain wallets, separated by their characteristics, and can be further divided into:6Yam:

1. It is divided into a wallet and a wallet depending on whether the wallet is connected to the Internet or not.

A cooler:Also called offline wallet. Because it is used separately through the network, it usually appears as a hardware or physical device to store the private account key of the user's wallet and separate it from the network for security. high. Usually only traded as assets and not externally. Cooler Wallets now include Wallets, Wallets, Up Drives, Hardware Wallets, Smart Watches, and other smart storage devices.

Jewelry bag:Also called online wallet. The wallet is constantly involved in online trading, exchange, certification and payment, these operations must be maintained online, and even if the operation is efficient, secure. This type of wallet is vulnerable to theft and attacks. It usually appears as an app or web platform, and users need to access the online wallet. In general, consumers generally prefer gold wallets because they are easier to use. The use of wallets is generally intended for consumers with large assets, and more cautious to avoid the risk of theft.

2. According to the stored node data, it can be divided into a whole bag and a light bag.

Total node portfolio:Most of the wallets are desktop wallets because all the information on the blockchain is synchronized with the wallet, and the wallet uses a lot of storage space and is difficult to use.

Lightweight knot bag:The light wallet was born because not all wallet wallets are easy to use, and the light wallet is a wallet that lives on other packages in the blockchain network. Normally, the wallet setup is working fully, syncs all data, then distributes the data to different wallet addresses and sends as needed. Users often choose the bag light because users know that the wallet light is better, especially for the initial blockchain, due to their small size, small footprint, and can support a variety of digital devices .

3. Based on the ownership of the private key, it can be divided into medium wallet and business wallet.

Centralized portfolio:Users do not hold personal wallets, private keys are held by third parties or service providers.

Decentralized portfolio:Users hold their own private wallet key, and no other person or service provider knows or holds the user's private key.

4. Divide into soft wallet and leather bag according to the available bag

Soft wallet:Like a wallet application or computer software. Users need to install user wallet software on their computer or install the wallet app on their mobile phone, without the need for special hardware.

Leather leather bag:Having said that, hardware wallets usually come in the form of wallets, there are also hardware stores that have the same temperature combination, users need to purchase external equipment to work with their wallet.

5. As a multi-currency medium, it can be divided into single / multiple wallets and full wallets.

Wallet:As the name suggests, this is a blockchain wallet that only provides a digital blockchain device. It is also referred to as the main wallet because it usually only supports a single main blockchain chain platform and is usually developed by part of the project or a community.

Multi-currency portfolio:It is a wallet that supports a variety of digital blockchain devices. Many digital blockchain devices can be tokens wrapped around a blockchain keychain and keychain, or they can be different digital devices from more than one blockchain keychain.

Total portfolio:A blockchain wallet that supports all aspects of digital assets and token assets of the main chain of the blockchain. However, as electricity bills continue to rise and fail for a while, the entire wallet remains an option for the time being. With the development of blockchain technology and the improvement of the entire blockchain ecosystem, we believe that one day every portfolio goal will reach you.

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Blockchain wallet using the instructions

1. Safety tips

When installing a blockchain wallet,download from lub official website, please do not download and use illegal wallet software on demand.

Make sure to use your walletDo not share the private key, mnemonic phrase, keystore, and other information in your wallet with other people., all of this information is sensitive data that can directly steal your digital assets. Remember, in the blockchain world, anyone with a personal key is the true owner of a digital asset.

2. The private key is very important

private key for digital assetsIt means ownership of assets.. If the private key is lost all the time, all digital devices can be easily stolen, so the private key is usually stored locally, like in the mobile app, online hardware. , etc. We do not store passwords on servers like Alipay. Don't forget to open a business platform accountVarious authentication methods such as Google Authenticator and SMS cell phone authentication.

Do not use WeChat, QQ, and other chat tools to send yourself sensitive personal information (you may confuse your private key before sending using this method).

3. Backup is important

Make a habit of using your portfolio information on a regular basis. Do not put the eggs in the same basket. You can store your digital treasures in multiple wallets or purses.

Losing access to your cryptocurrency wallet can be "meaningful." soRegular backups are essential.. Usually you can do this by saving your wallet.dat file or mnemonic phrase. In general, mnemonics have functions similar to private keys, but are easier to manage. If you are using a password for encryption, you will need to reset your password.