Crypto Academy Season 3 Beginners' course - Task 6: Blockchain Wallet-- Types, Uses, Installation, etc.
Welcome to another wonderful episode in the crypto Academy community. Before I present my homework post, I would like to acknowledge the professors and the crypto Academy community for making such an educative lecture possible. Today's Topic is something basic Talking about TronLink Wallet.
Without wasting enough time, I would present my homework post systematically based on the questions from the professor @sapwood.
(1) How do you store/secure your keys? What are the different forms of Private Key(Examples/Screenshot)? Download & Install TronLink Wallet(Android/iOS/Extension)? How do you store the key(Hint- write it down on a notepad, demonstrate it with examples)? Which form of the key are you comfortable with to handle your TronLink Wallet? Include Screenshots & hide/blur the sensitive information.
How to Store or secure your keys?
As we are all aware, the crypto world is associated with lengthy cumbersome alphanumeric adresses and keys. These keys and addresses are usually generated automatically by the blockchain with the use of cryptographic hash functions. These private keys and adresses are unique and different from others. However, it is very necessary to keep your keys very secured and private as well.
Here are some ways to secure your private keys;
Emails: In my opinion, the best way to save your private keys and addresses is through emails. Keeping these keys in your Gmail accounts is the best way to save your keys. Anyone without access to your Gmail logins cannot get the private address or keys. This keeps your account secured and confidential. When using an apple device, You can also keep the keys in your icloud account which is also similar to the gmail.
hard copy: The other way to keep your keys is through hard copies. You can also write the keys on papers and keep it somewhere safe. With this method, no hacker can steal your keys.
Better still, you can device a special way to memories the whole password in case of any misfortune.
What are the different forms of Private Key(Examples/Screenshot)?
Private key
This is the most common type of keys associated with the crypto ecosystem. These type of keys are usually addresses and they are generated using cryptographic hash functions on the blockchain. It looks cumbersome and lengthy. It consists of alphanumeric characters which are very difficult to memorise.
Typical example look like
bc1qk3wcl34jfucdwu739rsd80e6myh6as4x49lzy9
Mnemonic Key
This type of key is usually associated with decentralized wallets. When creating these wallets, you would be given some set of words to keep as your recovery phrase. These words are usually about 12 to 24 words depending on the wallet you are creating. The words then become a form of password to your wallet.
Keystore file
This is a type of private key which is used alongside the password set by you. This key is also generated from cryptographic hash functions. It also comprises of alphanumeric characters. It is used with the user password to recover lost wallets.
How to Install and Create TronLink Wallet
Step 1
- Go to Google play store and search for TronLink Wallet
- click Install to install the wallet.
- click open to open the wallet.
Step 2
- click on create account
- enter your preferred username and click Next step.
Step 3
set your new password yo meet the requirement and click Next step
confirm the password and click confirm
Step 4
click on Backup now to backup your mnemonic keys
save all the words. Or better still memorise all if you could and click I have saved it secured.
Step 5
- some of your mnemonic keys would be given for confirmation.
How do you store the key (Hint- write it down on a notepad, demonstrate it with examples)?
Aside writing the mnemonic keys on the paper and keeping it among my diary book, I have memorise all the words and I can write it down off head. I have save the screenshot in my Google drive and gmail account as well.
Which form of the key are you comfortable with to handle your TronLink Wallet? Include Screenshots & hide/blur the sensitive information.
All the three various keys have advantages in thier own way. Talking of the Private key, I think it very secured and reliable. Looking at the lengthy alphanumeric characters, It would be very difficult for you to memories the key.
I prefer the mnemonic key to all the other keys because it is equally secured but easier to memorise.
- Note: The best way to secure your keys is by memorization. However, due to the cumbersome nature of the keys, they are very difficult to memorise thats why other methods comes in handy.