Crypto Academy Season 4 Beginners' course - Task 9: Blockchain Wallet-- Types, Uses, Installation, etc By @fabiha
Good day all, today I will be taking my assignment for professor @sapwood in the Steemit crypto academy beginner course program.
1. How do you store/secure your keys?
I store or secure my keys by keeping them safe and as a secret. This is so because it is unique to my wallet and can be used for authentication, encryption, and total access to my wallet.
I basically keep them secure by backing them up as special files or writing them down and keeping them where I and only I have total and full access to them.
b. What are the different forms of Private key (Examples and screenshots)
The different forms of the private key are;
Private key
Mnemonic key
Keystore file (JSON file)
-Private key: This is a combination of alphanumeric characters that are created randomly as soon as you open /create a new blockchain wallet.
Example; “
”
With this key, you can have access to transacting the crypto assets present in the wallet.
Mnemonic key: This is another form of a private key but the difference here is that a phrase is involved. It is more like a group of words. They also perform the same function as the private key. But these phrases are easy to be memorized as humans are more comprehensive with words.
The phrase can be long from about 12-14 words long. It can be used to restore a wallet, reset a password and generate a wallet address.
But the sequence of the words always matters when restoring the wallet. And as such the sequence should be well noted when storing it.
Example “ ”
-Keystore file: This is another form of the private key, but it isn’t a private key because it is a JSON file.
Once a wallet is created or set up, a password is normally put up to be able to access the wallet. If the Keystore file is backed up, the wallet can be restored, But with the use of the file and the password previously set.
So therefore a private key is a combination of a Keystore file and a password previously set. The only difference between this and a private key or mnemonic phrase is that a password set by you is needed when restoring the wallet.
Example “
c. Download and install a Tronlink wallet (Android/iOS/Extension) Screenshots needed
I clicked on www.tronlink.org
then i clicked on chrome extension
i also clicked "add extension" so that the extension would be added to my desktop
It was then added as an extension on my browser
I then started the creation of my wallet by clicking "create"
I then put my account name which was the first thing to do in setting up the wallet
I was then given a list of words (mnemonics) displayed on y screen, which I had to put down in a safe place
The next thing I was told to do was to confirm the list of words earlier showed to me. This needed to be done in an orderly manner as the words were earlier shown, to avoid mistakes to occur
After I did that my wallet was successfully created as shown below
d. How do you store the key? (Write down on a notepad and demonstrate with examples)
I will store the keys to my new wallet by writing it down somewhere on a piece of paper, cardboard, or my private notes.
Then after I’ll make several copies of them. Also, I’ll include laminations to avoid them being eaten up by pests or soaked by water. All these will be done in parts to avoid the whole information embedded in a single piece of paper being lost.
e. Which form of the key are you comfortable with to handle your Tronlink wallet? (Include screenshots and hide/blur the sensitive information)
I am comfortable with all the forms of keys associated with the handling my Tronlink wallet. But the best I am very much comfortable with handling and having access to my wallet is the mnemonic key.
This is so because it contains a phrase, which is normally a group of words that I can easily memorize, understand remember whenever it comes to restoring my wallet, resetting my password, or generating a new wallet address.
Conclusion
Wallets are always being created every day without regard to how important keys are. But I learned today that one can tell each key from the other. I also learned how to store them really well. For the first time also I created my very own Tronlink wallet, which made me learn a lot. Starting from going to the website, setting up the account with my username, taking note of the mnemonic phrase which was really important. Most importantly I knew the most convenient key of all to me. To enable me to remember at any point in time. This task was really helpful and of great benefit to me. I say a big thanks to you all for the knowledge.
Respected Mention,
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