Steemit Crypto Academy Season 5 Beginner Course - Task 9: Blockchain Wallet - Types, Uses, Installation
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How do you store / protect your keys?
What are the different forms of private key (examples / screenshot)?
Download and install TronLink Wallet (Android / iOS / Extension)?
How is the key stored (hint: write it down in a notepad, prove it with examples)?
What key shape are you comfortable with to operate your TronLink Wallet? Include screenshots and hide / blur confidential information.
How do you store / protect your keys?
Well first let's see what a Blockchain Wallet is or what it is for, it is simple, it is a virtual wallet which allows us to send or receive cryptocurrencies in a safe and reliable way through a chain of blocks, that is, it works like an accounting book, which has the support and total management by the user of their cryptocurrencies.
Its security is extreme against possible hacker attacks, and as we already know these cryptocurrencies only exist digitally, so the only way to store and manage them is through these virtual wallets, which in turn are managed by different keys or private or public keys.
Private keys: the key or private key as the name indicates, is private, it is kept secret, it is the one that we will use to access our cryptocurrencies, only the user has access to it, through a password or pin.
Public keys: it works similar to a bank account, it can be delivered to third parties, without inconvenience, to receive or send money, it works by creating a cryptocurrency sending address to our Wallet.
Regarding my passwords, I tend to be very forgetful, that's why I decided to make a small diary and write down all my passwords there.
At the same time, I also have them written down in a notepad on my cell phone.
I also save it in a document stored in the cloud of my computer, with its password.
Having them printed is not too much, and I keep them stored among my personal documents.
What are the different forms of private key (examples / screenshot)?
- The Private key is nothing more than an asymmetric cryptographic chain, this key gives the user ownership of the full use and management of their cryptocurrencies, the public key derives from the private key, because it is possible to create The public key starting from a private key, digital keys are created and stored by users, so it is important that it is kept in control by the person who owns the account. It is through this cryptographic system in which it is developed that an infinite number of keys or private keys are generated.
- Mnemonic key: it is nothing more than a data or information memorization technique, this type of keys is applied by many bitcoin wallets so that users make use of it, remembering a certain number of phrases or words. When a user registers in a wallet that works with this system, they will be asked to save or remember a mnemonic amount made up of certain words, usually 12.18 to 24 phrases.
- Keystore file : it is another type of private key which is managed by the JSON (JavaScript Object Notation) format, we are talking about the Keystore, which is managed with the wallet password to be imported into it, if we forget our password, said store is not secure, since we can only use the mnemonic key to import the wallet and thus reset the password.
How is the key stored (hint: write it down in a notepad, prove it with examples)?
Well, as I said before, writing them down is a good option to have them physically, also making a capture of the image and saving it both in the cloud of the phone and on the PC.
What key shape are you comfortable with to operate your Tron Link Wallet? Include screenshots and hide / blur confidential information.
I think that the most comfortable and secure way is with the mnemonic key, as long as you keep your passwords well written and stored in the order shown, so that there are no errors or complications when entering them when required.
Conclusion
Definitely, this class turned out to be very interesting, since it allowed us to see and learn a little more about the management and use of the keys or keys with which the Wallet is governed, for our protection of the movement of our cryptocurrencies, and the importance that this lies in having a good safeguard of our keys, so as not to have any kind of problem when wanting to access them, it is always good to have a plan B, in case something is presented, having it only digitally always has its risks, thanks again to professor sapwood for this interesting assignment.