Steemit Crypto Academy Week 2 Homework Post for [@sapwood]
Hi,
This is the task, Homwork week 2 By the Respected Steemitcrypto-academy Professor @sapwood (India).
The question given by him, is, how to install and download a blockchain wallet, how its keys are important and how would you like to store these keys?
It is very good and useful question by the @sapwood because it is very valuable to know about a blockchain wallet as it is the treasure place of your assets.
We should find a secure way to save our assets in a blockchain wallet.
I would like to tell the procedure of Tron wallet here in details.
Here it is necessary to mention about the views of the man who says, "How can I do it"?
I say to him, Yes! You can do it.
I prefer to divide the procedure of installing and downloading a Tron wallet.
Step: 1, Go to the google and write download tron wallet.
Step: 2, when the cite is open then click the "open wallet" tab and select file or "create wallet". after this the process will begin...
Kinds of wallet:
- Trone Andriod Wallet.
- Trone Chrome Extension Wallet.
- Trone Web Wallet.
- Trone iOS Wallet.
- Guarda.
- Coinomi.
When you install a wallet, you must save your private key, Mnemonic key and restorekey file.
These keys are of much values as if they lost, you will never be able to acsses your wallet.
Functios of Keys:
Private key:
Private key is very important to save in your device secretly and it will never be revealed because if someone finds your private key, he can access your wallet and can change the password and get the control over your wallet.
Your transaction depends on your private key + password. When you install a wallet that is created randomly and have alphanumeric characters. Using this key, you can spend your coins, So keep it safe place.
Mnemonic Key:
In some way, you can say that Mnemonic key is the second form of private key and it consists of mnemonic phrases. It performs same targets as private key does. It is readable and can be memorized easily because it is like, 42,84,92,71,56. It can restore wallet and can change the password. It also can be used to generate new wallet addresses.
Keystore File:
Through keystore file, you can restore your wallet again if you have backed up it at the time installing wallet.
The Best Way To Save keys:
It is highly recommended to save your keys in a pen drive or write on a paper.
Never store your keys in your Email or send them to another Email or in your PC as it can be hacked by the hackers.
I hope now you can easily done all the process described above.
Special Thanks:
Cc:
@steemcurator01
@steemcurator02
@steemcurator03
@steemcurator04
Thank you for submitting homework task-2 in Crypto-Academy.
A keystore wallet alone is not a private key. So when you recover your wallet using the Keystore File you also need to enter the password(set by you in the previous installation). So be careful with your password, better save it just like you save your private key(if you are using a Keystore file).
Keystore File+Password(set by you) ~ Private Key
Your own experience with a wallet and the step-by-step process would be the ideal way to take on a task like this. In that process, you also develop a better understanding of a particular dApp/Wallet.
Thank you.
Thank you dear, @sapwood for guidance and support.