Crypto Academy Season 3 Beginners course I Task 6 I Blockchain Wallet types and uses

Greeting to all the steemians. This is the last task of beginners courses. I have enjoyed all the homeworks and learned great things. I am very thankful to all the professors. Now let's move toward this homework which is about the blockchain wallet types and uses for @sapwood.

Source

(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.

(1) How do you store/secure your keys?

We daily interact with multiple platforms. Some among them are centralized and some are decentralized. In centralized platform, there is always a middle man to solve the user queries and for help. In case of having trouble in logging into your account, you can interact with them. If you lose your password or keys in centralized networks, the central party can help your in recovering that. The whole users record is there to the central party and he have access to the user personal information even to the passwords. So if user lose his password in centralized platforms, you can recover them again.

But if we talk about the decentralized platforms, there is no way to recover the password if you lose them. There is no middle man to help you. So you should be very careful about the backup of your keys and passwords. Not only in decentralized platform but also on centralized platforms. Keep your password at secure place.

The most secure way of keeping your password is keeping them offline. I do not beileve on keeping my passwords backup online because online sources may get hacked. So i prefer offline way of saving my all passwords. I have a diary where at the end, i write down all my accounts passwords. I have stored all my accounts password and keys in a USB, noted all the passwords in Notepad too. I have created a folder on my desktop where i keep all my passwords.

A few year ago, i used to keep my passwords and keys in google drive but then i read somewhere that the online can get hacked. So since then, i never stored my any password in google drive. I try to keep my private keys save to offline.

2- What are the different forms of Private Key(Examples/Screenshot)?

There are basically three types of Private keys.

1- Private keys
2- Mnemonics keys
3- Keystore keys

Private key:

Private keys are a combination of alphabets and digits. The Private key is use to access your wallet. This key should be kept very securely because having this, any one can access your wallet. So keep your private key very privately. The private key is in the following form.

Mnemonics key:

In private key, we have a string consisting of letters and digits but mnemonics is different from that. In mnemonics, there is a group of words. These words are random and do not make sense with each other. All the words are written in small letters and no digits or special character is use here in mnemonic keys. You need to keep all these words very securely because you always need these words next for completion of task.

The best way to store the mnemonic keys is to write them down on the notebook. The mnemonic keys are very important. You can change the other keys using the mnemonics. You can even recover your account using these words. This set consist of 12 words.

Keystore key:

This key is a combination of words, digits, special symbols, commas, etc. There are many signs in the key store file. If you miss a signal sign, the key store key won't work. So mostly these keys are stored in form of screen short because if you write down and miss any sign while writing down on notebook, the key file will not work. So take screen short and save that where you think is private and secure.

3- Download & Install TronLink Wallet(Android/iOS/Extension)?

1- Search for Tron wallet on plat store.

2- Click on install button

3- Now the tron wallet has been installed in your mobile phone. Now next is to install that. Open the tron wallet and click on the Create Account.

4- In next page, multiple conditions are given. Click on accept to continue.

5- Set the name of your account.

6- Set password. There are some condition to follow while creating your account name such as 1 uppercase letter, one lower case letter, 1 digit and at least 8characters.

7- And your account has been created.

4- How do you store the key(Hint- write it down on a notepad, demonstrate it with examples)?

While creating the account, i have given a set of words(mnemonics) which i need to keep securely. This set of consist of 12 words. I wrote down those words on my diary. I was not able to take screen short, so i simply note down all the words a my copy.

5- Which form of the key are you comfortable with to handle your TronLink Wallet

For me, the most comfortable key is mnemonic key. We have studied above that private keys are combination of alphabet and digit. Key store file consist of multiple signs, digits and alphabets. So both these are hard to understand. The mnemonics are easy to understand as these only consist of english words. So for me the most easier key to log in to the Tron wallet is mnemonics. I also use sometime the private key but prefer the mnemonics and use it frequently.

Conclusion:

We should keep all our keys very privately. Keeping backup of keys is most important because there are some platforms where you cannot recover your losing passwords so keep backups very carefully. Here i learned about multiple types of keys and learn to install the tron wallet in my mobile phone.

Cc:

@sapwood