Homework-Task 2 | Blockchain Wallet- Chapter-2 by @sapwood
Hey everyone thank you @steemitblog for this great initiative in the form of SteemitCryptoAcademy This is very helpful and productive in learning. Thank you @sapwood for the informative lecture post about Block chain wallet. Here is mine homework assignment given by you.
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Homework-Task
How do I download & install a wallet? Examples(Hint- Etherum, Tron, etc or any other you wish to)? How do I restore a wallet using a Private key/Mnemonic key/Keystore file? How important is the Mnemonic key or Private Key or Keystore File during the installation/restoration of a wallet? How do you store/secure your keys? Examples? Any Blockchain wallet you have used before, having the experience of any/all the three forms of keys-- Private/Mnemonic/Keystore file?
How do I download & install a wallet?
For downloading and installing its quite easy. For android We can simply use play store of our phone. We have to go to play store in search bar write " Tron Link pro". You can find it in first place like this
By clicking on it the app will appear and there will be an option of install you can install it by clicking on that. Once the installation is completed the option will change to open.
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This is how the download process is complete. Simple and easy download of wallet. Then when you'll open the wallet it will appear like this. There are options Create account, Import account, Cold account. For creating an account tap on create account option.
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Read the agreement and accept the privacy agreement. Then there are three steps set your username, password and password confirmation. After that it will show your Mnemonic key and you must write it and save it carefully. You should never take screenshot of this key.
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In this way we can create our tron wallet account in just few steps. It hardly take 10 minutes. Once the creation is complete the final interface will be like this.
How do I restore a wallet using a Private key/Mnemonic key/Keystore file?
For restoring wallet in Tron link. First we open the app and the same interface will appear as I showed earlier.
We'll tap on Import account option. After taping the following screen will appear with these options
- Private Key
- Mnemonic Key
- Keystore
- Watch Wallet
- Create Wallet
You can restore your wallet with the help of these keys. I use Mnemonic Key option and it showed me further these options. From here you can select HD wallet or Non-HD wallet as per your wallet type. I chose HD wallet.
After taping HD wallet It will lead you the page to enter your Mnemonic Key. You can see there are 4 steps.
- First you have to type the 12 word key accordingly followed by space after each word.
- Then You can set you User name according to your will.
- Then set your password, it can be the old one or the new one.
- The final step is of confirmation of your password.
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In this way you can restore your Tron wallet. After completing the above mention step it will lead you to your wallet and you will be able to see and use your wallet again.
How important is the Mnemonic key or Private Key or Keystore File during the installation/restoration of a wallet?
These all keys are very important in restoration of wallet.
Mnemonic key is the randomly generated 12 words. Mnemonic words are generated automatically by the wallet using the standardized process. For mnemonic key you have to save it the exact way it is shown to you. The sequence matter a lot in mnemonic keys.
Private key is also very important key because with the help of this anyone can have complete access of our wallet.
Keystore is process of storing your keys. For this the best option is to use backup and save your keys for easy access.
Mnemonic and private keys are very important and must not be shared with anyone
How do you store/secure your keys?
As these all keys are very important for restoration we should store them securely. I save my keys by noting them in my diary and by taking a hardcopy of them in print form.
Any Blockchain wallet you have used before, having the experience of any/all the three forms of keys-- Private/Mnemonic/Keystore file?
No I haven't use any blockchain wallet before but as I am on steemit I surely will experience this too.
Special mentions;
@steemcurator01
@steemcurator02
@steemitblog
Thank you for submitting homework task-2 in Crypto-Academy.
A Keystore file is a JSON file, an encrypted from of private key, however, it is not a private key alone. When you recover your wallet using the Keystore File it will ask you to enter the password(set by you in the previous installation).
Keystore File+Password(set by you) ~ Private Key
If you want to recover your old wallet using Mnemonic key/Private key, you don't need a password to unlock it. That's the difference between the Mnemonic/Private Key & Keystore file.
Thank you.
Thank you so much for going through it. I am new to these all things and in the process of learning by your lectures. They helped a lot. Noted!