Blockchain wallet - Steemit Crypto Academy Season 4 - Homework Post for Task 4.

in SteemitCryptoAcademy3 years ago


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This post answer the question to the homework task for the steemit's Crypto academy fixed beginner's course task 9 by professor @sapwood, with the question;

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.

How do you store/secure your keys?

Blockchain wallet are secured by cryptograhy which are essential in blockchain technology. This security are in form of encryption made by keys. There are two key associated with the wallet which are private and public Key. These keys cannot be recovered if misplaced or forgotten hereby leading to the loss of the wallet and all the access within it.

The public key of any wallet as it's name implies can be made known to the public just like the account number of the local bank which can be given to any body. The public key do not need any form of protection as it can be seen by all.

The private key is quite the opposite of the public key as it's name implies secrecy. These key is used to access the wallet and authorize transaction within it. It is believed in Crypto that who so ever hold the private key of any wallet owns the asset within it. The private key is to be protect to the Maximum way we can as it cannot be recovered if lost and all the asset within it can belong to who ever see the private key.

Private key can be secure by saving in on a Google drive, a hard disc and can be saved by write it on a note whivh is the best method save away from all electronic hack and viruses.

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

  • private key

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A set of key create by algorithm combination as soon has a decentralized wallet is been created, usually a combination of bothe alphabetic and numeric charater given to the new user for access to the Created wallet at any point in time.
  • mnemonic key

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This key work also to security a wallet and the key are word phase that are been arranged in different combinations and fix number that can be memorized by the owner. They are seed key has a specific arrangements of word which is to be followed when storage or using them.
  • key store file

This private key is a backup file created form the wallet are you are done setting up the wallet. This backup is be secured with an owner password by it owner and can be used to restore a wallet by restoring the backup file and inputting the password you set up.

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

Visit the Google play store on Android device to download the Tronlink wallet APK.

  • Click on this link to install
  • After installation, open the apk then create a new wallet
  • Input the name for the wallet you want to create
  • Set up a password meeting the requirements of the application
  • Confirm your password
  • Then secure your mnemonic phrase and back up your wallet.
  • Confirm your mnemonic phrase and the wallet has been back up and ready to use.

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Tron link APK do not allow screenshot of the backup page so I cannot make example using screenshot


How do you store the key

I stored my key by writing them down in my note and the note is alway in my closet away form contact form anybody. Below is a screenshot of evidence.


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

The mnemonic phrase is the most comfortable of all the key for me as it is easily to spell out the phrase without mistake when I'm typing to fill in for wallet recovery.

Conclusion

Blockchain wallet help to hold asset and complete transaction without the involvement of any third party in the transaction but if not carefully handle a lot of loss might be incurred as the private key cannot be recovered when lost or the asset within the wallet is been compromised when the private key are been revealed to the world.

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