Blockchain Wallet(Types, Uses, Installation) - Steemit Crypto Academy Season 5 - Homework Post by @habdallah

in SteemitCryptoAcademy2 years ago (edited)

Screenshot_20220112-075723.jpg

1.HOW DO YOU STORE/SECURE YOUR KEYS?
WHAT ARE THE DIFFERENT FORMS OF PRIVATE KEY(EXAMPLE/SCREENSHOT)?
DOWNLOAD & INSTALL TRONLINK wallet (android,iOS,extension)?

2.HOW DO YOU STORE THE KEY(HINT- WRITE IT DOWN ON A NOTEPAD DEMONSTRATE IT WITH EXAMPLES)?

3.WHICH FORM OF THE KEY ARE YOU COMFORTABLE WITH TO HANDLE YOUR TRONLINK WALLET? INCLUDE SCREENSHOTS AND HIDE/BLUR THE SENSITIVE INFORMATION.

I WILL BE TACKLING THE FIRST QUESTION WHICH IS ASKING ABOUT HOW TO STORE/SECURE YOUR KEYS.

When you take a look at the blockchain technology you will notice that it is one of the most secured and safest technology in the world. It is one one of the technologies which is hard to tamper with. This is because it decentralized and works on different nodes around the world.
On the blockchain network, one can only get access to his account with the help of his keys.
Just like the keys you need or require to get into your room.

Keys are code encryption which are generated on the blockchain network after creating a wallet, which is used to assess one's crypto assets.
These keys are meant to be kept secret and secured from other people just as the key to your room shouldn't be shared with anyone. The keys serves as a gateway to your crypto assets. Your keys are very important tools that should be kept safe and secured. You wouldn't be able to access your crypto assets in case you loose them. So they need to be stored in a secured place. There are so many ways you can choose to store your keys.

Hardcopy storage:
You can store your private or mnemonic keys in a MS file or pfds which is quite different from digital Offline storage:storage eg. floppy disc storage.

  • Offline storage:
    With the offline storage you can choose to store your keys on hardware devices like the USB drive or hard disk drive. By this means, it makes it secure from hackers. You can access your keys when you put the hardware device into your computer.

  • You can also choose to write your keys down in the case of a mnemonic key. Which is also one of tge safest and secured ways in storing your keys.

  • Online storage:
    You can also choose to store your keys on the internet in order to keep it safe. This is termed as online storage.

DOWNLOAD & INSTALL TRON-LINK WALLET(ANDROID, IOS, EXTENSION)

To download the Tron-link wallet you have to go to google play store or apple store. You then type in tron link wallet in the search bar it will then appear. You then tap on download and wait patiently for it to complete downloading.
You then open it after the download.

As you can see i have already installed mine

Screenshot_20220112-124612.png

Screenshot_20220112-124408.jpg

my mnemonic keys

The different forms of private key(example/screenshot)

Private key can be defined as a cryptography keys that is being generated after creating a crypto wallet and it is the only key that allows a user to have access to their cryptocurrency assets. Private key is an integral or a core part of the Blockchain technology.
Below are the three main types of Private keys.

1.Private key:

The private key is a combination alphanumeric key that grants a user access to their crypto assets. These key are created randomly after you sign up for a blockchain wallet. Which is cryptographically.
Your steemit keys is an example of a private key. It is a very important tool and needs to be kept safe.

2022-01-12-11-24-42-.jpg

https://images.app.goo.gl/P1wT3rTUTSQww1cf6

  • Mnemonic key
    The Mnemonic key also known as the seed phrase, Mnemonic phase are generally compose of 12, 15, 18, 21 words. They use BIP-32, BIP-39 specifications and are very easy to handle. They work just like the private key.It can be used to restore a wallet and also restore passwords. They are also generated exactly after signing up an account. But you have to know that it is not encrypted. So you have to take a good notice of how the mnemonic phrase are arranged when storing them.
    These keys are easy to remember because of it is.

400px-Mnemonic2.png
https://images.app.goo.gl/9wgjmPWqPPgcoTpk6

  • Keystore file:
    A keystore file key is a type of private key which works with a password alongside. Which tends to make it different from the other keys.
    It is encrypted there by making it a very strong key. It can sometimes be used to identify the author of an App.

PrivatekeyHide.png
https://images.app.goo.gl/aQ3CaL47NNJrhySr9

Which form of the key are you comfortable with to handle your TronLink Wallet? Include Screenshots & hide/blur the sensitive information.

With regards to the keys i feel much comfortable and secure with, i will go for the mnemonic key.
This is because it very easy to store and can be memorized and remembered easily incase you loose it. accessible.

In conclusion, one should know that his or her keys are the only ones he can use to access their crypto assets. Therefore they should take good care of it. Also there are so many ways one can choose to store their keys.

Coin Marketplace

STEEM 0.30
TRX 0.12
JST 0.033
BTC 64344.02
ETH 3142.36
USDT 1.00
SBD 4.01