First of all, I would like to pay thanks to the Steemit Team for creating this amazing initiative where many users are learning different things regularly. Also for the Amazing Professors chosen that are creating profitable lectures that are full of interesting information just like this one by @sapwood which is named as Steemit Crypto Academy- Blockchain Wallet- Chapter-3
. There is another new thing in the lecture that i learnt and i can't thank him enough for this.

The Homework Task :

(1) Have you ever used a Hardware/software wallet? Which one is having a better security advantage?
(2) What are the important points to consider when you deal with an Exchange(centralized) Wallet & Decentralized wallet. How do you secure/restore both types?
(3) Give an example of a Web 3.0 wallet and what are the distinct uses of a web 3.0 wallet? Have you ever used any Web 3.0 crypto Wallet? Examples?

Steemit Crypto Academy- Blockchain Wallet- Chapter-3

My Homework :

Answer : 1

I had never ever heard of a Hardware wallet infact to be very honest, i couldn't think of having such a wallet for real that too for cryptocurrency. I don't know the genius behind this initiative but wow this has been a wonderful integration in the world of Cryptocurrency. Although i didn't get the privelege to enjoy using a hardware wallet, but since the Steem Trx Integration, i have been using Tron Link Pro which is a software wallet. It has security which is quite reliable but the fact that it is connected to internet and now in the days, anything that is over the internet can be hacked even after a fool-proof security, so how can we call anything 100% Secure? This is what would have taken the mind of the genius towards the initiative of Hardware wallet. When i heard of this term, i merely thought as if it was really a normal wallet and i got much confused as to how would a hardware wallet be requiring keys to get open :p Then i went through the post and understood the fact that it is basically a hardware device which an offline copy of the keys. The passcode recovery has a 24 word phrase if in case you lost your password. SO since it is not connected via any means of internet, it is much better than a software wallet in terms of security advantage. Also keeping a device with you that works on your keys offline keeps you unworried of the threat that your keys can be hacked by someone. It assures that you are the only owner of your account until you yourself expose your keys to someone else. While studying from the post, i went over to the internet to find some Hardware wallets and to see how they work, i found some hardware cryptocurrency wallets which made it clear to my mind about the existence of hardware wallets and that it is being used by crypto-currency holders. Now what interesting information i got is that these hardware wallets can be connected to your PC. To use them you have to connect it to your pc, then you can make a transaction or such sort of a thing. Here i am a bit confused that when we connect it to pc, our pc is directly connected to Internet; So is there a chance of our keys being indirectly connected to the internet so can they be hacked? I read about it quite detail as to how hardware wallet only confirms our keys using the pin or the optional phrase but still this question was in my mind for a long time.

As the example of software wallet, i use Trx wallet and possibly for the future when i get more knowledge of cryptocurrency and if i would someday invest in major cryptocurrency, i would love to get a hardware wallet as it is far more secure than software wallets :)

source

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Answer : 2

When it comes to Exchange, it comes in two ways,
Centralized and Decentralized.

Centralized	Decentralized
In centralized exchange, there is always a third party involved	Whereas in Decentralized exchanges, most of the control is with the user/individual.
Since third party is involved, there is a risk of hacking	Very least possibility of getting hacked as the control is with user.
On the contrary, Centralized exchanges provides various features	A less features provided in Decentralized exchanges!

Points to remember while you deal with an Exchange:

• Use an email that is easily accessible to you.
• While setting a password, try to keep it alphanumeric, and store it offline with you so that if you even forget that, you have it saved with you.
• Keep the entered mobile number active so that you can get the OTP/2FA.
• In Centralized Exchange, OTP/2FA will be used to perform transactions.
• In Decentralized Exchanges, Only the private key can bring us back to our account. If we keep that safe offline :)

Answer : 3

Examples of 3.0 Wallet :

• Mist Browser:

Developed by ethereum foundation that needs to be fully synchronized with ethereum foundation before use. Can be used to interact with dApps. It is a standalone browser.

• Coinbase Wallet:

A wallet for iOS. It is described as the most easiest and the most secure and protected wallet.

So far i haven't used any wallet 3.0.

This is all about my Homework post week 3. I once again thank Sapwood for the amazing lecture provided :)

Regards,
@haidermehdi.

Special mentions:
@steemcurator01.