WALLET SEED-PHRASE AND WHAT IT ENTAILS

Hello to everyone in this wonderful community today and on this great platform at large today. I greet you all in good spirit and I want to believe that we all are doing just great today and if so we give God the praise for the sustenance of life and good health.

I welcome you all to yet another beautiful day of the week and I want to believe that we all had a lovely weekend with friends and family. Now that we all have resume to our various occupation, I wish us all a successful stress-free week ahead.

Today, I am here amidst you all to discuss about an important topic regarding the cryptocurrency wallet. We have been talking about the digital wallet and it's seed phrases and as such, I have decided to talk about what the seed phrase is all about. In a nutshell, I have titled today's discussion to be WALLET SEED PHRASE AND WHAT IT ENTAILS.

This is going to be an interesting discussion, so I urge you all to sit tight and relax as I begin the discussion for today. I wish you all a happy reading as I begin.

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The digital blockchain is designed in such a way that the security system is top-notch. As such, the cryptocurrency wallet was built based on the blockchain security system of operation. The blockchain security system technology has influence even the conventional institutions that they now imitate the blockchain technology especially when it comes to the financial institutions.

This is to bring it to your notice that the blockchain technology revolution has a great impact especially when it comes to security aspects. Let's not digress from the teaching, now why not we indulge the discussion properly to save time.

WHAT IS WALLET?

Before we move further, I will like to explain what the given term Wallet entail especially to newbies on the space so as to aid proper assimilation and accommodation of today's discussion.

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Wallet is regarded as a medium by which funds are kept. Conventionally, a wallet is like a safe in which money are store and protected. We carry wallet in our pockets containing money everyday. Now this small item that can go into our wallet with our money inside it is called a wallet.

In cryptocurrency, a wallet can either be a cold(hardware) or hot(software) wallet. The cold and hot wallet performs a similar function and this function is to store and secured our cryptocurrency assets in them. With these wallets, our funds are protected and stored safely.

In a nutshell, a wallets can be a software bases application which is known as the hot wallet, or it can be more of a hardware which stores our cryptocurrency assets and keeps the asset safe.

Now this brings us to the main discussion of the day which is the seed phrase.

WHAT ARE SEED PHRASES?

Seed phrases are a mixture or combination of various phrases in the making of the ultimate key known as the private key. When the integration of the seceral phrases is done, the private key is created and this private key is what one needs before he or she can get through the wallet to access the funds in it.

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Now this seed phrases allows a user to access his or her wallet whenever the need arises. One may eventually Uninstall the a particular wallet and that does not mean that the funds in the wallet are begin just because the wallet has been uninstalled, the funds are still accessible provided that the user still possess the seed phrase to the said wallet in question.

The seed phrase serves in the positive of the private key which gives one the ultimate power to grant requests regarding signing into the wallet just the way we sign into our steemit wallet. Different seed phrase are connected to different wallets, as such, a particular seed phrase can not gain access to any other wallet but the wallet it is meant for.

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In a nutshell, the seed phrase is a combination of the bringing together of different words which eventually forms the private key to a wallet and without the seed phrase, the funds ib that wallet is gone. If a wallet is uninstalled, the funds in such a wallet can still be accessed just by downloading the wallet again but when the seed phrase of a particular wallet is lost, unfortunately, the assets in such a wallet is gone and can not be accessed unless with the respective seed phrase it is connected to.

Thank you all for your time. We have come to the end of today's discussion. I hope you all learned from today's teaching. I look forward to seeing you all when next I am here. Have a good day.