A Detailed Explanation Of Stellar Wallet Part1

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Hello crypto friends,

It is a new day and I feel great joy to come before this great community today.

I believe you are all doing perfectly well and are enjoying your activities in the community.

In one of our discussions, we learnt about the different types of cryptocurrency wallet and today we shall be examining another.

Please continue with me as we dive into this.

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STELLAR WALLET

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Stellar wallet can be explained to be a very important part of the stellar network, which happens to be a decentralized blockchain that was created to aid a fast transaction and a low cost border transactions.

This wallet allows it's users to send , receive, store and manage their stellar tokens and this includes LUMEN(XLM), which is the native currently of the network.

The stellar wallet act as an aid that helps users to interact well with the network, it also function as a cryptographic Key's digital container.

These keys include both the private and the public keys.

The private keys functions as a secret code/phrase used in the authorization of outgoing transactions , and the public keys on the other hand functions as an address used to receive tokens from other wallet.

We have three main types of stellar wallet, the software wallet, the hardware wallet and the paper wallet.

• SOFTWARE STELLAR WALLET:

The software stellar wallet Is known to be a type of wallet that is installed in mobile devices and allows users to interact with stellar network.

This wallet allows users to send, receive and manage stellar based cryptocurrencies and they are generally friendly and convenient to use, thus making them loved by the public.

Stellar software wallet can further be classified into web wallet and mobile wallet.

Web wallet are those that can easily be accessed on the web through an internet connection, and they are most often vulnerable to attack from scammers.

Mobile wallet on the other hand are the ones that are installable on mobile phones and are very portable.

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CONCLUSION

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The explanation on stellar wallet is very broad and we shall examine them in our coming discussion.

The stellar wallet has some unique features which will be discussed in the preceding articles.

It is good to note that the stellar wallet only support the management of stellar based cryptocurrencies.

We shall see again 😊