BLOCKCHAIN WALLET-- TYPES, USES, INSTALLATION - STEEMIT CRYPTO ACADEMY SEASON 5 - HOMEWORK POST FOR TASK 09
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(1) 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?
Keys are secret numbers that are used in cryptocurrency or cryptography, they are similar to a password. In the crypto space, keys are used to claim ownership of a blockchain wallet address and they are used to sign transactions also.
source Keys usually appear in form of a large string of alphanumeric characters, and they are randomly generated by the wallet. In crypto space, anyone can deposit funds into a crypto public address but only the owner of the address can access those funds with the private key.
It is important for users to prevent their keys from being compromised or lost, this is why users must store their keys safely in a well secure place that only they can get access to.
Keys can be stored on a password-protected computer or mobile phone, or on online servers like Microsoft OneDrive, DropBox, or Google Drive. Also, know that the way you secure your keys depends on how regularly you plan on using those keys.
Writing your keys down on a note and keeping it out of reach for me isn't a bad idea but that shouldn't be the only place you store your keys. It is advisable to create duplicates of your keys and store them in different locations.
What are the different forms of Private Key(Examples/Screenshot)?
A private key consists of extremely large characters that are used in cryptography or cryptocurrency, they are quite similar to passwords. Private keys are used to register digital signatures for easy verification without exposing the contents of the private keys. In cryptocurrency transactions, private keys are also used in other to verify ownership of a public chain address.
Mnemonic key: Most organizations offering crypto wallet development services use mnemonic keys to enforce the security of wallets. They are seen as an alternative to passcodes. Mnemonic key consists of 12, or 15, or 24-word phrases that are connected directly to a private wallet.
Keystore file: Also called a UTC file, in a blockchain network is an encrypted form of your private key. If you open a Keystore file on your computer's text editor, it consists of data related to the encryption of your private key. Using your password and private key, a Keystore file is generated.
How do you store the key(Hint- write it down on a notepad, demonstrate it with examples)?
I've said before, keys can be stored by writing them down on a piece of paper, note or jotter. After writing them in the same order the wallet generated them for you, crosscheck them again to prevent mistakes. Now keep it out of reach from the human eye.
[photo captured by me] Which form of the key are you comfortable with to handle your TronLink Wallet? Include Screenshots & hide/blur the sensitive information
I am more comfortable with using a private key to handle my TronLink wallet and that is the key that was generated for me by Steemit. The private key can be easily copied and kept safely, it is a line of long characters meant to keep your wallet safe. As long as I keep my keys safe and hidden, there is no problem.
CANNOT TAKE SCREENSHOTS FROM THE TRONLINK PRO APP, IT IS PROHIBITED