Blockchain Wallet-- Types, Uses, Installation, etc. - Steemit Crypto Academy Season 4 - Homework Post for Task 9

in SteemitCryptoAcademy • 3 years ago (edited)

HELLO EVERYONE,
Hope you all are doing well. My name is Syed Huzaifa and I intend to write about Blockchain Wallet-- Types, Uses, Installation today. In this post, I'll be particularly focusing on the Keys and TronLink. This is Crypto Academy Season 4 Beginners' course - Task 9 homework post assigned by @sapwood. Let's move on to the topic.

WhatsApp Image 2021-10-03 at 4.58.30 PM.jpeg

Homework post 9

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
.

image.png

How do you store/secure your keys?

We use dozens of applications daily to do different tasks. Since all the applications store our personal and professional data, they need to be protected from being hacked, and for that purpose, keys are used. These keys should be kept safe so that the data could be secure.

Following are the way by which I store/secure my keys:

1. Saving a PDF file:

I prefer not to store your passwords on any online drives because if the password is revealed your data may be stolen from online drives. One of the ways I use for storing my keys is in the form of PDF. I make a PDF file containing all the keys and save it on the drive of my laptop.
(Image source)

2. Storing Keys On Samsung Memos/Notes:

One of the other ways for storing my keys is on Samsung Memos. Since I'm a Samsung user, I found its application very user-friendly and reliable.
Image source

image.png

What are the different forms of Private Key(Examples/Screenshot)?

There are three kinds of private keys mentioned below:

  • Private key
  • mnemonic key
  • Keystore file key

Private Key:

A private key is one of the most significant keys as it can be used to make transactions via your account. Simply put, anyone with your private key can access your account and transfer all funds to another account.

The private key is a combination of alphanumeric characters that are created by the blockchain when you make an account on that blockchain.

4CFE51F09890AA03D721EE49B19thYT979UGFH8hJUVV6B1902B519A0

Sample of a private key

Mnemonic Key:

Mnemonic keys are the arrangement of some alphabetic characters, it's another form of private keys and also be called seed keys. The mnemonic key is generated by the blockchain's wallet and the user has to write it in the same sequence as it was shown before. The reason why this type of key is preferable is due to the comfortability it provides to the user. These keys are the common word we might use in our daily life, moreover, these are easy to remember.

The example for a mnemonic key is given below:

image.png
Source

The user has to memorize it or can write it on paper for later verification of the mnemonic key. An individual has to write it in the sequence as it was generated by the blockchain. Later on, I'll show you how to do that. This key can also be used for restoring a wallet.

Keystore file key:

Until so far we have discussed two types of keys, but there is another which is the most secured among all and it is known as the Keystore file key. The keystone is a JSON file, an encrypted version of your private keys. It can be referred to as another form of a private key. The keystore file key is more like a vault containing your private keys which can be unlocked by the password set by you.

image.png
Source

Simply put, Keystorefile+Password= Private Key.

With the help of Keystore file key one can also restore the password of its wallet. These keys are different from private and Mnemonic keys as they don't have a password for accessing.

image.png

Download & Install TronLink Wallet(Android/iOS/Extension)? How do you store the key(Hint- write it down on a notepad, demonstrate it with examples)?

TronLink Wallet Extension:

For setting up the TronLink Wallet, a user has to go through the following steps:

One can also download TronLink Wallet on Andriod as well as on iOS

Go to www.tronlink.org

Screenshot (235).png

  1. Select Extension
  2. Click on Chrome Web Store

Then click on Add to chrome.

Screenshot (236).png

Then Add Extension to your chrome.

Screenshot (237).png

After you add it can be viewed from the chrome extension. Pin it so you can easily open your TronLink wallet.

Screenshot (238).png

Once you pined it, it's time to make an account on TransLink.

  • Create a password and retype it in the next column.
  • Press continue.

Screenshot (239).png

Now, click on Create for creating an account. You can also restore your account from the restore option.

Screenshot (240).png

Then, set a username, as mine is syedhuzaifa123. For moving further press Continue.

Screenshot (241).png

Just after pressing continue, you will be given the mnemonic key that you have to enter with the same sequence in the next step. You can memorize the sequence or can write it on paper.

Screenshot (242).png

In this step, you have to confirm the sequence.

Screenshot (243).png

After confirming the sequence of the mnemonic key, your wallet will be opened and now you are good to go.

Screenshot (244).png

image.png

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

Like everybody else, I will go with the Mnemonic key for accessing my TronLink wallet. The reason for choosing the mnemonic key is because it's the only key written in English. There is no such number, brackets, or symbol despite just words in simple English. It's easy for people to memorize or one can also write it in a diary.

WhatsApp Image 2021-10-03 at 4.14.17 PM.jpeg

image.png

Conclusion:

In this post, I have discussed different types of keys namely:

  • Private key
  • Mnemonic key
  • Keystore file key

Furthermore, we discussed in detail how to use/download the TronLink wallet.

image.png

I hope you like today's post and learn something new. Take care, Goodbye.

Regards,
@syedhuzaifa123.

Cc.
@sapwood

#academys4-intro09 #cryptoacademy #pakistan #steemexclusive #steemit #wallet
3 years ago in SteemitCryptoAcademy by
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    • [-]
     3 years ago 

    The title of the post is incorrect. When the title is something else and content is something else the entry is invalid.

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      [-]
       3 years ago 

      Thank you for correcting me, mam. I have updated the post with the right title, hope you will like it. Moreover, I have focused on the key point you told me in the last homework post.

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        [-]
         3 years ago 

        @dilchamo kindly review my assignment.

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           3 years ago 
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