As a decentralized wallet, wallet, how to detonate the of market?

  • The is already a new household term, and with the rise of , the widespread use of encrypted tokens, the frequency of use of wallets has also increased dramatically. Today, we will focus on the knowledge of wallets.

    What is a wallet?

    When it comes to “wallet”,the first thing that comes to mind is the traditional physical wallet, a tool for storing cash and making it easy to carry paper money everyday. So what is the wallet?

    As the name implies, it is also a tool for loading “money”, except that the wallet is for loading “token”, such as bitcoin , anyone with a token asset will use the wallet. Because the wallet is the most basic tool for storing and managing your own token.

    There are also many types of wallets. In general, wallets can be divided into cold wallets and hot wallets.

    The biggest feature of a cold wallet relative to a hot wallet is that it never touches the network, essentially it is a storage tool for private key.

    In the token scenario, the user does not need to save his own token, but only needs to keep the password or private key, which is the private key. The transfer needs to be signed with the private key to initiate. The anonymity of the token determines that when the private key is lost you will lose the money. You can no longer prove that the account is yours, so keep the private key carefully.

    Cold wallets can make this string of characters never touch the network, and after leaving the network hacker, it becomes difficult to be stolen, it is more secure. The specific method includes putting the key into the Android system, and the mobile phone equipped with this system cannot be connected to the network; or the key is stored in the chip, the hacker has to break the chip. Cold wallets include Ledger Nano abroad; domestic etc. However, it should be noted that the hardware needs to be used in conjunction with networking devices such as computers or mobile phones when transferring money.

    After understanding the concept of cold wallets, hot wallets should be easy to understand. As the name suggests, hot wallet is a wallet that the private key touches network. The common form is mobile APP and computer webpage. The whole process of opening an account, generating private key and transferring money is also required to input the private key. Most people, of course, copy and paste. You can see that once someone hacked into your computer, it is very unsafe, so people who have a large number of tokens need to pay attention to this. Popular hot wallets include , My Ether Wallet, etc.
    In addition to the hot and cold wallet, there is actually a wallet called a managed wallet. Simply put, the electronic wallet helps you keep the private key. The user only needs the account name and password. When the money is transferred, the wallet will retrieve the private key for signature. The advantage is that it is easy to operate, much like the logic of the exchange wallet. These types include

    Hot and cold wallets are not in conflict, they may even be complementary. If you use the current banking system, the hot wallet is a cyber bank and the cold wallet is a USB key.

    Understanding of the decentralized wallet: the private key is owned by the user and the assets are stored on the The decentralized wallet is usually called the wallet. The private key is transferred to the user. If the private key is lost, the wallet will not be able to help the user to recover, and the funds will be lost forever. However, decentralized wallets are hardly subject to concentrated hacker attacks, users also do not have to worry about the inside job of the wallet service provider.

    The centralized wallet is easy to understand. The managed wallet mentioned above is a centralized wallet, where users only need to remember their user name and password. This type of wallet is more convenient to use but there is a lack of security.

    How do wallets make money?

    Wallet financing seems to be the function of many wallets at present. Wallet financing is related to launching . The corresponding assets of the wallet users are the assets that are not ready for circulation in the short term. For example, has access to the product provided by the quantitative fund enterprise ; The has access to and lending and financing platform .

    This business is logical, but the bottleneck of the expansion is that the financial market is not perfect, the capacity of quantitative fund strategy is limited, and wallet, as a financial superman in the coin circle, has his own unique way of making money, wallet adopts a new model to protect the income of financial investors and the long-term stable development of the entire wallet system.
    The biggest difference between Wallet and other wallets is the difference between decentralization and centralization, the difference between matching transactions and digital matching transactions. Wallet has advanced technology that surpasses the global mainstream wallet and introduces the top technology innovation of Silicon Valley in the United States to develop multi-person cooperative management function, which greatly reduces the safety factor of user’s token asset risk and creates the world’s first truly .

    Based on the security of user assets, Wallet creates a data framework for deep storage and management of users’ keys, as well as a higher level of security to fully protect the habitat of private keys and builds a global open online payment system. I think Wallet is a wallet app that opens the world of token and physics. It has a unique cross-chain and cross-contract technology combined with its own high-performance public to provide a strong infrastructure for the token. supports a variety of assets, including Bitcoin, and other main stream tokens for unified storage, management and exchange transactions. Users can not only fully control their digital assets, but also greatly reduce the management burden of the token, greatly improve the convenience and liquidity of user assets’ storage.

    What changes will the wallet have in the future?

    In fact, we can see that most of the current wallets have a single function, such as: wallet, the main function is “transfer”, “collection” , and daily deposits.

    With the circulation of encrypted tokens and the daily use of life, the wallet will be multi-functional. In addition to simple storage, there will be more ecosystems. Yes, future wallets will be upgraded to wallets. We can implement more applications on a wallet , and the encrypted token can exercise more value.

    wallet + financial management, wallet + exchange, wallet + mall, wallet + entertainment, wallet +… will form a new trend to meet the needs of more users this year. And the wallet with this technological innovation and with the manpower and material resources that landed on the ground, so far, there’s only Wallet.

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