【NeoLine Talk 】With these in mind, you can fully understand the blockchain wallet
In the blockchain, the most commonly used in addition to trading on the exchange is the wallet. Because we all know that the exchange is centralized, once closed, our assets inside will disappear; but the blockchain is decentralized, and the assets are stored on the chain, so smart friends will choose A wallet to store digital assets that are temporarily not traded.
There are also various blockchain wallets on the market. How to choose a reliable wallet so that your digital assets can achieve true safe storage? Let’s take inventory together!
What is a blockchain wallet?
We all understand that wallets are used to hold money. Now a mobile phone can also eat the world’s food, people will use electronic payment to check out.
With electronic payment, the wallet has changed from a traditional physical object to a software application, and our assets have become a string of consuming numbers.
A simple understanding of a blockchain wallet is a tool for managing the keys and addresses of blockchain nodes. Because of the decentralized nature of blockchain technology, wallets that store digital currencies will have different types according to different characteristics.
There are many types of blockchain wallets, let’s take a look at the common classifications of blockchain wallets.
According to whether the blockchain wallet is networked, it can be divided into cold wallet and hot wallet.
Cold wallet: also known as an offline wallet. It usually appears in the form of electronic hardware to save the user’s wallet private key and isolate it from the network.
Under normal circumstances, the blockchain cold wallet does not actively connect to the network, and only needs to be manually connected when necessary, or through other devices. At present, the common cold wallet forms are paper, USB flash disk, small hard disk, smartwatch, and other intelligent storage hardware.
Hot wallet: also known as an online wallet. It usually comes in the form of an app or web platform. Hot wallets are not self-made like cold wallets, and are generally developed by third parties or service providers.
Users must access the hot wallet through the network. In most cases, the private key of the hot wallet is in the hands of a third party or service provider and is not kept by the user. NeoLine wallet is a hot wallet.
According to whether the node data is stored completely, it can be divided into full node wallet and light node wallet.
Full node wallet: Full node wallet, as the name suggests, is to synchronize all node data on the blockchain. It can participate in the data maintenance of the network, which has more secrets and faster verification.
Because the full-node wallet synchronizes all data on the blockchain, it requires a large amount of memory, and users need some time to synchronize the data before each use. Therefore, for novices, the experience of using a full-node wallet will be complicated and cumbersome.
Light node wallet: Because full node wallets are more complicated to use, light node wallets were conceived. A light node wallet is simply understood as a node wallet that incompletely stores blockchain transaction data, referred to as a light wallet. Because its data is incomplete, it cannot fully fulfill the function of a full node.
n our daily use, cryptocurrency light wallets are the mainstream. Its user experience is even better, especially for novice friends. It is more convenient, small in size, does not occupy space, and can easily support a variety of digital assets.
For example, imToken and NeoLine are light node wallets.
According to whether the user holds the private key, it can be divided into centralized wallet and decentralized wallet
Centralized wallet: The user does not hold the wallet private key, and the private key is kept by a third party or service provider.
Decentralized wallet: The user holds the wallet private key by himself, and the third party or service provider does not know and does not hold the user private key at the same time.
PS: For knowledge of private keys, please check our previous content.
According to the existence of the wallet, it can be divided into soft wallet and hard wallet
Soft wallet: Popularly speaking, it is a wallet computer software or App. Users only need to install the wallet software client on the computer or install the wallet App on the mobile phone to use all the functions of the blockchain wallet. It does not require users to purchase additional specialized hardware equipment. For example, NeoLine is a soft wallet.
Hard wallet: Also called hardware wallet, it usually comes in the form of cold wallet, and there are also hot and cold matching hardware wallet brands. Users need to purchase additional dedicated peripheral hardware to cooperate.
According to whether it supports multiple currencies, it can be divided into single and multi-currency wallets, and full-currency wallets
Single currency wallet: a blockchain wallet that serves only a single blockchain digital asset. Wallets that usually only support a single blockchain main chain platform are also called main chain wallets.
Multi-currency wallet: Support multiple blockchain digital assets in one wallet. Multiple blockchain digital assets can be a blockchain main chain and tokens set around the main chain protocol, or they can be different digital assets on multiple blockchain main chains.
Full-currency wallet: a blockchain wallet that supports all types of blockchain main chain digital assets and token assets. As the types of digital assets continue to increase, all-currency wallets are currently only envisaged. In the future, after the blockchain technical specifications and the circulation of digital assets become more convenient, the full currency wallet may be realized.
It can be seen that the blockchain wallets in the current market no longer have a single storage function; but because the competition in the market has begun to bloom.
The blockchain wallet has become a multi-functional ecological wallet.
This article Source: 简书
Author: 区块链ZHI梦初醒
