Blockchain Wallet(Types, Uses, Installation) - Steemit Crypto Academy Season 5 - Homework Post for Task 9.

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Task 9

QUESTION 1:


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  • HOW DO YOU STORE/SECURE YOUR KEYS?
    WHAT ARE THE DIFFERENT FORMS OF PRIVATE KEY(EXAMPLE/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 AND HIDE/BLUR THE SENSITIVE INFORMATION.

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HOW DO YOU STORE/SECURE YOUR KEYS?


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Keys are code encryption used to assess your crypto assets. These keys are meant to be kept secret as it serves a means of security to crypto assets. As I don't trust myself so much because I have lost my steemit keys which I have to open a new steemit account, I have saved my keys to my desktop and backed up to my Google drive . They are many ways to save your keys. Which some of them are :

Hardcopy storage:

You can store your private or mnemonic keys in a MS file or pfds which is quite different from digital Offline storage:storage eg. floppy disc storage.

Hardware storage:

It's capable of holding your private or mnemonic key either temporarily or permanently. It's a very good means for storage of private or mnemonic keys.

Offline storage:

This is type of storage which must plugged in to the computer in order to gain access to the information on the storage medium, in this case , a private or mnemonic key. The user can keep store his or her mnemonic key in a pdf document and encrypting in his USB drive.

Online storage:

Private/ mnemonic keys can be stored in the internet in order to keep it safe.

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DOWNLOAD & INSTALL TRON-LINK WALLET(ANDROID, IOS, EXTENSION)


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To download the Tron-link wallet you have to go to google play store and install it. The image below shows the app is already downloaded, then you click open.

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HOW DO YOU STORE THE KEY (HINT- WRITE IT DOWN ON A NOTE PAD, DEMONSTRATE IT WITH EXAMPLES)?


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After I downloaded the app, I proceed to account creation which I was told to copy the mnemonic keys and advised not screenshot or share the information with anybody but my self.

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The image above shows the mnemonic key which I was given instructions to write down the letters accordingly to login into my wallet.

After inputting my private key, my wallet is now secured for my assets, I have to save my private key in a WPS file offline and in the cloud online.

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I set up a fingerprint sensor security lock which gives only me access to my WPS file.

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The images shown above in this very question part otherwise asserted are screenshots from “Trust wallet app & “WPS” respectively.

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The different forms of private Key which we can used to access crypto assets.


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Private Key:

Private Key are set of alphanumeric character, that is created by using cryptographic function whenever you open a Blockchain wallet.

An example of private Key

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It's very vital to keep the keys safe because it has the ability to move your assets from one wallet to the other.

Mnemonic key:

Also known as seed key which can also perform the function of a private key, they use BIP-32, BIP-39 specifications and very easy to handle. Their mnemonic phase are about 12, 15, 18, 21, 24 words long. It can be used to restore a wallet and also restore passwords. It's very advisable it to pay attention to the mnemonic phrase when you store it.

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Source

These mnemonic phases should be kept safe and shouldn't be shared with anyone because this combinations have the power to access your wallet.


Keystore File:

This is similar to to private key or mnemonic key but differs from private or mnemonic key In a way that password is required to restore your wallet with a keystore file.

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Source

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


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I prefer mnemonic key because it very easy to store and very accessible . The mnemonic phrase are memorable and presentable, I wrote it down for storage because of I don't trust the human brain.

Here's my mnemonic key I stored in my notebook.

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I intend to keep it safe.

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Conclusion

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I have learnt through this course how to secure and store my keys, also I have expanded my knowledge on the different forms of private keys which I prefer mnemonic key because it's very easy accessible.

Lastly I want to say a very big thanks to @sapwood for this very educative assignment which I learnt alot private keys.

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