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1. Main functions of blockchain wallet

Usually a wallet will include the following functions: Supports the creation of wallet accounts by generating mnemonic words, Keystore files, and private keys. Supports exporting wallet account mnemonics, private keys, and Keystore files. Supports multiple wallet account management, account balance inquiry and transfer functions (QR code scanning support). Supports ERC20 tokens (balance display, transfer, token price display) and supports real-time display of currency prices in fiat currencies (USD and RMB). The historical transaction list displays the created account. The presentation form of the blockchain wallet is divided into address and account number, which we collectively refer to as the account number here. Accounts in different blockchains are different, and the degrees may also be different. The creation costs of different blockchain accounts are also different. For example, Ethereum and Bitcoin accounts are free, but EOS accounts require a certain fee to create. Since the creation of a blockchain account is a complex process, the existence of the wallet is to help users simplify these processes. Generally, during the process of creating an account, the wallet will guide the user to back up the private key or mnemonic phrase, and then conduct secondary verification to ensure that the user's backed up private key or mnemonic phrase is accurate. On blockchains that require payment to create an account, wallets will generally help users complete the payment process using traditional payment tools to reduce user difficulty. Digital asset management Digital assets mainly refer to various tokens on the blockchain. The existence of the wallet greatly facilitates users to manage the assets they own, including transfers, collections, viewing asset details, Transaction details, etc. The function is similar to that of a bank APP. You can see what assets you currently own, how much they are, and perform operations such as transferring your assets. It should be noted that assets between different blockchains cannot be transferred directly, that is, you cannot transfer BTC (Bitcoin) to an Ethereum account, nor can you transfer ETH (Ethereum) to a Bitcoin account. Digital Asset Transactions The digital asset transactions currently supported by the wallet mainly include the following three situations: currency-to-currency exchange, exchange transactions, and OTC transactions. Coin-to-coin exchange Through currency-to-coin exchange, assets on different blockchains can be exchanged. For example, you can directly exchange the BTC (Bitcoin) you own into EOS. General transactions can only be carried out in the form of a basic pair, and then the basic pair can be traded into the final destination currency. For example, if I want to change from A to C, I need to go through intermediary B, A -> B, B -> C; and currency exchange simplifies this process, directly converting A into C to participate in ecological construction. Currently, some public chain designs , all encourage users in the ecosystem to actively participate in the construction of the public chain ecosystem. The main forms include node voting, referendum, staking, etc. Node voting takes EOS as an example. EOS has a total of 21 super nodes. Users can vote for up to 30 nodes by staking their EOS. The purpose of voting is to allow users to choose those who can contribute to the development of the ecosystem. node, fromAnd promote the stable development of ecology. Referendum referendum refers to the blockchain ecosystem where participants can initiate proposals that they think are beneficial to the community, and the entire blockchain currency holders will vote. When the number of votes exceeds a certain standard, the proposal will automatically take effect. The referendum method is conducive to community users actively participating in blockchain governance. StakingStaking is the Chinese name for equity pledging. Currently, some public chains adopt the form of Staking to encourage currency holders to pledge Tokens and thereby generate stable nodes. For example, COSMOS staking can enable the pledger to obtain a certain annualized income (settled in pledge currency), similar to investing in a current financial management product in a bank. Experience Dapp application DApp is the abbreviation of Decentralized Application, translated as decentralized application, which refers to application development with blockchain as the underlying layer. Currently, DApps are mainly concentrated on Ethereum and blockchains such as EOS, TRON, and IOST. The relationship between DApp and the underlying platform is like the relationship between APP and iOS and Android systems. For example, EOS DApp cannot run on the underlying ETH, just as Android APP cannot run on the iOS system. You can experience the decentralized finance MakerDAO on ETH in your wallet, experience starting a competition in EOSRacing and win EOS rewards, or you can mine and manage money in the Liebi mining pool on IOST. At present, some large-scale games exist in the form of third-party independent APPs. When experiencing DApps in the form of these APPs, you also need a wallet as a medium for login and transaction authorization. Asset appreciation wallets naturally have financial attributes. The current wallet has integrated a variety of financial tools and functions including mining pools, financial management, mining, project investment, etc., which can meet the needs of users for asset appreciation. Mining pool: Currently there are two main methods of mining: POW mining and POS mining. POW (Proof of Work) is computing power mining, which we are familiar with such as BTC (Bitcoin) and ETH (Ethereum) mining; POS (Proof of Stake) mining is imitating POW computing power mining, and currency holders can Mortgage tokens to validator nodes to receive reward dividends. At present, the mining pool of the wallet is basically based on POS mining. Some wallets also support the purchase of cloud computing power for BTC (Bitcoin) mining. Financial management: The financial management products in the wallet are very similar to traditional financial products. The only difference is the settlement method. An estimated rate of return is usually agreed upon. After the user purchases the financial product with Token, it will be settled regularly according to the agreed settlement date, and can be withdrawn or renewed upon expiration. Mining: Mining is mainly based on DApp mining. The wallet integrates some DApp mining machine products. Using the mining machine can quickly and easily obtain the tokens you want to mine. Take the recently popular EIDOS as an example. EIDOS mining machines can help users realize automatic transfer mining. These mined Tokens can be sold on exchanges to obtain profits. Investment:Take HOO Labs of Hufu Wallet as an example. You can use USDT to support projects and obtain the project's tokens in a certain proportion based on the amount of USDT supported.

2. What is the role of a blockchain wallet?

Cold wallet refers to the Bitcoin storage technology developed by an information technology company that provides secure storage solutions for blockchain digital assets. The cold wallet integrates functions such as digital currency storage, multiple transaction password settings, publishing the latest market conditions and information, and providing hard fork solutions. It also uses QR code communication to prevent private keys from being exposed to the Internet, which can effectively prevent hackers from stealing.

3. The importance of blockchain wallets

Now more and more people are beginning to participate in blockchain projects, and those who understand and participate in them believe that they will use the blockchain wallet. Blockchain wallet, the "wallet" here refers to a virtual tool used to store and use virtual currency.

Wallets are mainly divided into cold wallets and hot wallets, which include private keys, public keys and auxiliary words. Next, I will explain their differences and functions in detail.

Cold wallet: A cold wallet refers to a wallet that is not connected to the Internet and stores digital currency offline. Users generate digital currency addresses and private keys on an offline wallet and then save them. The cold wallet integrates functions such as digital currency storage, multiple transaction password settings, publishing the latest market conditions and information, and providing hard fork solutions, which can effectively prevent hackers from stealing.

Hot wallet: Hot wallet refers to a wallet that needs to be connected to the Internet. It is more convenient to use, but now the network is more complex, there are many phishing websites, and there are risks, so it is difficult to use a wallet or exchange. It is best to set different passwords and enable secondary authentication to ensure the security of your assets.

In summary, cold wallets are more secure than hot wallets.

Private key: The private key is a string of data generated by a random algorithm. It can calculate the public key through an asymmetric encryption algorithm, and the public key can then calculate the currency address. The private key is very important, as the password is hidden from all but the owner of the address. Blockchain assets are actually on the blockchain. The owner actually only owns the private key, and has absolute control over the blockchain assets through the private key. Therefore, the core issue of blockchain asset security lies in the storage of the private key. The owner must keep it safe. Compared with the traditional form of username and password, the biggest advantage of using public key and private key transactions is to improve the security and integrity of data transmission. Because of the corresponding relationship between the two, users basically do not have to worry about the data transmission process. The possibility of being intercepted or modified by hackers. At the same time, because the private key encryption must be decrypted by the public key it generates, the sender does not have to worry about the data being forged by others.

Public key: The public key appears in pairs with the private key, andThe private keys together form a key pair, which is stored in the wallet. The public key is generated from the private key, but the private key cannot be derived from the public key. The public key can obtain the wallet address through a series of algorithm operations, so it can be used as a certificate of ownership of this wallet address.

Mnemonic phrase: The mnemonic phrase uses a fixed algorithm to convert the private key into more than ten common English words. The mnemonic phrase and the private key are interoperable and can be converted into each other. It is just a friendly format for the private key of the blockchain digital wallet.

Keystore: Mainly common in the Ethereum wallet App (Bitcoin is similar to the Ethereum Keystore mechanism: BIP38). It is obtained by re-encrypting the private key through the wallet password, and the mnemonic phrase Different, generally it can be saved as text or JSON format. In other words, Keystore needs to be decrypted with the wallet password before it is equivalent to the private key. Therefore, Keystore needs to be used with the wallet password to import the wallet. When a hacker steals the Keystore, without a password, it is possible to unlock the Keystore by brute force cracking the Keystore password. Therefore, it is recommended that users set a slightly more complicated password, such as adding special characters, at least 8 characters, and make it safe. storage.

In summary: The function of the wallet is to protect our private key. The private key is the full authority to control the assets. Only those who have the private key can use the virtual currency in this account. When using the wallet, remember not to disclose your wallet's private key, mnemonic phrase, Keystore and other information to others. This information is important information that can directly steal your digital assets.

Things to note when using the wallet:

1. Make a backup copy of the private key and mnemonic phrase. It is best to write a handwritten copy on your mobile phone and save it.

2. Do not click on unknown websites easily.

3. Do not take screenshots or take photos to save.

In short, the most important thing is to keep your private key.

4. What are the best blockchain wallets in China?

I used to use imtoken because it was released earlier. Cobo, bitkeep and ETbank have all used it, but I feel that the interest rate of ETbank is high.

5. How much does it cost to develop a blockchain wallet?

The first thing you need to understand is that in the Internet software industry, there is no 100% fixed price, because different technologies have different prices. The function prices are also different, and the underlying architecture of the user budget of 10,000 and the user budget of 100,000 is different, so if you find a fixed price, you must consider whether it is "volume sale".

The second thing isLooking at the functions that need to be implemented, first determine the currency. Furthermore, for example, some wallets, in addition to the storage and transfer function, also have trading sections (currency? OTC? C2C? Contract?), holding currency to earn interest (how to hold it?), Socializing (chatting alone? Or?)..., this is just part of it, there are so many things that need to be determined. These are not clear, and being casual in the early stage means more troubles in the later stage.

Furthermore, we need to discuss the effect we want to achieve, that is, whether there is a certain user base, how many users we estimate it can achieve, and what technology we want to use to achieve it? These all need to be determined, otherwise the system will not be able to support the bottom layer of the system if it is only 100,000 yuan but reaches 200,000 yuan.

There are also ports that need to be implemented, such as PC, native, H5, client, etc. In the software industry, these all need to be accurately determined without exception. Unlike physical items, such as coffee, there are also There are many types, but we would say something like XX coffee is enough. The blockchain industry cannot be like this

To sum up, it is still difficult to understand the price of developing a blockchain wallet because, Only when the detailed or general details are determined can you make a detailed or preliminary bid. Therefore, if you want to know the specific price, you need to understand it based on your specific needs.

6. What is the function of a blockchain wallet? Can anyone explain it clearly?

The essence of a blockchain wallet is a private key. It is a random hash value string. Having the private key gives you the right to use the wallet. According to the private key storage method, it can be divided into: cold wallet and hot wallet
A cold wallet refers to a wallet where the network cannot access your private key. Generally, a notebook is used to record it, although it avoids the risk of the private key being stolen by hackers. , but it may also be lost.
A hot wallet refers to a wallet that has access to your private key via the Internet. Hot wallets are often in the form of online wallets, which are not easy to lose, but are also risky.

7. What can a blockchain wallet do?

Blockchain wallet serves as a basic token management platform and even a user identity management tool. For example, when a user wants to play a CryptoKitties game, he or she can open the wallet, enter the DApp, select it and use it, or download the DApp application locally through the wallet and use it directly.
With the increase in the types of tokens and the improvement of the entire blockchain ecosystem, when wallets are no longer simply a tool for storing tokens, sending tokens, and participating in crowdfunding, they will also work with exchanges and crowdfunding projects. Focusing on transactions, gradually turning to tokens to realize their own application purposes.

1. The wallet serves as the entrance value for payment

The payment method is the same as the existing mobile payment, and the payment can be completed by scanning the QR code to confirm. With the maturity of off-chain payments such as Lightning Network and Raiden Network, or technologies such as sharding and sub-chains, once digital token payment becomes one of the mainstream payment methods in the future, wallets such as Cobo will serve as entrances.A lot of room for imagination.

2. The value of wallet as an asset management platform

Now there is an opportunity for user-side wallets to rise. First, there are tens of millions of users, all of whom are valuable users. Second, with the development of the entire ecosystem, derivatives have also begun to develop and there is demand. For example, when users have some tokens, some of them are long-term value investors. For example, some users will hold Bitcoin, Ethereum or EOS for a long time. But if they just store them, they will not make the best use of the assets. Somewhat wasteful. At present, there are more and more public chains, more and more protocols and applications, and more and more tokens. Centralized exchanges, decentralized exchanges, quantitative trading, etc. are all developing. There are many financial and asset management solutions here. Chance.
3. The value of wallet as the entry point for transactions

Since wallets have accumulated a lot of users’ digital assets, when users need to conduct transactions, the more troublesome point is that they need to transfer to the exchange. If compared There is congestion, it takes a long time, and it is easy to delay things. On the exchange, if the trading depth is not enough or the price is not suitable, it is often difficult to complete the transaction. If it is a large-scale transaction request, instant shipment or purchase will affect price fluctuations. If the wallet is combined with some decentralized or centralized exchanges, such as users inputting their ideal prices, transactions can be matched as quickly as possible. For users, fast transactions can be achieved in the wallet, which is also a good demand scenario.
4. The value of wallet as an entrance to the DApp market

For wallets, the DApp market entrance is definitely the most imaginative prospect. With the maturity of public chains, especially the gradual improvement of blockchain infrastructure such as EOS and Ethereum, some game, financial, social, and pan-entertainment DApp applications have gradually developed.

The Xueshuo Innovation Blockchain Technology Workstation under Lianqiao Education Online is the only “blockchain technology workstation” approved by the “Smart Learning Workshop 2020- Xueshuo Innovation Workstation” carried out by the School Planning and Construction Development Center of the Ministry of Education of China. "Technical Professional" pilot workstation. The professional base is based on providing students with diversified growth paths, promoting the reform of the training model integrating professional degree research, production, and research, and building an applied and compound talent training system.

8. What is a blockchain wallet?

A blockchain wallet is a software that stores various currencies in the blockchain (Bitcoin, Ethereum, etc.)
Password The key and address are the bank card number and password in the blockchain world
The essence of the wallet is to save the key, which is to save the bank card and password
Why do you need the wallet to save the password? Unlike bank card passwords, the password of blockchain coins is a string of 256-digit binary numbers without any meaning.
There are several terms in Ethereum wallets that must be deeply understood, otherwise it may cause the loss of blockchain assets. These terms are address, password, privateKey, mnemonic phrase, keystore. Taking a bank account as an analogy, the corresponding contents of these five words are as follows:
Address=bank card number
Password=bank card password
Private key=bank card number+bank card password
Mnemonic phrase = bank card number + bank card password
Keystore + password = bank card number + bank card password
Keystore ≠ bank card number
What will be the consequences if you forget your wallet information? There are several situations:
(1) If the address is forgotten, you can use the private key, mnemonic phrase, keystore+password, and import it into the wallet to retrieve it.
(2) If you forget your password, you can use your private key, mnemonic phrase, and import it into your wallet to reset your password.
(3) If the password is forgotten and there is no backup of the private key and mnemonic phrase, the password cannot be reset and the token cannot be transferred, which is equivalent to losing control of the wallet.
(4) If the password is forgotten, the keystore will lose its function.
(5) If the private key is forgotten, as long as your wallet has not been deleted and the password has not been forgotten, you can export the private key.
You can use a mnemonic phrase.
(7) If you forget the mnemonic phrase, you can import it into the wallet and back up the mnemonic phrase again through the private key, keystore + password.
(8) Forgot the keystore. As long as your wallet has not been deleted and the password has not been forgotten, you can back up the keystore again.
Mnemonic phrase,
As can be seen from the above, as long as there is information in "private key, mnemonic phrase, Keystore + password", the wallet is there. Therefore, it is most important to back up your "private key, mnemonic phrase, Keystore + password".
The Xueshuo Innovation Blockchain Technology Workstation under Lianqiao Education Online is the only approved "Blockchain Technology Professional" pilot of the "Smart Learning Workshop 2020- Xueshuo Innovation Workstation" launched by the School Planning and Construction Development Center of the Ministry of Education of China. workstation. The professional base is based on providing students with diversified growth paths, promoting the reform of the training model integrating professional degree research, production, and research, and building an applied and compound talent training system.

9. Can the blockchain wallet be logged out?

The blockchain wallet can be logged out.

You need to authenticate the user's identity through the authentication system, and then receive the digital currency wallet cancellation request message with the user's digital signature and send it to the account bank's digital currency system, which verifies the user's digital signature. After confirmation, you can log out of the digital currency wallet.

Then send the deregistration request information with the digital signature of the account bank and the digital signature of the cancellation wallet to the digital currency system of the note-issuing bank. After signing, the digital currency wallet can be deregistered, and then returned to the bank. There is a successful deregistration message signed digitally by the note-issuing bank, and the digital currency system of the account bank receives the successful deregistration.Log out of the digital currency wallet after the message.

How to register a blockchain wallet:

Log in to the website where you want to download the software and download the software. After downloading the software, click In the upper left corner, select the Ethereum wallet and follow the prompts to set it up. Back up the mnemonic phrase as required, so the wallet is set up.

After the setting is completed, a private key will be given. It is recommended to put the private key in multiple mobile hard drives and save it offline. This can ensure that hackers cannot steal your private key and ensure the security of your account.