Author: misamaliraza94
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Hard Wallet
A hard wallet is a physical device that connects to a computer via USB and runs a software application within a Dashboard.. Hard wallets are non-custodial by default – you manage your private keys via a Seed. They provide the best security because most of the time they are offline, so cannot be hacked. If…
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Types of Soft Wallet
Mobile A mobile wallet is the direct crypto equivalent of an App. It allows you to manage your crypto on your smartphone. If you search the Apple Store or Google Play Store you’ll find a huge number listed, differing in their design and features, but the approach to custody is the key distinction (introduced above).…
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Introducing the crypto wallet
A crypto wallet is a device for storing, sending and receiving cryptocurrency. Let’s look at one. You’ll notice the wallet has some familiar features like a balance, currency symbols and the ability to Send/Receive funds via addresses – which we introduced earlier. They are long alphanumeric strings, but for convenience there is usually a copy/paste…
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Crypto
Access Tools The equivalent of your banking App or online account is a crypto wallet, that you can access on your laptop or smartphone. The different varieties are listed below. Access Credentials The credential that proves ownership of crypto funds associated with an address is called a Private Key, which can be stored in a wallet. It is…
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What Crypto Storage Really Means
To understand what cryptocurrency storage really means, let’s look at what you are used to and draw some useful comparisons: Digital banking Access Tools Your banking App/online account are tools to access your money. They don’t actually store any money, but are a representation of the amount of money your bank holds on your behalf. …
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Store & Secure Cryptocurrency
As already described, cryptocurrency is a new type of money, and like any other money, your top priority is keeping it safe. With the money you are familiar with there are a couple of ways of looking after it. Look after it yourself Trust someone else to look after it on your behalf Option 1…
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How to use crypto
Storing & securing your crypto What you’ll learn How to store & secure your crypto What crypto storage really means What a Private key & Seed is Introduction to crypto wallets Cryptocurrency is a new form of internet money which you can spend and exchange like the money you are used to. It is also…
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Future of Smart Contracts
The use of Smart Contracts is almost certainly going to accelerate. They are fundamental to the promise of delivering what is described as web3.0, an internet experience where users control their data and identity and the value they create online. Their creation will become simplified for an increasing range of tasks that involve digital agreement and…
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Disadvantages of Smart Contracts
One of the most significant downsides to the decentralised Smart Contract model is that they will automatically execute whatever logic is coded into them. Given Smart Contract code is developed by humans who are prone to error, this frequently includes unintended vulnerabilities. Code vulnerabilities are made worse by the common practice of copying Smart Contracts…
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Benefits of Smart Contracts
Nick Sazbo, one of crypto’s OGs, summed up the function of Smart Contracts “I call these new contracts “smart”, because they are far more functional than their inanimate paper-based ancestors. No use of artificial intelligence is implied. A smart contract is a set of promises, specified in digital form, including protocols within which the parties…