Trush Wallet Guide
Navigating the World of Cryptocurrency Wallets
Welcome to the world of blockchain and cryptocurrency wallets. At the very core of blockchain technology is a fundamental cryptographic construct called a "public-private key pair". This key pair grants you access to blockchain transactions, allowing you to send, receive, and track ownership of cryptocurrencies. Before diving into specifics, let's define what a cryptocurrency wallet is.
Cryptocurrency Wallets Explained
A cryptocurrency wallet is a device, physical medium, program, or a service which stores the public and/or private keys. These keys are used to track ownership, receive or spend cryptocurrencies. In essence, a wallet is a collection of these keys.
There are multiple types of cryptocurrency wallets:
Software Wallets: These wallets are programs that can be installed on devices such as computers or smartphones. Software wallets are further divided three two types:
Desktop wallets, which are installed on a PC or laptop and can be accessed from that single device where they were downloaded.
Mobile wallets, which are apps on your phone. They have the advantage of being used anywhere, including retail stores.
Browser Extension Wallets, like MetaMask, which operate as an extension on your web browser. These wallets integrate seamlessly with web-based applications and allow users to interact with decentralized applications (DApps) directly from their browser.
Hardware Wallets: These are physical devices, similar to a USB drive, specifically designed to secure crypto coins. The main advantage is that they are significantly more secure than software wallets as they store the user's private keys in a protected area of a microcontroller and cannot be transferred out of the device in plaintext.
Paper Wallets: As the name implies, these are printed pieces of paper that hold your private and public keys. The advantage is that they are immune to hacking and hardware failures, but can be easily lost or damaged.
Custodial and Non-Custodial Wallets
Cryptocurrency wallets can also be categorized into custodial wallets and non-custodial wallets.
Custodial Wallets: In custodial wallets, the private keys are controlled by a third party. An example is a wallet with a cryptocurrency exchange. While it offers convenience, there is a level of trust required as users do not have control over their private keys.
Non-Custodial Wallets: On the other hand, non-custodial wallets are controlled by the user, who has full control of their private keys and therefore their funds. This type of wallet is considered more secure as it reduces the risk of a central point of failure.
Keypair - Private and Public Keys
A private key is a sophisticated form of cryptography that allows a user to access their cryptocurrency. It is an integral aspect of cryptocurrencies and without it, your cryptocurrencies would be inaccessible.
A public key, on the other hand, is a cryptographic code that allows users to receive cryptocurrencies into their accounts. The public key is created from the private key through a complicated mathematical algorithm. However, it is near impossible to reverse the process by generating a private key from a public key.
The private key must be kept secret, while the public key can be shared with others to receive funds.
Supported Wallets for the Trush Blockchain
Since Trush is an EVM (Ethereum Virtual Machine) compatible Layer-1 blockchain, it supports a wide variety of wallets that are also compatible with the EVM. This includes:
Browser Extension Wallets: Browser extension wallets like MetaMask, are easy to use and provide direct interaction with DApps in your browser.
Mobile Wallets: Wallets like Trust Wallet and Coinbase Wallet, offer convenient access to your crypto on the go.
Hardware Wallets: For added security, hardware wallets like Ledger and Trezor, can be used to safely store your keys offline.
Remember, the selection of a wallet depends on your needs and the trade-off between convenience and security that you are willing to make. Always make sure that you have safely backed up your keys and that you are using reputable wallets.
In the next chapters, we will dive into each type of wallet and explain how you can set up and use them with the Trush blockchain to receive TRS tokens.
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