Good day my fellows, I trust your days are going smoothly .
I have been following the lecture of Professor @sapwood from the very first week of the crypto academy, and I have also been doing all his homework task.
This week homework is base on:
Have you ever used a hardware/software wallet?
Which one is having a better security advantage?
What are the important points to consider when you deal with an Exchange (centralized) Wallet and a Decentralized Wallet. How do you secure/restore both types?
Give an example of a Web 3.0 wallet and what are the distinct uses of a web 3.0 wallet? Have you ever used any Web 3.0 crypto wallet? Examples?
Have you ever used a hardware/software wallet? Which one is having a better security advantage?
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Yeah, I have only used both hardware wallet and software wallet.
A hardware wallet is a wallet that looks like a hard drive, It is the strongest and the most safest place to store your crypto assets. They are usually offline, so it can only accessed when inserted through the USB port of another internet or non internet enabled device
Example. Ledger, Nano X, Trezor and so on
Software wallet is an online wallet that works through the phone installation it can be on smartphone or computer device installation. They are system based type of wallet whose keys can also be stored safely against third party theft.
Example. Exodus wallet, Coinbase wallet and so on
Which one is having a better security advantage?
nanox.webpImage source
The hardware wallet is the most secured wallet, I have for once make use a Ledger wallet (hardware wallet), the hardware wallet stores the crypto assets offline, and this is very difficult for hackers to penetrate.
What are the important points to consider when you deal with an Exchange (centralized) Wallet and a Decentralized Wallet.
The Exchange (centralized) wallet is a kind of wallet where users can create an account using their email, users can store their crypto assets and it also allow users to buy, sell and transfer their assets with ease. This type of wallet is used by exchanges like Binance, Houbi and so on.
Decentralized wallet is a crypto wallet where user can store their assets, this kind of wallet allow users to backup their private keys offline , it is best for storing crypto and not trading.
Give an example of a Web 3.0 wallet and what are the distinct uses of a web 3.0 wallet? Have you ever used any Web 3.0 crypto wallet? Examples?
A web 3.0 wallet is a type of wallet that possess a web browser extension on which I can easily interact with other DApp.
Have you ever used any Web 3.0 crypto wallet? Examples?
Yeah!
Am using Tronlink wallet, it gives me access to interact with DApp like JustSwap,JustLend. I can also stake my crypto assets to earn free Tokens.
Below is the screenshot of my Tronwallet.
Conclusion
I have been following professor @sapwood and I have learnt a lot from his class. And I also want to thank @steemiblog for this wonder innovation.
To the attention of Professor @sapwood this is my homework for week 3.
Special regards
Cc: @steemcurator01
Cc: @steemcurator02
Cc: @sapwood
Thank you for attending the lecture in Steemit-Crypto-Academy & doing the homework task-3.
Unfortuantely, it contains plagiarized content.
We would encourage you to publish original content, purely based on your own experience with a wallet/dApp(or as the task demands). Any act pf spam/plagiarism diminishes the very idea of Proof-of-Brain, hence disregadred/discouraged by the community.
If you need any further help/clarification related to the task, please feel free to ask.
Thank you.
Homework Task -3
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