Crypto Academy Season 3 Task 6/Homework post for Prof @sapwood / Blockchain Wallet-- Types, Uses, Installation, etc.

Introduction

I am Taiwo Micheal and my username is @msquaretk. I considered it a great privilege to be writing my task 6 of fixed course in the beginners' class. The first five courses were wonderful and knowledge loaded. The last course in this category is "Blockchain Wallet-- Types, Uses, Installation, etc." and it was taken by our amiable prof @sapwood. He has really explained the topic in a very clear manner. Thank you prof. Three questions were posted in the homework section, I will be answering question 1 in this post. Follow me closely, as I take you on a tour.

Question 1

How do you store/secure your keys? are the different forms of Private Key(Examples/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 & hide/blur the sensitive information.

How Do You Store or Secure Your Keys?

Private keys, just as your password to your mobile account should be kept safe. This will help you to have control over your digital assets. The best way to store your keys is to store them offline. It is not a good thing to store keys in a cloud, email or any online form of storing things. It is vulnerable to attack when you store your keys this way.

Storing keys offline makes it difficult for hackers to get your information or get access to your wallet. Additionally, it is not offline storage that makes it safe but the strategy you employed in storing it. It is recommended that you keep it somewhere safe. Write your keys in a piece of paper and safe it. For additional security, you may divide the keys in three part and write it in a separate piece of paper and then store it. It should also be noted that in case of JSON File, the key that is password based, you must keep both the password and the file safe.

What are the different forms of Private Key(Examples/Screenshot)?

Blockchain employed different types of private key to safeguard the crypto user fund in their wallets. These private keys are highlighted and explained below;

1. Private key
2. Mnemonic Key
3. Keystore file

Private Key

Private key is a key that is generated at the creation of blockchain wallet. It consist of letters and numbers, what is known as Alphanumeric character. It is a non readable key that helps crypto investors to have full control of their assets in their wallet. Additionally, when transaction is initiated, before it goes to the pool for verification, private key is used to sign the transaction. Another importance of private key is the encryption process. Encryption is the cryptographic process of turning a readable message or transaction into a non readable format.
Below is an example of private key.

_{Example of Private Key}Image source

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Mnemonic Key

Mnemonic key is another form of private key used in blockchain network. It is also helps crypto investor to secure their fund. Unlike private key which is a non readable format, mnemonic key is a key that is readable and can be understood. It usually consist of phrase. Hence, it is often called mnemonic phrase or seed. It is used to generate wallet and can be used to restore wallet. Let's see an example of this key below.

_{Example of Mnemonic Key}Image source

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Keystore File

Keystore file is also called JSON file. It is the last form of private key used in blockchain. Unlike private key and mnemonic key described above, JSON file is can not stand alone unless with the help of user password. In essence, the file and the user password makes it key. So, user need to keep the file and always remember the password used. Below is a sample of keystore file.

_{Example of Keystore File}Image source

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Download & Install TronLink Wallet(Android/iOS/Extension)? How do you store the key(Hint- write it down on a notepad, demonstrate it with examples)?

• To download Tronlink wallet, go to https://www.tronlink.org/
• when you click this link, you will be directed to TronLink home page as displayed below

_{TronLink Home Page}Image source

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• From the above picture, click Android as indicated by a red arrow.
• Then a drop down will appear. From the drop down click Google play

_{TronLink Home Page Showing Google Play}Image source

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• Then you will be taken to google playstore where you will be able to download the Tronlink app.
• From the google play store, click install

_{TronLink on Google Play}

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• Then allow the application to install and then click open as displayed below

_{Opening TronLink App}

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• Then the TronLink App will appear before you.
• Click create wallet as indicated by a red box in the left picture below.
• Then the next page is user agreement page. Read and Scroll down to click accept

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• Then another page will appear. This page is where you will set wallet name.
• Write a name you wish to put and click next step

_{Setting a Name on Tronlink App}

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• Then next page is where to setup password. Please follow the guideline
• Put a password you can easily remember and click **next step
• The next page is password confirmation page, enter password again an then click confirm

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• Then back up page will appear for you. Sorry the app didn't allow me take screenshot. I had to use someone's phone to snap it.
• Then click back up now from the left picture below.
• When you do this, Mnemonic phrase will then appear.
• Copy this mnemonic key or phrase in a piece of paper and keep it safe. It is very important that you store it securely.
• Then, after you have copied it, click I have saved it securely as indicated by a red box in the second screenshot below.

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• After this, you will be given series of question to solve based on the mnemonic you have saved. Kindly fill it and click carry out.
• When you click this, then Tronlink wallet home page will appear before you as displayed in the second screenshot below.
• Then you have successfully installed Tronlink wallet.

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How I store my Key

I simply wrote down the mnemonic phrase inside a piece of paper and store it in a secured place. The image below shows how I stored my Mnemonic key during registration.

_{My Mnemonic Key on a Piece of Paper}

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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.

Mnemonics key is a key that is readable, as such, it is easy to understand. Therefore, I am cool with Mnemonic key or phrase. Below is the mnemonic key I backed up during registration. I intentionally blocked some phrase because this key is personal to me. It should not be made public.

_{TronLink App Mnemonic Phrase Page}

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Conclusion

Prof @sapwood has introduced us to great topic in crypto world. From this lecture, I was able to get the understanding of different types of wallet in blockchain, their uses and more importantly the installation of Tronlink Wallet which was practically demonstrated above.