Steemit Crypto Academy season 5- Blockchain Wallets, Task 09

in hive-108451 •  3 years ago 

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How do you store / protect your keys? What are the different forms of private key (examples / screenshot)? Download and install TronLink Wallet (Android / iOS / Extension)? How is the key saved (Hint: write it down in a notepad, show it with examples)? With what key shape are you comfortable handling your TronLink wallet? Include screenshots and hide / blur sensitive information.

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How do you store / protect your keys?

When utilizing a wallet, we must also utilize your keys or passwords in order to progress the money which we have in it. However, each moment we use our keys, we expose ourselves to a variety of threats, which is why knowing how to protect our keys is critical.

  • Physical storage:

Physical storage, in my opinion, is the safest option to protect our private keys. It is sufficient to write our keys/private keys on paper and store this document in a secure location. For added protection, we can put our keys without a title or link, so that even if this paper came into the wrong hands, no one would understand what all these keys or private keys belonged to.

  • Cold storage:

Another recommended practice is to keep a copy of our keys on a pendrive or other device that is not permanently linked to the internet or the computer. As a result, we are less likely to be victims of internet attacks or hacking. We can also put a key on the device and, in turn, put a key on the file where we keep our keys, so increasing the level of security.

  • Cloud storage:

But there is a risk of fraud or hacking with cloud storage, there is no doubt that it is the greatest option for protecting our keys in the event of a disaster, if we lose all of our keys physically, or if the device where we keep our keys is damaged. All we have to do now is make sure that the file where we put our keys has its own security key, and then set up a cloud-based double factor protection scheme.

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What are the different forms of private key (examples / screenshot)?

  • private key.

Almost every wallet provides us with this form of password so that we may manage our money. These keys are typically very long, ranging from 20 to 30 characters, and include both capital and lower case. This form of key is similar to the password we use to pay with our bank card; with it, we may send and receive money. The main difference is that bank passwords are usually only 6 to 8 characters long and easy to remember. Learning our private key by heart is not impossible, but owing to the large amount of characters in these keys, it is quite tough for anyone.

| 5HfeGHU8rMjxAXiPlD5BDru4MkesDZyR7bjTVqvpTYg3Tj

  • Mnemonic phrase.

This is a different form of private key that is mostly used to recover our wallet if it is lost. It also allows us to restore our wallet or open it on a different device. As we can see, this form of key is the only way we have to prove that a wallet truly belongs to us; as a result, it must be secured and kept confidential. These keys are made up of a series of words that range in length from 12 to 24 words. These words must be remembered in the precise order, therefore we must remember not only the 12 words, but also the exact order in which each word in the list appeared.

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  • Keystore file.

When we make a backup of our keys on our device, the keystore file is created. This backup is saved as a file on our computer and is utilized to recover our wallet.

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How is the key saved (Hint: write it down in a notepad, show it with examples)?

Without the need for a doubt, the first step in saving our password is to write it down manually in a notebook. From there, you can take additional steps like saving a copy on a pendrive or other offline device, which is then protected by a password.

#academys5-intro09 #cryptoacademy #club5050 #steemexclusive

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