Blockchain technology: What is the blockchain wallet system?

Blockchain, shared database, and decentralization are one of its outstanding features, that is, blockchain technology does not rely on additional third-party management agencies or hardware equipment, and there is no central control. Through distributed accounting and storage, each node completes information self-verification, transmission and management. Blockchain payment systems for digital asset payments, account transfers, cash withdrawals, etc. have a wide range of connotations, such as blockchain exchanges, blockchain public chains, blockchain wallet systems, blockchain malls, etc.

Blockchain technology: What is the blockchain wallet system?
Blockchain wallet system

In addition to centralization, blockchain also has the following characteristics:

1. Openness: The technical foundation of blockchain is open source. In addition to the encryption of private information of both parties, the blockchain data is open to everyone. Anyone can query the blockchain data through the open interface and develop related applications, so the information of the entire system is highly transparent;

2. Independence: Based on consensus standards and protocols (various mathematical algorithms, such as the hash algorithm selected by Bitcoin). The entire blockchain system does not rely on other third parties, and all nodes can automatically and securely verify and exchange data within the system without any human intervention;

3. Security: As long as you cannot control 51% of all data nodes, you cannot arbitrarily manipulate and modify network data. This makes the blockchain itself relatively safe and avoids subjective and artificial data changes;

4. Anonymous: Unless required by laws and regulations, technically speaking, the identity information of each block node does not need to be disclosed or verified, and information transfer can be carried out anonymously.

If there is a centralized wallet system, there must be a decentralized wallet system. What’s the difference between the two?

In a decentralized wallet system, users hold their own wallet private keys, and third parties or service providers do not know or hold the user’s private keys, that is, the encrypted wallet of the blockchain. Funds are stored in the blockchain, so the security of property is relatively high;

In a centralized wallet system, users do not hold the wallet private key, which is kept by a third party or service provider. When the centralized wallet is hacked, users will suffer unnecessary losses.

Blockchain wallet system, decentralized wallet system APP production, digital asset management, support for multi-currency development, safe fund management, flexible circulation; customized warehouse locks, pledge mining, crowdfunding and other asset management services; professional security system, user With its own private key, the operation is safe and reliable; multi-layer security verification measures ensure the safety of user assets; reasonable address management plans make asset transfers safer and more convenient.

The system consists of address, private key, public key, mnemonic and password.

1. Address, equivalent to a bank card account number, appears as a string of characters and is mainly used for transfers;

2. The private key is a random number generated by the system through a cryptographic algorithm based on random factors in the user environment; in blockchain transactions, the private key is used to generate the signature required to pay coins to prove the ownership of resources.

3. The public key, generated from the private key, can calculate the address and is mainly used to generate the address;

4. Mnemonic, consisting of English words, is mainly used to help users remember complex private keys (64-bit hash values); just fill in the order;

5. Password. When creating a wallet, you need to set a password. If the password is set by the user, it must first have a double protection effect;

Blockchain wallet APP system functions:

1. Support docking with mainstream exchanges and grasp the real-time price trends of various cryptocurrencies in real time;

2. Seven major security strategies to ensure the security of digital property in all aspects;

3. Multi-verification, multi-signature technical support, and two authorization verifications;

4. Offline signature, users hold their own private keys and pay attention to privacy, which is more secure;

5. Quick arrival, massive address processing, and RMB transfers are safer and faster.

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