Blockchain Wallets - The bridge for Human and Blockchain.

In Real-world, Wallets are used for holding cash, cards, or other things. But the purpose of the wallet is to store some things, easy to carry and handle

*) In Blockchain, the same thing is presented in different formats; called Blockchain wallets or Crypto wallets. 

*) Blockchain wallet is a thing that is used to store the cryptocurrencies like Bitcoin, Ethereum, Solana, and much more.

*) These wallets are used to make transactions and without these wallets, none of the transactions will occur. 

*) Every transaction occurred in a wallet is fully secured, due to these wallets are following Cryptography.

*)  Both Public and private keys are present, but the private is top secret and the public key is used to make transactions in the blockchain.

*) In the wallet, we can see various blockchain addresses for transaction purposes. And, each address represents the blockchain.

This is my address:- 

Ethereum - 0xB6C784dB83538646C3AD67eA025A11bA49880c21

Solana - BMpE17BaauA8GUX5ym97cNam1k4PifW7oeJD9wPggnn7

Bitcoin - bc1q3qtpng345hup3q99a8qxdxn7ajfy730lxn56uz

*) Here, you can see my various address. Each Blockchain has an individual address and Each address is completely different from the other. 

*) These addresses are the public key. By using this address, you can check the transaction records and other info from the blockchain scanner tools.

*) The private key is top secret. It’s similar to your password; it should not get hacked and you should not disclose it to anyone. 

*) You use this private key to spend your funds. If someone gets access to your private key, there is a high possibility that your account is compromised, and you might end up losing all the cryptocurrency deposits in your account.

Types of Wallets

Most the Blockchain wallets are classified into two types, namely:-

1) Hardware Wallets

2) Software Wallets

 

In other terms, it will be represented as "hot wallets and cold wallets."

1) Hardware Wallets are too hard and it's like a Vault. Because it has individual public and private keys. It can be connected by computer through USB. 

*) These wallets are hard for beginners. 

*) The example of Hardware wallets are Ledger Nano X, Trezor, Ellipalwallet, CoolWallet, and much more.

Software wallets are classified as Desktop wallets, Mobile wallets, and Web wallets. 

*) Desktop wallet is a wallet run on the Desktop (Eg:- Atomic Wallet). 

*) Mobile wallets are easy to handle and send the cryptos by using mobile (Eg:- Trust Wallet). 

*) Web wallets are similar to web applications that are used only on the web. These wallets are the least secure wallets.  

*) As the same, some wallets are used as plugins that can be used as web3 authentication, DApps, and much more (Eg:- Metamask, Phantom).

Note:- Some wallets have private keys and some wallets have seeding phrases like 12 words. Don't share with anyone for any reason, if you had an assent on those wallets.