What types of blockchain wallets are there (classification of blockchain wallets)?
A blockchain wallet is decentralized software used to store digital assets, acc
A blockchain wallet is decentralized software used to store digital assets, according to coindesk. It is a wallet that allows for the trading of tokens such as Bitcoin and Ethereum as currency on smartphones, but also enables users to manage their digital assets through third-party wallets. There are various types of wallets in this category: cryptocurrency wallets, gaming wallets, or other application wallets. These wallets are issued by blockchain companies that provide token or product support for various services on their network as well as payment functions.
Classification of Blockchain Wallets
Blockchain wallets can be divided into three types: hardware wallets, browser wallets, and non-custodial wallets. Hardware wallets refer to various hardware devices used by users on smartphones or PCs to manage their private keys and digital assets. Non-custodial wallets mainly include decentralized wallets for cryptocurrencies such as Bitcoin and Ethereum, as well as various types of cryptocurrency wallets stored in the cloud.
Blockchain wallets also provide transaction functions. Although these wallets do not support direct downloads from exchanges or third-party wallets, they can be accessed by connecting to any server (such as Apple, Google, or Facebook). Additionally, they allow for the use of private chains (such as IPFS/Filecoin) to transfer their data to node operators, enabling them to verify specific tokens.
Currently, blockchain wallets mostly do not rely on central databases but are maintained through applications built by software developers. Instead, they typically employ cryptographic methods to protect user information, such as security measures. These applications are more convenient and cost-effective compared to traditional electronic payment systems.
Due to the limited scope of wallet usage, its security cannot be completely overlooked. However, blockchain wallets do face the following two risks:
1. Security issues with funds
2. Risk of phishing attacks
3. Malware vulnerabilities and potential new technology vulnerabilities
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