xuanling11Crypto Paycheck
Photo by Mario Gogh on UnsplashEmployees will receive their paycheck in the period as a reward for their work. However, the employer wants to pay less to employees so that they can have maximum profits. The tension between working and anti-working has increased ever since. TL;DR Nobody wants to work unless they can pay fairly. Fiat payment may not be sustainable to satisfy what workers can contribute if the employer continues paying less and gaining more from profits. Employees will want thei...
xuanling11Defi Review #4: AAVE The Defi Lending Services
AAVE is a decentralized finance lending service before decentralized finance even existed. It is an innovation lending service in crypto and one of the first kind. However, the lending service may only restrict to the crypto community and it may expand into the traditional financial field later. TL;DR AAVE is a crypto lending financial service which to provides lending services to the crypto community. They focus on security and smart contract lending may be the future of financial services. ...
xuanling11Stablecoin Crisis
Stablecoin is in the crisis mode. The most reputable stablecoin USDC is depegged. It is all triggered by the traditional bank collapse - Silicon Valley Bank or SVB collapse. Why traditional bank collapse impacts crypto stablecoin? Let's sort this out and reveal how stablecoin operates. First, why SVB collapse? The short answer is overleveraged. SVB is one of the 20 largest commercial banking in the United States. Some even estimate the bank owned half of startup assets. Bank operated in ...
xuanling11Crypto Paycheck
Photo by Mario Gogh on UnsplashEmployees will receive their paycheck in the period as a reward for their work. However, the employer wants to pay less to employees so that they can have maximum profits. The tension between working and anti-working has increased ever since. TL;DR Nobody wants to work unless they can pay fairly. Fiat payment may not be sustainable to satisfy what workers can contribute if the employer continues paying less and gaining more from profits. Employees will want thei...
xuanling11Defi Review #4: AAVE The Defi Lending Services
AAVE is a decentralized finance lending service before decentralized finance even existed. It is an innovation lending service in crypto and one of the first kind. However, the lending service may only restrict to the crypto community and it may expand into the traditional financial field later. TL;DR AAVE is a crypto lending financial service which to provides lending services to the crypto community. They focus on security and smart contract lending may be the future of financial services. ...
xuanling11Stablecoin Crisis
Stablecoin is in the crisis mode. The most reputable stablecoin USDC is depegged. It is all triggered by the traditional bank collapse - Silicon Valley Bank or SVB collapse. Why traditional bank collapse impacts crypto stablecoin? Let's sort this out and reveal how stablecoin operates. First, why SVB collapse? The short answer is overleveraged. SVB is one of the 20 largest commercial banking in the United States. Some even estimate the bank owned half of startup assets. Bank operated in ...
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I tried to explain what Wallet is in comic strips.
TL;DR
I explained what Wallet can do and what the drawback of Wallet is.
Some Takeaway
The crypto wallet is software to connect blockchain to users. The wallet contains public and private keys. Public keys are similar to bank accounts, and private keys are similar to passwords. The wallet does not actually hold your crypto assets within the software. Instead, it is a browser to show where your crypto is in the blockchain and can use your key to prove transactions you initiate.
Important of Wallet
One of the significant features of a wallet is to prove your ownership of the crypto assets. However, it is also important to keep your private keys hidden. Or you will lose ownership of the wallet when your private keys are revealed to the public.
Different types of wallets
There are many types of wallets. The types are related to the feature of security. It ranges from the most secure wallet to a less secure wallet. A paper wallet is the most secure since it is detached from the internet. However, if the physical medium has been destroyed, you will have no chance to recover your assets. In contrast, the hot wallet is the less secure wallet that has been connected to the internet. Hackers likely want to access your asset whenever possible.
Alternative Methods
There are services to secure user wallets and provide custodian services. The well-known company is Coinbase. You access your assets similarly to log into your online bank account. They control private keys for you and provide the necessary security to protect your assets only if you pay them service fees to maintain such high security for you.
Scams
Scammers also want your wallet access. There are many scams on the internet but mainly through phishing to trick users into providing private keys. Remember, you do not want to share your private key information in any circumstances.
In conclusion
The crypto wallet is a piece of software to help you access your crypto assets and initiate transactions. Private keys are the most important information you should never reveal to anyone.
I tried to explain what Wallet is in comic strips.
TL;DR
I explained what Wallet can do and what the drawback of Wallet is.
Some Takeaway
The crypto wallet is software to connect blockchain to users. The wallet contains public and private keys. Public keys are similar to bank accounts, and private keys are similar to passwords. The wallet does not actually hold your crypto assets within the software. Instead, it is a browser to show where your crypto is in the blockchain and can use your key to prove transactions you initiate.
Important of Wallet
One of the significant features of a wallet is to prove your ownership of the crypto assets. However, it is also important to keep your private keys hidden. Or you will lose ownership of the wallet when your private keys are revealed to the public.
Different types of wallets
There are many types of wallets. The types are related to the feature of security. It ranges from the most secure wallet to a less secure wallet. A paper wallet is the most secure since it is detached from the internet. However, if the physical medium has been destroyed, you will have no chance to recover your assets. In contrast, the hot wallet is the less secure wallet that has been connected to the internet. Hackers likely want to access your asset whenever possible.
Alternative Methods
There are services to secure user wallets and provide custodian services. The well-known company is Coinbase. You access your assets similarly to log into your online bank account. They control private keys for you and provide the necessary security to protect your assets only if you pay them service fees to maintain such high security for you.
Scams
Scammers also want your wallet access. There are many scams on the internet but mainly through phishing to trick users into providing private keys. Remember, you do not want to share your private key information in any circumstances.
In conclusion
The crypto wallet is a piece of software to help you access your crypto assets and initiate transactions. Private keys are the most important information you should never reveal to anyone.
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