Simple to use crypto wallet; burner for the crown!

10개월 전

INTRODUCTIONBitcoin was the first cryptocurrency to have existed and it was developed and released in 2009 by Satoshi Nakamoto and it became the means of exchange that combines decentralization, user anonymity and record keeping through a blockchain.It was developed to have scarcity, so as to preserve its value in the market.images.pngSource As time went on, several other cryptocurrencies started springing up, all these were to complement the features of bitcoin, maximize profit and further solve the problems created by Traditional means of payment.Bitcoin became so popular and durable that several companies incorporated it as a means of payment or rather, a legitimate means of payment. Companies like WordPress, Newegg, and Expedia became merchants accepting payment in Bitcoin.In 2015, Ethereum was developed and there were notable improvements on the very basics of Bitcoin's architecture, it uses smart contracts that helps fast track transactions and also prevents parties from going against agreements. Another notable feature it had was the fact that payments could be reversed in cases where one party violates rules.The blockchain provides the platform for the existence of these cryptocurrencies. download (1).jpegSource More so, the blockchain in its structure holds transactional records where it makes sure it upholds transparency, decentralization and security. The security of funds recently has been so reliable with the use of blockchain technologies as it eliminates third parties. But Crytocurrency wallets are important for the storage of these coins, which is why I am doing this review. I introduce you to an amazing known asimages (4).jpegSource # BURNER WALLET wallet was created by Austin Griffith in November 2018 and it provides a very swift means for the exchange of very small amount to cryptocurrency, which can be done using a mobile browser.Since then, Austin Griffith has been spreading the word and gathering feedback at numerous public demonstrations. The wallet’s first major test took place in mid-February 2019 at ETHDenver. There, 11 food trucks accepted xDai via Burner Wallets and sold 4,405 meals for a total of $38,432.56. And the total fees were only $0.20 (i.e., twenty cents)!It runs on xDai Chain and uses xDai, taking advantage of low fees and fast transaction times. The beauty of this wallet is that it is dynamin, in that you do not have to store for a long time. If you use a Burner Wallet, you should regularly sweep funds into a more secure wallet and burn your Burner Wallet’s private key (you can always make a new one).# What’s xDai?Many people confuse Xdai with the wallet feature and here is a simple explanation to it. XDai is a blockchain platform developed thrugh POA Ethereum sidechain and uses the Proof of Autonomy consensus. Proof of Autonomy resembles Proof of Authority, but instead of a centralized authority, a DAO manages validators. Other properties of xDai Chain include 5-second block times and low gas prices.. The token is known as xDai token.It runs on xDai Chain and uses xDai, taking advantage of low fees and fast transaction times. The beauty of this wallet is that it is dynamic, in that you do not have to store for a long time. # Burner wallet and important facts of use IMG_20190609_004843.jpgIf you use a Burner Wallet, you should regularly sweep funds into a more secure wallet and burn your Burner Wallet’s private key (you can always make a new one).The owners have informed users that the platform is not ideal for storage for a long period of time, hence the name ‘BURNER’# Getting StartedScreenshot_20190609-005557.pngTo get started, Visit the website at XDAI.IO.Before making transactions, you need to have some xDai, and you can get this by exchanging your ETH or Dai through the Burner wallet interface. The very first step to doing this, is by connecting your ETH mainnet, you can use Metamask as it is very easy to setup. After that, you now have some xDai and you can then switch back to the xDai mainnetVery simple to do.# Working PrincipleThe website works very simple and fast. You do not need to generate any public/private key, the site automatically generates a pubic/private key pair. You don’t need to remember a seed phrase; the private key lives in a cookie in your web browser (remember the convenience-security tradeoff).Then to send some tokens/coin, Tap Request, enter the amount of xDai you want to send (and a message if you want), and tap Request again. This brings up a QR code.After scanning QR code from the browser you are using, you you’ll see a “Send to Address” form. The form will be populated with your mobile Burner Wallet’s address and the amount you chose to receive. Click Send, confirm the transaction, and, then you’ll have xDai on your mobile phone! Within 5 seconds!# Burning your private keyScreenshot_20190609-003352.pngAfter you’ve finished using your mobile Burner Wallet, send any remaining xDai to a more secure wallet. Then you can burn your private key by going to Advanced->Burn PK. The option to burn your private key only exists on mobile.If you need some Dai, you can find the best price by checking DEX.AG . If Uniswap has the best price, you can use Settle’s [Swap Tool](Swap Tool app) app to swap ETH for Dai on your Settle dashboard # Likes One thing I like about this wallet is the simplicity and friendly user interface. You do not need to toggle or search through items. Everything has been positioned very well of the website. All you need to do is to start using it # Dislikes I do not like the fact that you get your private key burnt after a transaction. One can easily confuse these keys with other keys and it might bring about account loss and theft # final thoughts.The wallet is ideal for exchanging ethereum and the the xDai tokens. Very efficient in transaction and I highly recommend it for use. More so, you do not need to worry about security as everything has a very secured line of communication. Burner wallet is indeed excellent for use! State of dapps References Burner wallet All images were sourced unless otherwise indicated (from website and whitepaperBitcoin was the first cryptocurrency to have existed and it was developed and released in 2009 by Satoshi Nakamoto and it became the means of exchange that combines decentralization, user anonymity and record keeping through a blockchain.It was developed to have scarcity, so as to preserve its value in the market.images.pngSource As time went on, several other cryptocurrencies started springing up, all these were to complement the features of bitcoin, maximize profit and further solve the problems created by Traditional means of payment.Bitcoin became so popular and durable that several companies incorporated it as a means of payment or rather, a legitimate means of payment. Companies like WordPress, Newegg, and Expedia became merchants accepting payment in Bitcoin.In 2015, Ethereum was developed and there were notable improvements on the very basics of Bitcoin's architecture, it uses smart contracts that helps fast track transactions and also prevents parties from going against agreements. Another notable feature it had was the fact that payments could be reversed in cases where one party violates rules.The blockchain provides the platform for the existence of these cryptocurrencies. download (1).jpegSource More so, the blockchain in its structure holds transactional records where it makes sure it upholds transparency, decentralization and security. The security of funds recently has been so reliable with the use of blockchain technologies as it eliminates third parties. But Crytocurrency wallets are important for the storage of these coins, which is why I am doing this review. I introduce you to an amazing known asimages (4).jpegSource # BURNER WALLET wallet was created by Austin Griffith in November 2018 and it provides a very swift means for the exchange of very small amount to cryptocurrency, which can be done using a mobile browser.Since then, Austin Griffith has been spreading the word and gathering feedback at numerous public demonstrations. The wallet’s first major test took place in mid-February 2019 at ETHDenver. There, 11 food trucks accepted xDai via Burner Wallets and sold 4,405 meals for a total of $38,432.56. And the total fees were only $0.20 (i.e., twenty cents)!It runs on xDai Chain and uses xDai, taking advantage of low fees and fast transaction times. The beauty of this wallet is that it is dynamin, in that you do not have to store for a long time. If you use a Burner Wallet, you should regularly sweep funds into a more secure wallet and burn your Burner Wallet’s private key (you can always make a new one).# What’s xDai?Many people confuse Xdai with the wallet feature and here is a simple explanation to it. XDai is a blockchain platform developed thrugh POA Ethereum sidechain and uses the Proof of Autonomy consensus. Proof of Autonomy resembles Proof of Authority, but instead of a centralized authority, a DAO manages validators. Other properties of xDai Chain include 5-second block times and low gas prices.. The token is known as xDai token.It runs on xDai Chain and uses xDai, taking advantage of low fees and fast transaction times. The beauty of this wallet is that it is dynamic, in that you do not have to store for a long time. # Burner wallet and important facts of use IMG_20190609_004843.jpgIf you use a Burner Wallet, you should regularly sweep funds into a more secure wallet and burn your Burner Wallet’s private key (you can always make a new one).The owners have informed users that the platform is not ideal for storage for a long period of time, hence the name ‘BURNER’# Getting StartedScreenshot_20190609-005557.pngTo get started, Visit the website at XDAI.IO.Before making transactions, you need to have some xDai, and you can get this by exchanging your ETH or Dai through the Burner wallet interface. The very first step to doing this, is by connecting your ETH mainnet, you can use Metamask as it is very easy to setup. After that, you now have some xDai and you can then switch back to the xDai mainnetVery simple to do.# Working PrincipleThe website works very simple and fast. You do not need to generate any public/private key, the site automatically generates a pubic/private key pair. You don’t need to remember a seed phrase; the private key lives in a cookie in your web browser (remember the convenience-security tradeoff).Then to send some tokens/coin, Tap Request, enter the amount of xDai you want to send (and a message if you want), and tap Request again. This brings up a QR code.After scanning QR code from the browser you are using, you you’ll see a “Send to Address” form. The form will be populated with your mobile Burner Wallet’s address and the amount you chose to receive. Click Send, confirm the transaction, and, then you’ll have xDai on your mobile phone! Within 5 seconds!# Burning your private keyScreenshot_20190609-003352.pngAfter you’ve finished using your mobile Burner Wallet, send any remaining xDai to a more secure wallet. Then you can burn your private key by going to Advanced->Burn PK. The option to burn your private key only exists on mobile.If you need some Dai, you can find the best price by checking DEX.AG . If Uniswap has the best price, you can use Settle’s [Swap Tool](Swap Tool app) app to swap ETH for Dai on your Settle dashboard # Likes One thing I like about this wallet is the simplicity and friendly user interface. You do not need to toggle or search through items. Everything has been positioned very well of the website. All you need to do is to start using it # Dislikes I do not like the fact that you get your private key burnt after a transaction. One can easily confuse these keys with other keys and it might bring about account loss and theft # final thoughts.The wallet is ideal for exchanging ethereum and the the xDai tokens. Very efficient in transaction and I highly recommend it for use. More so, you do not need to worry about security as everything has a very secured line of communication. Burner wallet is indeed excellent for use! State of dapps References Burner wallet All images were sourced unless otherwise indicated (from website and whitepaperP5J7hAMERkBqTryhweTUpgtu5sQY9gj1HJPJmXMc4hsm1htd69AM

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