What is a DasCoin wallet? What are the types of DashiCoin wallets? The English name of the Dashi coin is DASH, formerly known as the dark coin. It is a technical improvement on the basis of Bitcoin. It has good anonymity and decentralization characteristics. It is the first digital currency to protect privacy. Its unique double-layer network enables it to be tested and updated more comprehensively. What is the Dashijin wallet? Now let's get to know.

What is a DasCoin wallet?

Before you explain the DashiCoin wallet, you need to know that technically, DashiCoin is not stored in the wallet, but the public key and private key of DashiCoin are kept in the wallet, and the public key and private key of DashiCoin are respectively a garbled code beginning with a capital X (as shown in the example below). In the DashiCoin system, the public key is like your bank account, and the private key is like your ATM card password, Only when the private key matches the public key will the DasCoin system execute the payment command. When someone pays you, your wallet will receive money accurately only when your public key is entered correctly. Because the private key is like a piece of garbled code, some wallets will generate a mnemonic word in the following table to help you remember. If the private key is lost in the future, just enter the mnemonic word to know that you are the wallet owner and execute the payment command. DashiCoin wallet may be a piece of software or hardware. Its basic function is to help you save your public key and private key. Other functions may be to help you pay, collect money and support the storage of other cryptocurrencies except DashiCoin.

What are the types of DashiCoin wallets?

At present, there are actually many types of DashiCoin wallets on the market, which can be roughly classified into computer desktop wallets, mobile wallets, browser wallets and hardware wallets. According to whether the wallets are connected to the Internet, the wallets can be classified into cold wallets vs. hot wallets, centralized wallets vs. decentralized wallets. Details are as follows:

What are the differences and characteristics between cold wallet and hot wallet?

The hot wallet refers to any wallet connected to the Internet can usually be classified as a hot wallet. Generally speaking, the hot wallet is easier to use and set than the cold wallet. However, because of the networking relationship, there may be threats such as hackers and their own technical vulnerabilities, making the hot wallet less secure than the cold wallet.

Cold wallets refer to wallets that are not connected to the Internet or have only been connected to the Internet for a very small part of the time. Generally speaking, cold wallets have a relatively high security, but usually cold wallets are physical wallets, so they need to be purchased at an additional cost, which is about 500-700 yuan.

In terms of use options, many professional cryptocurrency holders often use both hot and cold wallets at the same time, rather than choosing one. Hot wallets are mostly used to hold cryptocurrencies that often need to be traded or invested, and currencies that need to be kept stationary for a long time will be transferred to cold wallets, so it is a better way to choose the right wallet according to your needs.

What are the differences and characteristics between centralized and decentralized wallets?

The difference between a centralized wallet and a decentralized wallet is whether the account (and the assets it contains) in the wallet are 100% managed by you and only you know the private key. If 100% is managed by you, it can be called a decentralized wallet, and vice versa. What elements will form the conditions for a decentralized wallet?

1. Private public key (i.e. account address)

2. Private key (i.e. withdrawal password)

You can also judge whether the wallet you use is centralized or decentralized by observing the steps of registering/establishing the wallet. The public key that may be used by the centralized wallet (the transfer address of DaShiCoin) is the wallet service provider's fund pool rather than the personal public key, but the platform side will account separately in each user's account in the background. If the above is the case, you may not have your own private key, but the platform side uses email or other authentication methods to confirm that it is your own transaction, Another case is that you have your own private public key, but the private key service provider still has access to it. This is not 100% decentralized wallet. In case the service provider is attacked, the private key may still flow out. The centralized wallet has better security because the private key is recorded on your computer, mobile phone, hard disk or paper. Generally speaking, transactions with a short holding time can use a centralized wallet. If long-term holding or a large amount of money is required, we recommend using a decentralized wallet to ensure asset security.

In general, the above content introduces in detail what the DashiCoin wallet is and what types of DashiCoin wallets are. Because there are many types of wallets in DashiCoin, they can generally be divided into desktop wallets, mobile wallets, browser wallets and hardware wallets. According to whether the wallets are connected to the Internet, wallets can also be classified into cold wallets, hot wallets, centralized wallets, decentralized wallets, etc. Moreover, DashiCoin is a portable, affordable, separable and fast trading digital cash, which is suitable for online transactions and daily life. Thanks to the low transaction fees and fast transaction speed, DashiCoin has been used as a practical substitute for cash and credit cards everywhere.