Book Image

Blockchain Developer's Guide

By : Brenn Hill, Samanyu Chopra, Paul Valencourt, Narayan Prusty
Book Image

Blockchain Developer's Guide

By: Brenn Hill, Samanyu Chopra, Paul Valencourt, Narayan Prusty

Overview of this book

Blockchain applications provide a single-shared ledger to eliminate trust issues involving multiple stakeholders. It is the main technical innovation of Bitcoin, where it serves as the public ledger for Bitcoin transactions. Blockchain Developer's Guide takes you through the electrifying world of blockchain technology. It begins with the basic design of a blockchain and elaborates concepts, such as Initial Coin Offerings (ICOs), tokens, smart contracts, and other related terminologies. You will then explore the components of Ethereum, such as Ether tokens, transactions, and smart contracts that you need to build simple DApps. Blockchain Developer's Guide also explains why you must specifically use Solidity for Ethereum-based projects and lets you explore different blockchains with easy-to-follow examples. You will learn a wide range of concepts - beginning with cryptography in cryptocurrencies and including ether security, mining, and smart contracts. You will learn how to use web sockets and various API services for Ethereum. By the end of this Learning Path, you will be able to build efficient decentralized applications. This Learning Path includes content from the following Packt products: • Blockchain Quick Reference by Brenn Hill, Samanyu Chopra, Paul Valencourt • Building Blockchain Projects by Narayan Prusty
Table of Contents (37 chapters)
Title Page
About Packt

Chapter 9. Cryptocurrency Wallets

In this chapter, we will discuss cryptocurrency wallets in details. In earlier chapters, we have been introduced to wallets as well as the types of crypto wallets; in this chapter, we will further discuss wallets in detail, their source, and how the security of wallets can be strengthened.

Wallets are used to store private and public keys along with Bitcoin addresses. Coins can be sent or received using wallets. Wallets can store data either in databases or in structured files. For example, the Bitcoin core client wallets use the Berkeley DB file.

The topics we will cover in this chapter are as follows:

  • Importance of cryptocurrency wallets
  • Software wallets
  • Hardware wallets
  • Paper wallets
  • Brain wallets
  • Key derivation methods in a cryptocurrency wallet
  • Mnemonic codes