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We are going through the digital industrial revolution where much of our time and money is going to the digital world. NFTs prove that we own digital home.
Blockchain technology has actually opened a digital, autonomous, dispersed journal that anyone from across the globe can transact on. Transacting on the blockchain includes communicating with wallet addresses. Each cryptocurrency has a wallet and each wallet has an address.

In some cases a wallet will have more than one receiving address. If you accidentally send out one to a wallet address that belongs to a different cryptocurrency, for circumstances, send Bitcoin to an Ethereum address, then the funds you send out will be lost forever. If only there was a way to connect a readable domain name to a wallet address.

What Is A Blockchain Wallet? Domains that so not stop

What makes a blockchain wallet different from a bank account is that there is no central organization that protects and maintains your bank account. Since there is no main organization, such as a bank, securing your wallet on the blockchain, individuals on a blockchain network rely on file encryption to secure their funds in the network. With this being the case, the bank account number and password of each blockchain wallet are a bit more complex.

A raw blockchain wallet utilizes a cryptographic protocol called secrets. Each blockchain wallet has a set of secrets. One key is a personal secret and the other is a public secret. The private key is sort of like your pin for your blockchain wallet, and it proves that you are the owner of the funds in your wallet on the blockchain. Anyone with a wallet’s personal secret can spend the funds in a wallet. Therefore, it is important that you don’t share your personal secret with anybody else as you would approve them free access to your wallet. On the other hand, the public key is like your bank account number and is used to tell individuals where to send money to if they would like to pay you. You can share your public key with anybody that wishes to send you cash.

A receiving address is created using your wallet’s public key. There is no limit to how numerous receive addresses you can create for a blockchain wallet.

Now that we have had a look at how a blockchain wallet works, let’s proceed to have a look at

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In the background, the technology from s routes the different currencies to their particular wallets. This even removes the need for scanning QR codes given that reading them is not 100 percent precise. Getting in touch with the Zilliqa Blockchain, their variation of DNS is built on the Zilliqa blockchain.

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