Development and present situation of cold Wallet
First of all, why not discuss the hot wallet, because as long as the data on the network is not secure, especially the valuable digital assets and important data containing personal privacy.
If there is no Internet connection, no electrostatic radiation or radio wave radiation, and digital assets can be stored, those with the above characteristics can be considered as cold wallets. So in theory, cold wallets are very safe.
Problems faced by cold wallets:
No matter what kind of cold wallet, will face the following problems: 1, lost or stolen; 2, self damage
1. Lost or stolen once lost or the cold wallet itself is stolen, fundamentally speaking, there will be no if it is not.
2. The main causes of self damage are as follows, such as falling, water entry and natural damage. Facts have proved that the more complex the electronic system, the higher the probability of damage. Simply put, there is no electronic equipment that will not be damaged. For example, all kinds of satellites representing the advanced science and technology of human beings may be damaged due to various electronic faults. So what can we do? It is to back up as many as possible when conditions permit. In terms of probability, the security of data will increase geometrically with every backup.
Sallet one cold wallet is equipped with open source code. As long as there is open source code, you can retrieve your cold wallet at any time on Android devices that are not connected to the Internet. No matter in case of loss, damage or theft, you can regain your cold wallet.
Cold wallet development:
The first kind of cold Wallet: because of the explosive development of blockchain, people find that the digital assets and important data stored in our computers and mobile phones are far from meeting our requirements.
So I found a common U disk, hard disk, and even a hard disk with password protection function to store it separately. The advantage is that it can be stored separately at last. But it also faces a new problem, that is, ordinary USB flash drives and hard disks are easy to be damaged, such as accidentally falling or getting into water, or even being damaged inexplicably. Moreover, because there is no password protection, it is not safe (even if the password is set, it is likely to forget the password for a long time), so there is a second kind of wallet
The second kind of cold wallets: the second generation of cold wallets has made a lot of adjustments in the way of preserving digital assets, mainly including the following two types:
1、 Put the data on the remote network by means of encryption. The advantage of this method is that the data is stored on the remote network, when it needs to be used, enter a specific password or mnemonic to extract digital assets, which has the advantages of easy extraction and use. But this also faces a huge problem, that is, in essence, my digital assets are still in other people's homes, because from time to time on the network, in case hackers steal or the company storing your personal digital assets runs away with your digital assets, what do you do?
2、 This method is similar to the first generation of storage method. Now some companies use touch screen and Android system in order to pursue the appearance of high-rise computers. Although it seems cool, it greatly increases the failure rate of the equipment itself! Even if the failure rate of the equipment itself is not taken into account, in case of accidents such as accidental falling, accidental water entering, the safety of the equipment will be greatly reduced.
The third kind of cold Wallet: because of the above imperfections, there is a third solution. Let's take a look at the general data structure of our digital assets. No matter how ever-changing it is, it will eventually become the ID string identifying the address + the corresponding equity string + relevant auxiliary information. Generally speaking, it is the wallet address and how much money is in the wallet, plus some notes.