Speaking of cryptocurrency, we have to mention Bitcoin (BTC), which can be said to be the king of coins and the most successful blockchain project to date. Bitcoin was born in 2008 in Satoshi Nakamoto's white paper "Bitcoin: A Peer-to-Peer Electronic Money System". Bitcoin is a decentralized, revolutionary currency with no issuer. The total number is fixed at 21 million. Based on blockchain technology, every transaction can be traced, and transaction records cannot be forged and tampered with. It can be said that cryptocurrency completely solves a series of previously impossible problems such as network decentralization, avoidance of double payment, high efficiency and reliability, no sovereign currency, and cheap anonymity.

 

If you want to own and save Bitcoin, you cannot do without the client, which is the Bitcoin wallet. The wallet usually contains public key, private key, address and other related transaction information. The private key is used to generate the public key, and the public key can generate the Bitcoin address. This process is irreversible. It is also because Bitcoin uses an irreversible algorithm to complete this process. The private key can be understood as the key to the safe. Having the private key means owning the assets. Once the private key is lost or stolen, the assets will never be retrieved.

 

What should I do if I create a wallet and lose it accidentally and want to restore it? This requires mnemonic words. The mnemonic word is a mnemonic code of 12 to 24 words, which can generate a 512-bit seed. The seed is the data that generates the master key. The data of the wallet is derived from the seed. Some wallets also contain a password, which is the credential to enter the wallet.

 

Take Bitcoin as an example. Bitcoin wallet does not actually contain Bitcoin. The wallet is just a database composed of a private key and a public key. Bitcoin is stored in the blockchain. The user signs the transaction with the private key. The bitcoin in the transaction will be recorded and can be queried. The miner is responsible for verifying the transaction and charging a certain fee. The blockchain is a huge database ledger. This transaction is stored in the blockchain database and no one can tamper with it.

 

At present, there are thousands of Tokens on the market. Some people may wonder which wallet should be placed in a certain Token. If you transfer the Token to a wallet that does not support the Token, it is very likely that you will never be able to find it again. Therefore, the correct wallet should be selected.

 

The core data of the wallet is the private key. If the amount of Bitcoin is large and the security requirements are high, a cold wallet is the best choice. Choose Sallet one Celerine Wallet, never touch the Internet, never connect to electronic devices, so that your cryptocurrency can get the best security protection.