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RE: Cardano Test Net Staking experience so far!

in #cardano3 years ago

Oh, that's interesting. I've only ever used 3rd party for Neo and Stellar.

Maybe Iota and Tron also have 3rd party out now. I actually rarely plug it in these days as I use it more for savings. I have a software wallet I use for buying stuff when I need to. I don't really want anyone knowing my savings addresses, so if I need those, I'll wash them through Binance.

The slow and steady approach for Cardano is really great. I focused on Steem way too much during 2019 and really didn't look into anything I haven't already invested in. I do plan to get back to the others I neglected last year, but are on my radar.

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The Bitcoin based blockchains (and wallets that implement Hierarchical Determinism, which all good ones do...) should generate new addresses with each transaction deposit... such that the addresses are more like invoice numbers rather than a single deposit point.

I have one of those. I think it is called segwit and starts with 3 instead of 1. You can still see it in the wallet and check if it leaves. It's a good idea, but so is spamming new addresses when transfers are fast and cheap. Ledger makes it easy to keep track of everything.

Segwit is slightly different, it was to strip additional metadata that would need to be written to the block from memory... HD is the ability to derive many public/private key pairs from an initial seed across multiple Bitcoin-derived chains. It is what makes Ledger able to handle many Bitcoin based chains easily without 3rd party applications or support. The onboard address manager handles all the intra and extra transfers seamlessly to make it appears like you only have a single wallet instead of many millions/trillions of linked one-use addresses!

PS: Apologies if you already knew this!

I remember people calling the wallets segwit wallets, there were 2 or 3 BIP involved with the HD wallets. I don't think those even required hard forks. The main segwit update was huge and unrelated as you mention. It is all confusing. I really need to get back into studying other blockchains, especially before I invest in new ones.