Understanding Blockchain Cryptography and types of Wallets!

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A base theme in the Blockchain is that by understanding it we can better understand how these networks operate and in which they base a large part of its functioning in general.

In Continuation with my previous Post on basics of Cryptography...

Symmetric Cryptography
It is one of the oldest and most used types of cryptography, basically it is based on using a key to encryption and decrypted, that is why its name of symmetric cryptography, is a model used up to today's day by banks, for example, those who keep A password in a database with which the user accesses and compares the introduction and the one on the base, in case of coinciding access is given.

Certainly there is an algorithm of encryption by means, nowadays in digital media at least and are quite safe, equal have been historically used, one of the best known examples is that of the enigma machine used by Germany in World War II To transmit messages.

Asymmetric Cryptography
This is one of the most important concepts of Blockchain, asymmetric cryptography, also called public key cryptography is a method that consists of coding a message with a password that is called "publica " which is generated based on a private password , On the contrary, it is impossible, then who knows the private password is the only one who can decrypt the public password.

Of course, digital signatures are intervening in this process that are those that make it possible by sending messages through this method and its subsequent validation by those who know the private key.

This method is highly safe and is based on the resistance of the algorithms with which they work, however security itself falls on the password, which is a basic principle in safety, so the characters with which these keys are composed They are so long, but we can not demeal the algorithms or hash functions with which these keys occur and those who make possible the process and its resistance to brute force attacks, clearly of the latter is also part of the extreme length of the keys.

How Blockchain Wallets Cryptography works?

First of all I would like to clarify that it is a Wallet in a Blockchain, we can define it as a software that works based on the data handled in the same network, they are usually called DAPPS, and many times they tend to consist of certain functions that the They make multifunctional, however, focus on the question and we will say that they work for the main, receive and send the tokens that work on the blockchain.

They work in a pretty interesting way, since it is not exactly as it is painted, as such these only store the public and private keys we possess.

Basically the tokens are unrepeatable information in a network, then the keys the only thing they do is serve as directions to send this information (basically with a value due to demand), this as part of a transaction that is made in the blockchain (Public key) and password to access the value by decrypting the address or public key to access the message or transaction once it signs the same (private key) Wallets facilitate this process of sending and receiving.

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Some of the types of Wallets are the following:

Hardware Wallet: This type of wallet is characterized by being a device which is not connected to the Internet with which the public and private keys are clearly saved, that device is the one who is responsible for generating the keys and they can not leave the , in case a forced or physical access is attempted, the device would be self-destructive.

Paper Wallets: This type of wallet is characterized by saving public and private keys on paper, clearly a very simple process, was quite used at the time and up to date there is one who uses this method, although it is not very common For the arrival of other methods easier to use and useful.

Lightweight Wallets: This type of wallets consist of a light desktop software which only downloads a part of the Blockchain, a very common example is Electrum, they are quite utilized and very used because of this, simply fast and efficient programs with which as Our public and private keys can be saved, allowing you to move our assets from our device very easily and quickly.

Mobile Wallet: These are the Wallets that work on mobile devices, with which we can make payments or simply move tokens very quickly, are very similar to the Lightweight Wallets because they work with small parts of the Blockchain, in the same way Very simple to operate and quite safe.

Desktop Wallet: These are the safest and are characterized by installing it completely on the hard drive and save the public and private passwords there. Clearly by not specifying being connected to the network, it is totally independent of it and takes the safety of our assets at a very high level, they also serve to move the amounts that we want by making them highly useful for any type of person.

Online Wallet: This type of wallets are usually about web applications that are installed in the browser, such as BSC or TronLink, although there are some that are installed on the desktop, however they are all characterized by being wallets that are always connected to The network and therefore work on a server that can be controlled by a company or person, however these usually offer security to the holder of their funds.

Cryptography in Blockchain is an extensive topic, basically is the model adapted by these networks for safety and operation, a series of mathematical calculations and operations that launce a whole network related to each other, functioning by pure power of calculation of their Nodes and a series of pre-established parameters that dictate the rules of the network, equally participation in it.

In order to enter this world it is very important to know the functioning of all this in general, private, public keys, transactions, etc. this because the functioning of these networks, which today are used very commonly as channels of Payment between people is very different from the banking model to which it is accustomed.

Understanding it will take us to reduce the danger of scam and a better mobilization of our funds, we will understand the care that should be had when it comes to handling our passwords and we will apply the right steps to create any wallet, or decide what kind of it we want to use depending depending on of our needs.

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