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Official Ethereum Cryptocurrency Wallet

People do not have time to get used to electronic payment systems and operating title marks issued by the latter in a centralized fashion, the evolution Wed dstv taken aimoraschetov presented to mankind one more surprise. The appearance in 2009 of the first digital currency bitcoin , as one would expect, went unnoticed not only by ordinary people. Representatives of the academic community also remained ignorant for a long time, but the success achieved by the pioneer provoked the emergence of many analogues, among which Ethereum stands out , the brainchild of the Russian-speaking programmer Vitalik Buterin, who is a loyal subject of Canada. 

Ethereum, similar to Bitcoin, is a virtual payment instrument devoid of physical embodiment, which requires special software to store coins. Of course, in this case, one should give preference to the official Ethereum wallet, created by a team consisting of the developers of this cryptocurrency. The types of official versions of crypto-storages will be discussed in our story. 

A little bit about Ethereum cryptocurrency

Today, Ether is the second most popular and market capitalized digital currency, the value of which, in 2017 alone, has grown more than 12 times. Meanwhile, these coins differ from Bitcoin in that they are not created from its source code and are not yet another fork . Moreover, Ethereum has its own kind of full-fledged blockchain and a unique system of smart contracts, which have no analogues . First of all, Ethereum is not only a currency, but also a new generation crypto platform, which has almost unlimited potential for development and application in a wide variety of spheres of human life.

The main directions of development of the Ethereum phenomenon are:

  •                    Creation of autonomous organizations of the decentralized type ( The DAO).
  •                    Applications devoid of centralized management practices ( DApps ).
  •                    Campaign crowdfunding held startups in different directions in order to attract start-up capital.

Considering the variety of applications and the growth of the distribution area, as well as a significant increase in exchange quotations, Ether has become a very popular asset, which, unlike Bitcoin , is a more convenient means of investment. After all, it costs much less (at least 15 times) the first cryptocurrency and shows much solid indicators of the increase in value in percentage terms. We can safely say that every self-respecting investor or ordinary users should think about creating an Ethereum wallet and it is recommended to do this on the official website. For completeness of the disclosure of the topic under discussion, it is worth noting that storages are very diverse, but we will consider only those varieties that are offered directly by the developers of this digital currency.  

The main official MIST wallet

The main official Ethereum wallet is MIST, which can be downloaded from the developers website https://github.com/ . It is not recommended to use unofficial web resources for this purpose. 

On the main Github page, you can easily find a special file that has the extension. exe designed for installation and adapted for use on different operating systems. At the same time, they are supported by different versions of all major operating systems, such as: Windows , Linux , Mac OSX. A separate release is provided for Ubuntu , but it has an extension. deb . When choosing a wallet version, you should take into account the bitness of the OS used by a particular user. There are 32 and 64 bit releases. The installation process is standard and simple, but the latest versions should be preferred. At the time of this writing (10/26/2017), this is release 0.9.2.

During the first launch, the program proceeds to automatically download the full version of the blockchain containing the entire transaction history using Ethereum . For quick manipulations, a high-speed Internet connection is required. Despite this, the duration of the download and subsequent synchronization can drag on for a whole day.

After initialization is complete, the wallet is almost ready for use. The interface, designed in the style of minimalism, allows you to figure it out without much difficulty with many options. A simple wallet creation mechanism allows you to register multiple vaults. One Ethereum address or account can be used for one or several wallets.

MIST is not only an Ethereum wallet imported from the official website, but also a very flexible tool that has a multipurpose purpose and is equipped with many options. It is possible to assess the polyfunctionality of the latter in the process of the multifaceted operation of the institution of smart contracts. The simplicity of the interface should explain the same ease of manipulation of the profile options by both experienced and novice users.

MIST wallet advantages:

  •                    Supplied by the team of official developers of the Ethereum cryptocurrency .
  •                    High efficiency of defense mechanisms.
  •                    Ease of settings.
  •                    Downloading the full version of the blockchain to your computer .
  •                    Local storage of private keys.
  •                    Adaptation to all versions of modern OS.
  •                    Availability of open source code.

Among the disadvantages are:

  •                    The duration of synchronization, which can rather be called an inconvenience, taking into account safety and usability.
  •                    The need for a large amount of free memory on the PC.
  •                    Blockchain takes up a lot of hard disk space and is constantly growing in volume.

Varieties of the lightweight Ethereum wallet MyEtherWallet

So much has been written about the advisability of using light versions of cryptocurrency storages that there is no point in continuing the topic. We only note that they, as a rule, are supplied by outside developers and are inferior to stationary and hardware counterparts in the context of the effectiveness of protective mechanisms. However , MyEtherWallet and its variants are an exception, as these Ethereum wallets are listed on the official website https://github.com/ .  

When using these wallets, the following points should be considered:

  •                    It is a highly flexible tool designed for a wide range of applications.
  •                    During the operation, an account is not created on the official web resource.
  •                    No transfer of crypto savings for storage to a third party.
  •                    Private information is stored on the blockchain .
  •                    All data remains on the users PC.
  •                    The client regulates all his actions without any outside interference.

When operating MyEtherWallet , the following standards should be observed:

  •                    Private keys and passwords that provide access to cryptoassets should be carefully guarded. After all, their loss means the loss of control over the Ethereum coins .
  •                    You need to create multiple copies of your private keys and store them in secure locations, not just on your PC.
  •                    If you still dont trust the developers and do not want to have an Ethereum savings wallet on the official website, you can download and install the release intended for local use on your own PC. This version is equipped with similar functionality and is not inferior to the online versions in any of the points.

Opportunities MyEtherWallet :

  1.                 The wallet allows you to create multiple user profiles with new keys.
  2.                 An option for importing old secret keys into the MyEtherWallet storage .
  3.                 Creation of backup copies of passwords with the ability to print through the printer.

Along with ease of operation and a variety of uses, the official lightweight Ethereum wallet MyEtherWallet has a number of advantages, which we will discuss at the end of the story.   

Pros of MyEtherWallet :

  •                    Time-tested reliability.
  •                    The effectiveness of defense mechanisms.
  •                    Ease of setting and using a variety of options.
  •                    Work online and offline .
  •                    It does not take up much space on the PC, since the full version of the blockchain is not loaded .
  •                    Local storage of private keys and passwords.
  •                    It functions without being tied to the computer operating system.
  •                    Availability of open source code.

Despite the prevailing negative stereotypes, there have been no difficulties in the work and hacking of user accounts of the MyEtherWallet wallet , which has shown itself only from the best side.

For completeness, the narration should understand the terminology used to refer to the varieties of the official Ethereum wallets MyEtherWallet . There are 3 versions:

  1.                 MyEtherWallet is an online wallet.
  2.                 MyEtherWallet CX is a special extension for the Google Chrome browser .
  3.                 MyEtherWallet v63. - a release intended for installation and operation on a PC.

At the end of the article, once again remind the user of several important standards. When creating a new wallet, do not lose old private keys that need to be stored and create multiple copies, storing them in safe places, not just on your own personal computer.

Always be careful when entering the wallet address of the recipient of cryptocoins , as Ethereum transactions can not be reversed.