「Cryptocurrency wallet」タグアーカイブ

How to securely store your Pi wallet recovery phrase

コメントを残す

The 24-word recovery phrase for your Pi wallet is crucial information for protecting your assets. If lost or stolen, you could permanently lose access to your wallet. Here are some best practices for securely storing this important phrase.

Write it on paper and store it in a safe place

Writing your recovery phrase on paper and storing it in a safe place is the easiest and safest method. To avoid security risks in a digital environment, store the paper copy in a highly secure location.

Avoid digital storage

Storing the phrase as a photo or text file carries the risk of digital hacking. Therefore, avoid storing it in digital format.

Create multiple copies and store them in different locations

By creating multiple copies of the phrase and storing them in different locations such as your home or office, you prepare for the loss or damage of a copy.

Use a fireproof and waterproof safe

Storing the paper copy of the phrase in a fireproof and waterproof safe provides additional security. Consider storing it at home or in a bank.

Do not share with anyone

The 24-word recovery phrase is the key to accessing your wallet. It is most important not to share it with anyone and keep it secret.

If storing digitally, encrypt it

If you absolutely must store it in digital format, encrypt the data and store it on a device not connected to the internet (e.g., USB).

Use Microsoft Excel to password protect

Another method is to use Microsoft Excel to create a password-protected file containing your recovery phrase. You can set a password for the file and use it as an additional measure for secure storage.

What is PCM Wallet? Features and Functions of PiChain Global’s Cryptocurrency Wallet Explained

2件の返信

I would like to introduce a product called PCM Wallet, developed by a project called PiChain Global.

PCM Wallet is a type of cryptocurrency wallet. A wallet is an app or tool for storing and sending/receiving cryptocurrency.

PCM Wallet is a wallet designed to make it easy to experience the world of Web3. Web3 is a decentralized internet that uses technologies such as blockchain and smart contracts to eliminate centralized intermediaries and authorities, allowing users to interact directly with each other.

PCM Wallet aims to eliminate the complexity of traditional cryptocurrency wallets and be a user-friendly and secure wallet. With PCM Wallet, you can participate in a vast ecosystem offering various products and services such as e-commerce, NFTs, and DeFi.

Let’s take a closer look at the functions and features of PCM Wallet.

PCM Wallet Features

PCM Wallet has the following features:

  • Supports ERC-20 and BEP-20 tokens
  • Direct access to Pi Chain Mall
  • Connects to NFT marketplaces
  • Supports DeFi services
  • Provides cryptocurrency information

Let’s explain each feature in detail.

Supports ERC-20 and BEP-20 tokens

PCM Wallet supports ERC-20 and BEP-20 tokens. These tokens are cryptocurrencies issued on the Ethereum and Binance Smart Chain blockchain networks, respectively.

Ethereum and Binance Smart Chain are blockchain networks that can provide various applications and services using automatically executing programs called smart contracts. Smart contracts can enhance trust, transparency, and efficiency.

PCM Wallet allows you to switch between the Ethereum and Binance Smart Chain networks. This allows you to access applications and services available on both networks.

Direct access to Pi Chain Mall

PCM Wallet provides direct access to Pi Chain Mall, PiChain Global’s e-commerce platform. On Pi Chain Mall, Pi Network pioneers can buy and sell their goods and services, and shop using Pi coins.

Pi Network is a cryptocurrency project that can be mined on smartphones. Pi coin is the native token of Pi Network and is planned to be used in the decentralized internet in the future.

Pi Chain Mall is a place where Pi Network pioneers can sell and buy their goods and services online. On Pi Chain Mall, you can make payments using Pi coins. Pi Chain Mall also supports the world of Web3, including NFTs and DeFi.

Connects to NFT marketplaces

PCM Wallet can also connect to NFT marketplaces. On NFT marketplaces, you can create, buy, and sell digital content such as art, games, and music as NFTs.

NFT stands for Non-Fungible Token. NFTs are unique and indivisible tokens that can prove ownership and authenticity of digital content.

NFTs are permanently recorded on the blockchain, eliminating the risk of tampering, forgery, or theft. NFTs increase the value and demand for digital content and also provide a new source of income and platform for expression for creators and artists.

Supports DeFi services

PCM Wallet also supports DeFi services such as staking and farming. With DeFi services, you can earn interest by depositing cryptocurrency or earn rewards by providing liquidity.

DeFi stands for Decentralized Finance, which refers to decentralized financial services. DeFi allows for financial activities such as lending, trading, and investing using blockchain and smart contracts, without the need for centralized intermediaries or regulations.

PCM Wallet supports DeFi services, allowing you to earn revenue using cryptocurrency. With PCM Wallet, you can use the following DeFi services:

  • Staking: By depositing cryptocurrency into a specific project and contributing to the network’s security and operation, you can earn rewards.
  • Farming: By depositing, lending, borrowing, or exchanging cryptocurrency on various DeFi protocols, you can earn new tokens.
  • Liquidity Provision: By depositing cryptocurrency into an exchange pool to increase trading liquidity, you can earn a portion of the fees.

To use these DeFi services, simply put cryptocurrency into your PCM Wallet and connect the wallet to the desired application. By switching between the Ethereum and Binance Smart Chain networks, you can access DeFi services available on both networks.

Provides cryptocurrency information

PCM Wallet provides information such as cryptocurrency prices, charts, and news. With PCM Wallet, you can check the balance and value of the cryptocurrency you hold. You can also view cryptocurrency market trends and the latest news.

PCM Wallet also makes sending and receiving cryptocurrency easy. With PCM Wallet, you can send and receive cryptocurrency using QR codes or addresses. You can also check the history of sends and receives.

PCM Wallet Features

We have looked at the functions of PCM Wallet, but PCM Wallet also has features that differ from other wallets. We have summarized the features of PCM Wallet as follows:

  • User-Friendly: PCM Wallet adopts a simple and intuitive interface so that even cryptocurrency beginners can use it easily. PCM Wallet clearly displays the necessary functions and information to make cryptocurrency management and operations simple.
  • Security: PCM Wallet ensures a high level of security for storing and sending/receiving cryptocurrency. PCM Wallet is equipped with features such as encryption, backup, and recovery to protect users’ private keys and cryptocurrency assets. PCM Wallet respects user privacy and security.
  • Diversity: PCM Wallet supports both the Ethereum and Binance Smart Chain networks and can manage both ERC-20 and BEP-20 tokens. PCM Wallet enables integration with various applications and projects to provide access to a wide range of products and services such as e-commerce, NFTs, and DeFi.

Summary

PCM Wallet is a cryptocurrency wallet developed by PiChain Global. PCM Wallet is designed to make it easy to experience the world of Web3 and provides access to products and services such as e-commerce, NFTs, and DeFi. PCM Wallet is a user-friendly, secure, and diverse wallet.

If you are interested in PCM Wallet, please download it. Experience the innovation of decentralized commerce with PCM Wallet and dive into a place where trust and innovation meet. Explore a world where Web3 becomes accessible, engaging, and transformative, together with PiChain Global.

Pi Network Announces Secure Multisig Wallet: How it Works and How to Use It

コメントを残す

The Pi Network multisig wallet is a wallet that allows Pioneers to delegate their Pi to apps created in the Pi Browser.¹ This allows Pioneers to support the development of apps that increase the value of Pi, while retaining control over their own Pi.¹

The Pi Network multisig wallet can only be used within the Pi Browser.² The Pi Browser is a dedicated browser that provides access to the Pi Network Testnet Ecosystem.³ The Testnet Ecosystem is a place where Pi Network developers and users can try out various apps and utilities they have created.³

To use the Pi Network multisig wallet, follow these steps:⁴

– First, download the Pi Network app and become a Pioneer.
– Next, open the Pi Browser and access the Testnet Ecosystem.
– Then, select the app you want to use the multisig wallet with.
– After that, confirm the number of required keys (M) and the number of generated keys (N) specified by the app developer.
– Next, enter the amount of Pi you want to delegate to the app from your Pi balance.
– Finally, sign with M private keys. For example, in the case of “2 of 3”, sign with 2 out of 3 private keys.
– Once the signature is verified as correct, the Pi transfer will be executed. The transferred Pi will move to the multisig address managed by the app developer.

These are the steps for using the Pi Network multisig wallet. The multisig wallet is a secure technology that brings new possibilities to Pi Network Mainnet apps.

 

What is a Multisig Wallet?

 

A multisig wallet is a cryptocurrency wallet that requires multiple signatures. Specifically, it is a type of wallet that requires multiple signatures to approve and execute a transaction.

 

A cryptocurrency wallet is a tool for storing and managing cryptocurrency. A wallet has a “private key” that only you know and a “public key” that you can share with others.² From the public key, an “address” is generated in a human-readable format. The address is used for sending cryptocurrency and checking balances.

 

Cryptocurrency transactions are recorded on a distributed ledger called a blockchain. The blockchain records information about how much balance is in a wallet address. To move the balance, the private key from which the address was derived is required. When moving a balance, transaction data is created and electronically signed using the private key. Whether the transaction data is signed with the private key from which the address was derived can be verified by a third party, and this verification process is mining.

 

Multisig wallets use multiple private keys. Data cannot be signed unless the correct keys are present, so the more keys there are, the more secure it is. Having multiple keys reduces the risk of theft or loss compared to having only one key.

 

Multisig wallets are usually expressed in the “M-of-N” format. For example, if two out of three public keys are used to decrypt a signature, it is written as “2 of 3”. There is no fixed number of keys; there can also be “3 of 4”, etc. However, setting it to “2 of 3” is common.

 

How Does a Multisig Wallet Work?

 

A multisig wallet works according to the following steps:

 

First, when creating a multisig wallet, determine the number of required keys (M) and the number of generated keys (N).

 

Next, generate N private and public keys. From these public keys, a multisig address is created.

 

Then, deposit cryptocurrency into the multisig wallet. The deposited cryptocurrency is linked to the multisig address.

 

When withdrawing cryptocurrency, sign with M private keys. For example, in the case of “2 of 3”, sign with 2 out of 3 private keys.

 

Once the signature is verified as correct, the cryptocurrency transfer will be executed.

 

References

 

  1. (1) Let’s create a π wallet with Pi Browser! Introducing setup methods and usage …. https://raripop.com/how-to-use-the-piwallet/.
    (2) What is a Pi Wallet? Pi Network Wallet …. https://www.btcc.com/ja-JP/academy/crypto-basics/what-is-a-pi-network-wallet-a-thorough-explanation-of-how-to-create-one.
    (3) What is Multisig? Benefits, drawbacks, mechanism, support …. https://bing.com/search?q=%e3%83%91%e3%82%a4%e3%83%8d%e3%83%83%e3%83%88%e3%83%af%e3%83%bc%e3%82%af+%e3%83%9e%e3%83%ab%e3%83%81%e3%82%b7%e3%82%b0%e3%82%a6%e3%82%a9%e3%83%ac%e3%83%83%e3%83%88+%e4%bd%bf%e3%81%84%e6%96%b9.
    (4) What is Multisig? Benefits, drawbacks, mechanism, support …. https://bap-software.net/knowledge/multisig/.
    (5) Introduction to Pi Browser and How to Create a Pi Wallet – Earn Fun Side Income …. https://ysfx5.com/piwallet-test/.