Startup Funding Espresso – What Is a Blockchain Wallet

What Is a Blockchain Wallet Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. A blockchain wallet is an online wallet with which users store and manage their digital assets. These assets could include cryptocurrencies, tokens, non-fungible tokens called NFTs, or more. The wallet maintains the links to networks, applications, and other systems. The wallet has a password for user access and can be recovered using a seed phrase in case the password is lost. The wallet does not physically hold the digital assets but rather holds the links to those assets. The wallet has a public key and a private key. The public key is an address for the wallet and can be used as a means of identifying the wallet. The private key acts as a password. The private key is used to ensure the security of the wallet to which the user is the only one who has access. Web2 applications use the login/password method to provide user access. The problem here is that the public key and the private key are the same. By placing a network token into your wallet you can gain access to that network. The user controls their data through the wallet rather than login/password access. Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let's go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Investors check out: https://tencapital.group/investor-landing/ For Startups check out: https://tencapital.group/company-landing/ For eGuides check out: https://tencapital.group/education/ For upcoming Events, check out https://tencapital.group/events/ For Feedback please contact [email protected] Please follow, share, and leave a review. Music courtesy of Bensound.