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When using Bitcoin wallets, we must and must understand these terms: address, password, private key, mnemonic, Keystore. If it is not clear, it is very likely to cause loss of assets. For ease of understanding, we use a bank account for analogy (this article uses the Ethernet wallet as an example):
Address = bank card number

Password = bank card password

Private key = bank card number + bank card password

Mnemonic = bank card number + bank card password

Keystore+password=bank card number +bank card password

Keystore 银行 bank card number

First, definition and use

1, address

Address = bank card number

After the wallet is created, a 42-bit string beginning with 0x is generated. This string is the wallet address. A wallet corresponds to a wallet address. The address is unique and cannot be modified. That is to say, all the tokens in a wallet have the transfer receipt address. it's the same. For example, the ETH transfer receipt address in one wallet and the EOS transfer receipt address are the same. This is not the same as on the trading platform. The transfer receipts of different tokens on the platform are generally different. Therefore, you must confirm the address before transferring to the trading platform.

Uses: Used to send and receive digital currency, similar to our transfer to another bank number or receive someone else's transfer.

2, password

Password = bank card password

When you create a wallet, you need to set a password. This password usually requires no less than 8 characters (including uppercase and lowercase alphanumerics and symbols). For security, it is better to set the password a bit more complicated. The password can be modified or reset. There are two ways to change the password: first, input the original password; second, re-import the wallet with mnemonic or private key, and set a new password.

3, the private key

Private key = bank card number + bank card password

After creating a wallet, enter a password to export the private key, which is a private key in plaintext and consists of a 64-bit string. A wallet has only one private key and cannot be modified. Usually the private key and public key of a wallet appear in pairs. With the private key, we can generate a public key (K) using elliptic curve multiplication, a one-way encryption function. With the public key (K), we can generate a bitcoin address (A) using a one-way cryptographic hash function, which is irreversible. The private key must be kept well and cannot be known to others, or someone else can transfer your money out of your wallet through the private key.

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4, mnemonic

Mnemonic = bank card number + bank card password

Mnemative It is another form of private key, mnemonic = bank card number + bank card password,

Mnemonic = private key. The main purpose is to allow users to better remember their own private keys. After creating a wallet, a backup mnemonic function will appear. Select a backup mnemonic and enter a password. There will be 12 words, one between each word. Spaces, this is a mnemonic. A wallet has only one mnemonic and cannot be modified.

Usage: The mnemonic has the same function as the private key. When importing the wallet, input the mnemonic and reset a password, you can enter the wallet and have the control of the wallet, and can transfer the tokens in the wallet. . If you leaked your mnemonic, it would be streaking.

Reminder: The main Ethernet wallet imToken mnemonics can only be backed up once, after the backup, no longer displayed in the wallet, so it is best to copy the notebook in the backup to save.

5, Keystore

Keystore+password=bank card number +bank card password

Keystore private key

Keystore+password=private key

Keystore is not a private key. It is common in Ethereum wallets. After you create an Ethereum wallet, you will be able to back up the Keystore. Enter the password and a string of characters will appear. This is Keystore. The essence of Keystore is the encrypted private key, Keystore must use with your wallet password.

Uses: When importing wallets, select the official wallet, enter the Keystore and password, and you will be able to access the wallet. It should be noted that this is not the same as importing a wallet with a private key or mnemonic. Importing a wallet with a private key or mnemonic does not require a password.

Second, how to retrieve wallet information

In the real world, if your bank card is lost and your password is forgotten, you can go to the bank to help you find it. But in a decentralized world, once your wallet information is lost, no one can help you find it, even a wallet company cannot. So be sure to back up your wallet information. When we lose some wallet information, we can retrieve it by:

Lost password: You can use a private key, mnemonic, import wallet to reset the password. It should be noted that if the password is lost, the Keystore will lose its function;

The private key is lost: As long as your wallet is not deleted and the password is not forgotten, you can export the private key again. If your wallet is deleted, you can use mnemonics or keystore+password to import the wallet to retrieve it;

The mnemonic is lost: You can import the wallet and back up the mnemonics using the private key or keystore+password.

The keystore lost: as long as your wallet is not deleted, the password has not forgotten, you can back up the keystore. The wallet is deleted. You can use the private key, mnemonic, and import the wallet to back up the keystore.

Third, the consequences of leaking wallet information

We should prevent the leakage of wallet information while we back up the wallet information. If the wallet information is leaked out, what are the consequences?

The password leaked. It doesn't matter.

The keystore has leaked and the password has not leaked. It doesn't matter.

The address + password leaked. It does not matter if the phone is not lost.

The private key is leaked, and others can enter the wallet and transfer the money away.

The mnemonic was leaked, and others could enter the wallet and turn the coin away.

The keystore+ password is leaking, and others can enter the wallet and take the coin away.

To sum up, if there is a leak of information on "private key, mnemonic, Keystore+password", someone else will have control of your wallet and can take away the money in your wallet. Therefore, "private keys, mnemonics, and Keystore+ passwords" must not be disclosed. If there is any possibility of leakage, the coins must be immediately removed.