Video-tutorial on how to backup your byteball wallet and setup a multisig wallet
tutorial·@zoneboy·
0.000 HBDVideo-tutorial on how to backup your byteball wallet and setup a multisig wallet
#### Repository https://github.com/byteball/byteball #### What Will I Learn? * You will learn how to backup a Byteball wallet by 12 wallet seed words * You will learn how to do a full backup on a byteball wallet * You will learn how to create a multi-signature wallet with Byteball * You will learn the functions, similarities, and differences between the two backup methods * You will learn the advantages associated with multi-signature wallet #### Requirements * Installation of Byteball wallet application * Writing material to store the 12 wallet seed words and storage device to store the 12 wallet seed words and storage device to store the backup file * Two internet enabled devices with byteball wallet application already installed to create the multi-signature wallet. #### Difficulty - Basic #### Description In this video tutorial, I talked about the process involved in backing up and restoring a byteball wallet. I also talked about how you can create a multiple signature wallet. I went further to talk about the different backup methods we have, highlighting their functions, similarities, and differences. I ended by talking about the advantages associated with multi-signature wallets. #### Backup process The byteball wallet application has two methods of backing up a wallet. They are Backup wallet seed and Full backup #### Backup and restore of byteball wallet using 12 wallet seed words The backup wallet seed consist of 12 automatically generated words which represents your account. This method of backup only allows you to backup your public assets such as your bytes and assets detailed in the DAG (Directed Acyclic Graph). It neither allows you to backup private assets such as blackbytes, ICO tokens, nor restore multi-signature wallets and smart contracts. The full backup is require for this. It is advised to save your 12 wallet seed words in a safe place because, in the wrong person possession, the person can access your public assets. As a security measure, byteball wallet application also recommends you delete the wallet seed words after you have saved it. #### Backup and Restore of byteball wallet using full backup Full backup is the second backup method available in the byteball application. The full backup allows backing up your public and private assets, multi-signature wallets and smart contracts. It creates an encrypted file that is saved on your storage device of choice. This encrypted file is further secured with your desired password. This file can be used to restore your public assets and private assets up to the time of the last private transaction you made before the backup. Restoring your wallet from full backup will permanently delete all your existing wallets. This is to prevent cloning of wallets that may lead to loss of your funds. If you want to access your funds from multiple devices, you can use multi-signature wallet. #### Multi-signature wallet Byteball wallet application gives freedom for users to create a type of wallet known as multi-sig or multiple signature wallet or multiple device wallet. Up to six different devices can be set up which gives them access to the same wallet. While setting up the multi-signature wallet, the user can specify the number of devices required to sign off a transaction depending on the number of devices attached to the wallet. #### Video Tutorial https://youtu.be/TmXg8VyH5z0 #### References * https://wiki.byteball.org/Main_Page * https://byteball.org #### Proof of Work Done https://github.com/zoneboy
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