Introduction to the development of digital asset W
1、 On Chain Wallet: send digital currency to a wallet address, and the transaction is broadcast, confirmed and packaged into blocks in the whole network. This happens on the chain, which is called on chain transaction; on Chain Wallet needs to keep its own private key.
2、 Off Chain Wallet: compared with on chain transaction, it is off chain transaction. Usually, the transaction through the exchange is off-chain, and I have no private key. The private key is in the exchange and is held in trust by the exchange. Therefore, the wallet of the exchange is also a centralized wallet.
3、 Cold Wallet: cold means offline or off-line. In other words, the location of private key storage cannot be accessed by the network. For example, paper wallet, brain wallet, hardware wallet and so on.
4、 Hot Wallet: hot is networking, that is, the private key is stored in a location that can be accessed by the network. For example, wallets stored in exchanges, online wallet websites and mobile app wallets are all hot wallets. Generally speaking, cold wallets are safer and hot wallets are more convenient to use.
5、 Full node Wallet: in addition to the private key, the full node wallet also stores the data of all blocks, the most famous of which is bitcoin core.
6、 Light Wallet: it doesn't have to save all the data of blocks, only the data related to itself. Decentralization can be achieved.
7、 Centralized wallets: wallets in exchanges and similar safe services provided by oklink.