This document describes the different wallet options that are available to users of the Ethereal who want to be able to send, receive and interact with ETRL tokens on the Ethereal blockchain.
What is a Wallet?
A crypto wallet is an essential tool for anyone looking to securely manage their cryptocurrency holdings. It serves as a container for a collection of key pairs, enabling the sending, receiving, and tracking of cryptocurrency transactions. Wallets can come in various forms, including digital files, pieces of paper, or specialized hardware devices. Some wallets also offer user-friendly smartphone apps and computer programs to manage and interact with their keys.
Each keypair consists of a private key, which must be kept confidential at all times, and its corresponding public key or wallet address. The public key is used to receive cryptocurrency, and it can be shared openly, whereas the private key is required to sign transactions and make changes to the wallet.
Wallets provide various approaches to keypair security, ranging from ease of use to more robust backup solutions. Ethereal supports multiple wallet types to ensure users can balance convenience with security according to their preferences.
To receive ETRL tokens on the Ethereal blockchain, creating a wallet is the first crucial step. Once created, the wallet generates a unique public key that can be shared with others to receive tokens. It's important to note that the private key must be kept secure and should never be shared with anyone. Losing the private key could result in the permanent loss of all tokens stored in the wallet.
As a versatile blockchain platform, Ethereal supports various types of wallets to cater to users' diverse needs. These wallets can be accessed through the Ethereal native command-line app or third-party solutions.
For most users, we recommend using one of our user-friendly app wallets or browser-based web wallets, which provide a familiar and intuitive interface for managing their cryptocurrency holdings. These wallets simplify the process of sending, receiving, and tracking transactions without requiring the user to learn complex command-line tools.
However, for advanced users or developers seeking to leverage the full capabilities of the Ethereal blockchain, our command-line wallets may be more suitable. These wallets provide access to all features of the platform and are typically the first to support new features before third-party wallets integrate them.
In summary, whether you're a novice or an experienced user, Ethereal has a wallet solution to suit your needs. We encourage users to explore our range of wallet options and select the one that offers the optimal balance of security, convenience, and functionality for their specific requirements.