Steemit Crypto Academy | Homework Task 4 For @sapwood. | Exploring multichain wallet | by drqamu

View this thread on steempeak.com
· @drqamu ·
$28.18
Steemit Crypto Academy | Homework Task 4 For @sapwood. | Exploring multichain wallet |
This is my homework task for @sapwood which is about exploring different features of multichain wallet. 

***
<div class="text-justify">Multichain wallet as the name implies is a crypto wallet that is capable of holding crypto token from multiple blockchains unlike single chain wallet that holds token(s) from a single blockchain. So the point to be cleared is that the name , multi and single is based on blockchain and not on the coins. This differentiation is important because a single chain wallet can hold multiple tokens but from a single blockchain. So we can say that multi chain wallets have solved the problem of keeping seprate wallet and their keys for each coin. Now a single mneumonic phrase and or private key has to be stored to keep track of all the coins that one holds on multichain wallet. Let me go for specifics of task now. </div>

***

<sup> (1) Have you ever used any Multichain wallet(Non-custodial)? Examples? (Hint- Guarda Wallet, Atomic Wallet, Trust Wallet, or any other wallet of your choice)(2) How many different coins(of different Blockchains) does it support? </sup>

<div class="text-justify">
The multichain wallet that i have used - Atomic wallet. It being multicurrency wallet supports more than 300 custom tokens and more than 30 blockchains.</div> 

***

<sup> (3) How do I back up the seed key(Mnemonic key) and/or the individual private keys of different coins in a Multichain wallet? Screenshots(Hide the sensitive info) </sup>
<div class="text-justify">
Let me talk about Atomic wallet, seed key (mnemonic key) is provided once you successfully log into your account. Atomic wallet provides option to copy your seed key.</div> 

![1615030585153.jpg](https://cdn.steemitimages.com/DQmVVBNc5u6qmfTjRxDwP1F9m5p3X1iMb3ck44Ne1EHAWA6/1615030585153.jpg)
<div class="text-justify">
Click copy , mneumonic phrase will be copied to your clip board. The best way to store is to write it down on a piece of paper and store it with your documents to which no one has access. You can also store on a pen drive which is free from virus. Seed key or HD mneumonic phrase is important to keep safe your assets because with the help of seed key, the private key of  different tokens that atomic wallet holds can be accessed. </div>

***

<sup> (4) How do I re-import the existing Multichain wallet in a fresh installation? </sup>
<div class="text-justify">
Suppose you have already created a multichain account and due to some reason you had to restore your phone / PC. Now when you reinstaall multichain wallet, you will have to reimport the earlier wallet which may be holding your assets and that is explained below. </div>
<br>
<div class="text-justify">
Launch the downloaded app ( for example, atomic wallet) . Below interface is seen. </div>

![Screenshot_2021-03-06-17-27-22-768_io.atomicwallet.jpg](https://cdn.steemitimages.com/DQmdfhvrALWpYCYmqFz5SQecDR5dZTk3UZJEe3EX1iov9J5/Screenshot_2021-03-06-17-27-22-768_io.atomicwallet.jpg)

<div class="text-justify">
We see two options, create new wallet and restore from back up. As we already have account ,  we will go for restore from back up. Click on it and next interface to appear is below. </div>

![IMG_20210306_174010.jpg](https://cdn.steemitimages.com/DQmZGafqSBTNrxKNfNgQYNm1ZQjkjZYFDnd9Tah7QjxeJmq/IMG_20210306_174010.jpg)
<div class="text-justify">
So it demands 12 word back up phrase ( mnemonic or seed key) .  Atomic wallet also provides option to paste the phrase. Once done click restore, next page to open is, setting new password and confirm new password. Here one thing to note is that, you can set new password but mneumonic phrase has to be same. So forgetting password is not issue but having back up of mneumonic phrase is mandatory. </div>

***

<sup> (5) How do I add/import a new coin in a Multichain wallet using the private key of the coin? Examples/Screenshots? (Hint- Import TRX in Trust Wallet)</sup>

<div class="text-justify">
This is a wonderful featured of a multichain wallet and it gave me pleasure and a feel thet, yes i am learning new things. So trying to import Tron from my tron link wallet yo trust wallet. Here we go. </div>

* Once you log in to your trust wallet. On the main interface of the app, click on settings. 
![IMG_20210306_181142.jpg](https://cdn.steemitimages.com/DQmTPaPZohjzWhHNPe8o6A1qEZTTfUcR9sqHMZurHvEqghw/IMG_20210306_181142.jpg)

* Next click on wallet 
![IMG_20210306_181410.jpg](https://cdn.steemitimages.com/DQmRUYhwKSFg8mdhYu1jFnJHmm3LuDMMgNSrCkoH9KeJxSy/IMG_20210306_181410.jpg)


* At the top right corner of the next page, is + sign. Click on + sign. 

![IMG_20210306_181607.jpg](https://cdn.steemitimages.com/DQmehWteHRm5GA7DJxJknBFRT6Q8giFcj6CyPVfaKyzHH6z/IMG_20210306_181607.jpg)

*Next we have to choose, i already have a wallet. 
![IMG_20210306_181747.jpg](https://cdn.steemitimages.com/DQmeqVCLuoAM1nws9511MbobGXV3cFHQdRsEurwYxivJCJ9/IMG_20210306_181747.jpg)

* Than we have to select the asset (say TRON) to be imported
![IMG_20210306_182305.jpg](https://cdn.steemitimages.com/DQmXTDCjzNXY5tfDQ69qqUyB3bQeZJtm2LomiTNvAGjwPKP/IMG_20210306_182305.jpg)

* once we click on the asset, next interface seek mneumonic phrase. As task demands to use private key, change mneumonic key to private key and enter the Tron private key. Than click import and you are done. 

***

(6) How do I import a Multichain wallet(of a different service) using the seed key? Examples/Screenshots? (Hint- Import Exodus wallet or Atomic wallet into Trust Wallet)

<div class="text-justify">
It is again a very exciting feature for me. Honestly, i am trying it the the first time. Here I'll try to import atomic  wallet into Trust wallet. 
Just like importing any coin as above, firet few steps are similar as above. Log into trust wallet, click on settings, than wallet and than plus sign at top right corner. Unsteady of selecting any coin as above, select multichaim wallet.</div>
 

![IMG_20210306_210516.jpg](https://cdn.steemitimages.com/DQmTRfbHzG6xYpVrXPxWSTwz6kFCi9s5dpXJfFvYyLu757M/IMG_20210306_210516.jpg)


Next i entered  mneumonic phrase of atomic wallet and proceeded to import wallet and than 
![IMG_20210306_184832.jpg](https://cdn.steemitimages.com/DQmdKCJ5PithFn1onVf7wGWxQNsa4vUuGdKqKG7wdZcFaoZ/IMG_20210306_184832.jpg)
Unbelievable! 

Just to check, whether i am done. I came back to main page of trust wallet and clicked on settings. Next page that appeared shows wallets ( below which is written , multichain wallets - 2 ) . As i clicked i saw both wallets listed. 
![IMG_20210306_185046.jpg](https://cdn.steemitimages.com/DQmapm4B7psSFAEkbqkYVake2M7Myk6mnaCGXWVsRHQFy5h/IMG_20210306_185046.jpg)

***

![IMG_20210306_185057.jpg](https://cdn.steemitimages.com/DQmbPNsMxBgGtHsrF2BzN98quf7rFqrXVoA2EUkqqwjbr6B/IMG_20210306_185057.jpg)

***

## Thanks

## Twitter shared 

## 100% power up

***
👍  , , , , , ,
properties (23)
post_id89,723,416
authordrqamu
permlinksteemit-crypto-academy-or-homework-task-4-for-sapwood-or-exploring-multichain-wallet-or
categoryhive-108451
json_metadata{"tags":["hive-108451","sapwood-week4","cryptoacademy","india","blockchain","cryptowallet"],"users":["sapwood"],"image":["https:\/\/cdn.steemitimages.com\/DQmVVBNc5u6qmfTjRxDwP1F9m5p3X1iMb3ck44Ne1EHAWA6\/1615030585153.jpg","https:\/\/cdn.steemitimages.com\/DQmdfhvrALWpYCYmqFz5SQecDR5dZTk3UZJEe3EX1iov9J5\/Screenshot_2021-03-06-17-27-22-768_io.atomicwallet.jpg","https:\/\/cdn.steemitimages.com\/DQmZGafqSBTNrxKNfNgQYNm1ZQjkjZYFDnd9Tah7QjxeJmq\/IMG_20210306_174010.jpg","https:\/\/cdn.steemitimages.com\/DQmTPaPZohjzWhHNPe8o6A1qEZTTfUcR9sqHMZurHvEqghw\/IMG_20210306_181142.jpg","https:\/\/cdn.steemitimages.com\/DQmRUYhwKSFg8mdhYu1jFnJHmm3LuDMMgNSrCkoH9KeJxSy\/IMG_20210306_181410.jpg","https:\/\/cdn.steemitimages.com\/DQmehWteHRm5GA7DJxJknBFRT6Q8giFcj6CyPVfaKyzHH6z\/IMG_20210306_181607.jpg","https:\/\/cdn.steemitimages.com\/DQmeqVCLuoAM1nws9511MbobGXV3cFHQdRsEurwYxivJCJ9\/IMG_20210306_181747.jpg","https:\/\/cdn.steemitimages.com\/DQmXTDCjzNXY5tfDQ69qqUyB3bQeZJtm2LomiTNvAGjwPKP\/IMG_20210306_182305.jpg","https:\/\/cdn.steemitimages.com\/DQmTRfbHzG6xYpVrXPxWSTwz6kFCi9s5dpXJfFvYyLu757M\/IMG_20210306_210516.jpg","https:\/\/cdn.steemitimages.com\/DQmdKCJ5PithFn1onVf7wGWxQNsa4vUuGdKqKG7wdZcFaoZ\/IMG_20210306_184832.jpg","https:\/\/cdn.steemitimages.com\/DQmapm4B7psSFAEkbqkYVake2M7Myk6mnaCGXWVsRHQFy5h\/IMG_20210306_185046.jpg","https:\/\/cdn.steemitimages.com\/DQmbPNsMxBgGtHsrF2BzN98quf7rFqrXVoA2EUkqqwjbr6B\/IMG_20210306_185057.jpg"],"app":"steemit\/0.2","format":"markdown"}
created2021-03-06 15:58:57
last_update2021-03-06 15:58:57
depth0
children3
net_rshares31,004,245,072,077
last_payout2021-03-13 15:58:57
cashout_time1969-12-31 23:59:59
total_payout_value14.092 SBD
curator_payout_value14.091 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length6,849
author_reputation259,020,020,453,132
root_title"Steemit Crypto Academy | Homework Task 4 For @sapwood. | Exploring multichain wallet |"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars0
author_curate_reward""
vote details (7)
@drqamu ·
![IMG_20210306_213022.jpg](https://cdn.steemitimages.com/DQmVw6uKqnhZdit4APzXdA7E7TLQYQ6hFiSnyouiCoyy7WN/IMG_20210306_213022.jpg)

https://twitter.com/Qamran7007/status/1368229856564015112?s=20
properties (22)
post_id89,723,453
authordrqamu
permlinkqpk1ud
categoryhive-108451
json_metadata{"image":["https:\/\/cdn.steemitimages.com\/DQmVw6uKqnhZdit4APzXdA7E7TLQYQ6hFiSnyouiCoyy7WN\/IMG_20210306_213022.jpg"],"links":["https:\/\/twitter.com\/Qamran7007\/status\/1368229856564015112?s=20"],"app":"steemit\/0.2"}
created2021-03-06 16:01:27
last_update2021-03-06 16:01:27
depth1
children0
net_rshares0
last_payout2021-03-13 16:01:27
cashout_time1969-12-31 23:59:59
total_payout_value0.000 SBD
curator_payout_value0.000 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length193
author_reputation259,020,020,453,132
root_title"Steemit Crypto Academy | Homework Task 4 For @sapwood. | Exploring multichain wallet |"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
@sapwood ·
$5.80
> Thank you for attending the lecture in Steemit-Crypto-Academy & doing the homework task-4.

> So forgetting password is not issue but having back up of mneumonic phrase is mandatory.

That's correct. The password that you set in the new installation/device is local to that device. The private key/Mnemonic key holds the universal control of your wallet. If you know the key, you can set a new password in a fresh installation.

> This is a wonderful featured of a multichain wallet and it gave me pleasure and a feel thet, yes i am learning new things.

Indeed.

Using this feature one can easily switch to targeted use as well as multi-purpose use of a wallet at the same place depending on the priority & requirements. 

I am happy to learn that you are now familiar with a Multichain wallet. That's the objective of crypto-academy. 

> It is again a very exciting feature for me. Honestly, i am trying it the the first time.

Even if a Multichain wallet service provider shuts down its service or stops development, then also we can easily switch to a different wallet service provider using the seed key.

Using the seed key we can derive all the private keys of the associated coins.


Thank you.

--- 

**Homework Task -4 successfully accomplished**
**[8.5]**
👍  
properties (23)
post_id89,747,312
authorsapwood
permlinkqpnee5
categoryhive-108451
json_metadata{"app":"steemit\/0.2"}
created2021-03-08 11:25:30
last_update2021-03-08 11:25:30
depth1
children1
net_rshares7,491,962,066,615
last_payout2021-03-15 11:25:30
cashout_time1969-12-31 23:59:59
total_payout_value2.900 SBD
curator_payout_value2.900 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length1,268
author_reputation444,403,814,260,033
root_title"Steemit Crypto Academy | Homework Task 4 For @sapwood. | Exploring multichain wallet |"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
author_curate_reward""
vote details (1)
@drqamu ·
Thanks for your  detailed review.
properties (22)
post_id89,747,394
authordrqamu
permlinkqpneu8
categoryhive-108451
json_metadata{"app":"steemit\/0.2"}
created2021-03-08 11:34:57
last_update2021-03-08 11:34:57
depth2
children0
net_rshares0
last_payout2021-03-15 11:34:57
cashout_time1969-12-31 23:59:59
total_payout_value0.000 SBD
curator_payout_value0.000 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length33
author_reputation259,020,020,453,132
root_title"Steemit Crypto Academy | Homework Task 4 For @sapwood. | Exploring multichain wallet |"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000