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Development scheme of blockchain digital wallet system to build multi-currency wallets in Sinochem

Blockchain can be simply understood as the technology of collectively maintaining a secure and reliable account book through decentralization, blockchain technology solves the problem of trust through cryptography, and any two parties who reach an agreement can trade directly without a third-party intermediary.

Take Bitcoin, for example, who each Bitcoin belongs to is established by private key and transaction signature. When using Bitcoin transfer, each transaction needs the miner to verify that the signature is valid before it can be written into the block. The person who owns the private key can produce a valid signature. It can be said that owning the private key of the account has the ownership of the account. Of course, the private key is not stored in the blockchain network, but is locally generated by the user and stored in the file. The tool to generate and store the private key is called the blockchain wallet.

Basic functions of Block chain Digital Wallet

What are the main functions of a typical digital asset wallet?

The first is to keep the key to your blockchain assets, which we call the private key.

Second, it can query your assets. According to your private key, public key and address, you can find out how many bitcoins and other digital currencies you have on the block chain.

Third, when you transfer money from your wallet, you will use the signature you need in the transfer process and the ability to broadcast to the blockchain network.

With the continuous development of the digital assets industry and the continuous improvement of the digital ecological environment, the scene function of the digital wallet will become more and more important. Its future development focuses on three aspects: the first is to ensure the safety, openness and convenience of wallet services; the second is to build a digital asset management platform around asset appreciation needs to provide users with rich financial products and improve the conversion rate of users; the third is to connect digital assets with the real world, enrich digital assets application scenarios, and build digital asset ecology.

Development scheme of blockchain digital wallet system to build multi-currency wallets in Sinochem

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