-1

I am new to crypto currency and just start to study EOS. I have general idea about various concepts and terms in EOS area. However I still quite confused by this EOS wallet thing. My understanding is following:

  1. EOS block chain realizes ledger of transactions (of course these are smart contract, DApps etc., but I focus on token and transactions here for now)
  2. EOS transactions require EOS accounts (identified by 12 character account name)
  3. account is assigned public keys (Owner, active)
  4. transfer token from account1 to account2 needs account1's private key to sign it and account2's pub key to received the token
  5. wallet is the place to store key pairs, cold wallet adds extra security by isolating itself from open network

Please correct me if my above understanding is wrong. So base on these points, I see EOS wallet as just a key locker box, which protects the key used to unlock EOS accounts. It's not a place to store EOS token as a real world wallet for people to store cash. Is that right? All the EOS tokens are stored in EOS accounts. However, without the corresponding private keys, a hacker-thief can not steal the token from the account even he can hack into the account, right?

0

The wallet is where you store the private key which is stored encrypted.

This private key is then un-encrypted temporarily and used to sign transactions which are then sent to an API node which forwards the trx assuming it meets all the necessary resource constraints and does not encounter a smart contract assertion.

Like all blockchain accounts, whoever controls the keys controls the account.

The EOSIO account is stored in RAM on the EOSIO network in question. The token balance is stored on the token's smart contract table.

As a side note if the contract wanted to it could change your balance if the tokens keys were compromised or the team changed the code of the contract.

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.