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Wait, WTF Is A Blockchain?: Etherscan - Io

The document discusses blockchain technology and cryptocurrency wallets. It provides explanations of key concepts like: - The blockchain is a decentralized global ledger that records all transactions. It is maintained by miners across the world. - Cryptocurrency wallets like MyEtherWallet allow users to access their funds on the blockchain but cannot recover lost passwords or access user accounts directly. - To protect funds, users must secure their private keys and avoid phishing attempts or scams that try to steal login credentials or money. Hardware wallets can increase security.

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HoratiuBogdan
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223 views

Wait, WTF Is A Blockchain?: Etherscan - Io

The document discusses blockchain technology and cryptocurrency wallets. It provides explanations of key concepts like: - The blockchain is a decentralized global ledger that records all transactions. It is maintained by miners across the world. - Cryptocurrency wallets like MyEtherWallet allow users to access their funds on the blockchain but cannot recover lost passwords or access user accounts directly. - To protect funds, users must secure their private keys and avoid phishing attempts or scams that try to steal login credentials or money. Hardware wallets can increase security.

Uploaded by

HoratiuBogdan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Si eu m-am ars la inceput cu chestia asta, te forteaza sa platesti

comisioanele in moneda lor BNB, pe scurt: cumpara niste BNB, dute la


profil bifeaza sa platesti toate comisioanele in BNB si nu vei mai avea
probleme cu fractii si cifre dupa virgula.

Wait, WTF is a Blockchain?

 The blockchain is like a huge, global, decentralized spreadsheet.


 It keeps track of who sent how many coins to whom, and what the balance of every
account is.
 It is stored and maintained by thousands of people (miners) across the globe who have
special computers.
 The blocks in the blockchain are made up of all the individual transactions sent from
MyEtherWallet, MetaMask, Exodus, Mist, Geth, Parity, and everywhere else.
 When you see your balance on MyEtherWallet.com or view your transactions
on etherscan.io, you are seeing data on the blockchain, not in our personal systems.
 Again: we are not a bank.

Why are you making me read all this?


Because we need you to understand that we cannot...

 Access your account or send your funds for you X.


 Recover or change your private key.
 Recover or reset your password.
 Reverse, cancel, or refund transactions.
 Freeze accounts.

You and only you are responsible for your security.

 Be diligent to keep your private key and password safe. Your private key is sometimes
called your mnemonic phrase, keystore file, UTC file, JSON file, wallet file.
 If you lose your private key or password, no one can recover it.
 If you enter your private key on a phishing website, you will have all your funds taken.
If MyEtherWallet can't do those things, what's the point?

Because that is the point of decentralization and the blockchain.

 You don't have to rely on your bank, government, or anyone else when you want to move
your funds.
 You don't have to rely on the security of an exchange or bank to keep your funds safe.
 If you don't find these things valuable, ask yourself why you think the blockchain and
cryptocurrencies are valuable. 😉
 If you don't like the sound of this, consider using Coinbase or Blockchain.info. They have
more familiar accounts with usernames & passwords.
 If you are scared but want to use MEW, get a hardware wallet! These keep your keys
secure.

How To Protect Yourself from Phishers

Phishers send you a message with a link to a website that looks just like
MyEtherWallet, EtherDelta, Paypal, or your bank, but is not the real
website. They steal your information and then steal your money.
 Install EAL or MetaMask or Cryptonite by Metacert or the MyEtherWallet Chrome
Extension to block malicious websites.
 Always check the URL: https://www.myetherwallet.com.
 Always make sure the URL bar has MYETHERWALLET LLC [US] in green.
 Do not trust messages or links sent to you randomly via email, Slack, Reddit, Twitter, etc.
 Always navigate directly to a site before you enter information. Do not enter information
after clicking a link from a message or email.
 Install an AdBlocker and do not click ads on your search engine (e.g. Google).

How To Protect Yourself from Scams

People will try to get you to give them money in return for nothing.

 If it is too good to be true, it probably is.


 Research before sending money to someone or some project. Look for information on a
variety of websites and forums. Be wary.
 Ask questions when you don't understand something or it doesn't seem right.
 Don't let fear, FUD, or FOMO win over common sense. If something is very urgent, ask
yourself "why?". It may be to create FOMO or prevent you from doing research.

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