Blockchain Technology- Assignment 02
Harshal Vijay Umale
Roll Number:0052
BE Comp
Title: : Metamask Configuration
Date of Completion:
Problem Definition:
Create your own wallet using Metamask for crypto transactions.
Theory:
Metamask:
MetaMask is one of the more widely used wallets to store crypto on the ethereum
network, which you can also use to transact on the network- ie purchase NFTs, trade
crypto, etc. The wallet is a browser extension that you can install on firefox or
chrome. You can also have it as an app on your phone. In regards to web3 browsing-
Instead of having a user name/login, you connect your wallet which has a unique
public address.Websites or other decentralized applications are able to
connect, authenticate, and/or integrate other smart contract functionality with a user's
MetaMask wallet (and any other similar blockchain wallet browser extensions)
via JavaScript code that allows the website to send action prompts, signature requests,
or transaction requests to the user through MetaMask as an intermediary.
Configuring Metamask Wallet:
- Hit "Begin" and walk through the setup-wizard. Let's create a new Wallet!
- Create a new strong password. This password is used to encrypt your private keys.
Private Keys give access to all your Ether,soit is better have a strong password here.
- A backup phrase is used to ensure that the account can easily be backed up and
restored depending on the requirement.
- We are then greeted by the home page, that can be used to buy or sell crypto.
Conclusion:
Thus, we have successfully understood how to configure the Metamask wallet on our
devices , in a step by step manner!
