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Assignment2 BCT

Blockchain Technology Assignment

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13 views

Assignment2 BCT

Blockchain Technology Assignment

Uploaded by

rp7895798
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Laboratory Practice – III

Name : Chetan Anil Dabbe Roll No: 43


Class: BE Comp Group C: Blockchain Technology
Div: A Assignment:

Title: Creating wallet using MetaMask


Problem Statement: Create your own wallet using Metamask for crypto transactions.

Objectives:
1. To study the working and installation of metamask.
2. To study cryptocurrency.

Software Requirements :
1. OS: Ubuntu / Windows.
2. Chrome/Firefox browser

Hardware Requirements:
1. Active internet connection
2. PC
Theory:
MetaMask is a cryptocurrency wallet and gateway to blockchain applications, primarily used with
the Ethereum network. It allows users to manage their Ether and ERC-20 tokens, enabling
interactions with decentralized applications (dApps).
When a user initiates a transaction, they need to pay a fee in Ether, known as "gas." Gas prices
fluctuate based on network demand and complexity of the transaction, affecting the total cost.
Understanding how to install MetaMask and manage these fees is crucial for users to engage
effectively in the Ethereum ecosystem. This study aims to educate users on these aspects, promoting
better decision-making when conducting transactions.

Creation of wallet using Metamask:


Step 1: On the top right corner of chrome click on Extension icon and then Click on
Metamask
Step 2: Check I agree to MetaMask’s Terms of use and click on Create a new wallet.

Step 3: Create a password and check the checkbox and click on Create a new wallet.

Step 4: Then Click on Secure my Wallet.


Step 5: Click on Reveal seed phrase and save it somewhere for future use follow furthersteps
and verify your account by filling vacant seed phrase

Step 6: After verification you will see a window as follows and click on Got it:

Step 7: We have successfully created a new wallet using MetaMask.


Step 8: Now click on Ethereum Mainnet.

Step 9: Turn on Test Network and Select Sepolia.

Step 10: Click on https://cloud.google.com/application/web3/faucet and paste the public


address and click on Receive 0.05 Sepolia ETH.
Step 11: Go back to your metamask wallet and Ethers credited to your account.

Step 12 : You can send this ether to anyone just Click on Send button and paste the public
address of the receiver and Enter the ether and Click on Confirm.

Step 13 : Click on Speed up button.


Step 14 : Ether transferred Successfully.

Conclusion:
We have successfully created a new wallet using metamask and performed the crypto
transactions within two wallets.

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