Ethereum is an open software based on blockchain technology with the
help of which developers all over the world create and deploy
decentralized applications. Ethereum is also a distributed blockchain
network like Bitcoin. Though both Bitcoin and Ethereum are based on the
blockchain, there are technical differences between them. In Ethereum blockchain miners mine to earn Ether Token, however, users
need Ethereum account to interact with Ethereum in any way.
Mist Ethereum wallet
Mist Ethereum wallet is the application which allows users to create and
manage multiple Ethereum accounts at the same platform. This is the
most simple way to create an Ethereum account. The application is simple
to use and when you will first launch the application it will guide you
step by step. The application syncs with Blockchain which means it will
download entire blockchain data along. This will take 100 GB which is a
big space, just a warning.
Install and launch the application
Create a password for your account. (Note: - Once the password is set,
you cannot change the password ever. Remember your password strongly.)
Once you set up the password, it
will take you to the account page. You can manage your whole account.
You can view your balance, contract, and linked accounts.
Click on the main account to find
the address of your main account. There is a hexadecimal string below
your account name. This string is your Ethereum account address.
To add another Ethereum account, click on add account.
Note:- You can get your public key
from your account. This is your public address which you can share with
someone to take ether from them.
Go Ethereum or GETH
This is another easy way to create an account. The process is quite
similar. You can download and install the Go Ethereum client. Launch the
application to create a strong password for your account. Remember you
cannot change the password or create a new one. Once the application is
launched you can view the public address of your account. This will also
allow you to create multiple accounts. All your accounts will be listed
in the application.
-Sending Ether from Ethereum wallet
-Log in to the account
-Click on send
-Enter the public address of the recipient
-Select the amount you want to sen
-Enter the password
-Send
The interesting thing here is, you do not have to have internet
connectivity to create an account. You can even create an account
offline. You must be a thing how it is possible.
In this process, we generate a cryptographic key which is a pair of a
public and private key. So if we create it offline, why do not we need
to register it somewhere? Maybe someone else is already using this key
pair. This sound true and technically possible however the probability
is highly impossible. There are three steps involved to generate a
public key. Firstly, we need to generate a private key which is a random
number of 256 bits. Then we create a public key which is of 512 bit. At
last, we calculate Keccak256 hash the of the public key. To get the
public address we keep the rightmost 160 bits. So basically the256-bitt
private key is mapped to160-bitt public key. The security of it lies in
the randomness of the key. As long as it is a completely random number,
it is highly improbable to guess and the be same.
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