The essence of blockchain is a decentralized database, cryptographically data composed of consecutive blocks, all transactions will go through in the blockchain block confirmation. The confirmed transactions will be recorded in the decentralized ledger on the blockchain.
Generally, blockchain wallets can be understood as tools for managing the private keys and keys of blockchain nodes. The blockchain wallet contains a pair of private keys and secret keys; When users transfer money, they need to sign with the key. This proves that the user has the right to use the wallet's output. Today's blockchain wallets are not only used for asset management, more applied to a public chain ecological service platform.
To meet the needs of the application, The WEN Eco ecological application is a multi-chain wallet built with hierarchical certainty (HD wallet) technology. Built-in two types of wallets, Cold wallet (blockchain wallet) and hot wallet (escrow wallet). A blockchain wallet is a wallet that users can create in the application by themselves, or enter the mnemonic words to bind the created blockchain wallet.
FAQ frequently asked questions ：
1. How to connect addresses of different blockchains in WEN Eco?
When a user creates a blockchain wallet in the WEN Eco application, a set of mnemonic words (mnemonic) composed of English words is given to the user. This set of mnemonic words is equivalent to the key of the blockchain wallet. As long as you are holding the set of mnemonic phrases, the wallet can be restored and any asset transfer operations can be performed.
2. What should I do if my mnemonic words/phrase is lost?
*After the mnemonic phrase is lost, it cannot be retrieved. It is equivalent to losing control of the blockchain wallet! Mnemonic is just another form of your private key. If someone else gets your mnemonic phrase, it is equivalent to mastering your private key, Therefore, the mnemonic phrase is equivalent to your bank funds transfer password. Do not disclose to others!
3. Why do I need to create a brand new blockchain wallet to use the WEN Eco application?
WEN Eco cannot directly embed addresses created in other applications into applications. If you want to participate in activities in the WEN Eco app, You need to transfer your assets to the blockchain wallet you created in the WEN Eco application. Then transfer them to the escrow wallet, only then you may participate in the activities launched in the App.
4. Can a WEN Eco account have multiple wallet addresses?
The account can create multiple blockchain wallets, and you may access your App to different blockchain wallets by binding it to a different set of mnemonic phrases. However, an account can only be bound to one set of mnemonic words (blockchain wallet) at the same time.