There are too many wallet applications in the Egfo ecosystem.

Question

There are too many wallet applications in the Egfo ecosystem.

It is really hard to keep track of these wallets. Which wallet should we send ergo or other coins to?

Why should we use that wallet?

How is one wallet different from another wallet?

Why are there multiple wallet applications?

Believe me, I am very curious about these and I am trying to understand them.

All of these wallets should be collected under a single wallet application. It should be seen how much coins are in which address in this wallet. Within the wallet, users should be able to stake or exchange coins. This can be an example of the old Coinbase or Blockchain wallet.

I think that the answers to these questions are also curious about many people other than me as a flat investor and miner.

#cryptocurrency #english #ergo

0

15.05.2024

4 ответов

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Şerafettin Bayrakdar Автор вопроса

kii L
Would sessions to answer questions like these help...

Стикер

0

17 дней назад

kii L

The beauty about wallets is that it doesn’t matter what wallets you use. All of them function the same, some with better UX and UI, some with extra functionalities. The core of how a blockchain works does not change. Wallets are products, and therefore the existence of multiple wallets are the existence of competition which is healthy. The underlying way they interact with blockchain stays the same. You can use many wallet applications, but still have the same address, and therefore when you use one address (note that I am not using the term wallet here to reduce confusion of it pointing towards an application) to send to another address. If the wallet application host your seed phrase which in turn creates the address, the amount will show up on that application in that address. Now regarding your concern about the confusion that is caused by the wallets. Which wallet application you should use, is up to your preference. For example, you can use a polo Ralph Lauren wallet, or a fossil wallet in real life. It’s really up to your choosing. How is one wallet different from another? Some physical wallet has rfid protection, some wallets have 10 pockets. Some wallet is small and minimal and only allow you to store cards. That is why wallet have different features. It allows the customers, us, to pick and choose what best suits our needs. In terms of ergo wallets, some features between different wallets would be, the Nautilus “brand” wallet is reliable and easy to use, it also has special feature like viewing NFTs. The Minotaur “wallet” is more complicated and “heavy” but has multi signature feature that is not offered in other wallets.

0

17 дней назад

Şerafettin Bayrakdar Автор вопроса

kii L
The beauty about wallets is that it doesn’t matter...

I will analyse this further.

0

17 дней назад

kii L · Accepted Answer

kii L

Would sessions to answer questions like these help?

0

17 дней назад

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There are too many wallet applications in the Egfo ecosystem.

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