What is the Digital Wallet Code (What is the Digital Wallet Key)?

The digital wallet code is a password system used to store encrypted information, which allows users to manage their private keys through smart contracts. This security measure enables digital wallets to protect user identity and transaction privacy without the involvement of third parties. Therefore, when users need to use digital currency, they can generate a digital wallet address and set a private key for future login using programming interfaces like phone numbers or email addresses. These solutions are developed based on the collective security computing capabilities. (Chain News)

What is the Digital Wallet Key?

The digital wallet key is a method of password protection that securely stores users’ funds on non-custodial devices. The private keys of a digital cryptocurrency wallet are usually generated and stored by cryptographers in their systems and secured through cryptographic algorithms.

Due to the anonymity and tamper-proof characteristics of digital assets, users can identify and authorize themselves through setting private keys or mnemonic phrases. However, this does not mean that anyone can access their private keys. These technical principles are similar to traditional centralized methods: users need to use their digital wallet keys to enter other networks or transfer them to wallets under their control through third-party hardware management tools.