Elrond Wallet

By iccel35 | Ali Olgun | 23 Jul 2019

A few years ago, there were very few volunteers working on the blockchain network. Today, the number of users has reached millions. As projects have been put on the market, there have been severe improvements in security, team, and bandwidth. Processing speed per second reached 10,000.
The Elrond project is at the forefront of this development. The modified consensus is used functioning of the network, such as BFT, which is called Proof of Purchase. In a coincidence group, the optimal size verifier is randomly selected. This randomly generated BLS and collection signature permission significantly reduces roaming communication from 5 to 2 because modified BLS signatures are used.

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The Elrond project was implemented by a team of experienced entrepreneurs working with Microsoft, Intel, Google, NTT DATA, CS&AI 2 PhDs, multiple maths, Cs and AI Olympic champions and 13 engineers and researchers with significant experience in the blockchain background. Therefore, the structure and construction of the project are based on knowledge and experience.

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As is known, wallets are one of the most critical issues in the cryptocurrency world. Wallets used as a means of value transfer and storage are required to be functional and secure. In this section, I would like to examine how to create wallets on the Elrond network and how to use wallets.
First https://testnet.elrond.com/#/wallet / going to address. A screen will come out that allows us to set a password to unlock our wallet. As a reminder, when we lose the password, it is written that we will not be able to reach the portfolio. After entering a password of at least nine characters, we will be asked to choose a way to save the JSON file on the screen that will be opened. A window will open where we will keep the record.

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When we go back to the wallet and press the’ Browse” button, the Json we just saved will ask for the file, and then we will be asked to enter our password. When we follow these steps, we’ll be in our wallet. We type the address of the ERD wallet we want to send; We type the amount in the second box. If our address is valid and our balance is sufficient when we press the ‘Send” button, the transaction will take place quickly. We can monitor the message and all the details of the shipment indicating that our purchase is in the approval process.