Glossary

Common term definitions when using TaskOn are as follows

Web3 Wallet

In blockchain, a wallet is a digital tool that allows users to securely store, manage, and transfer their cryptocurrencies or digital assets. It typically consists of a private key, which is a secret code that proves ownership of the assets, and a public key, which is a public address that allows other users to send assets to the wallet.

Wallets can be categorized as hot wallets or cold wallets. Hot wallets are connected to the internet and allow for quick and convenient access to funds, but are generally considered less secure due to their exposure to potential hacking attempts. Cold wallets, on the other hand, are offline storage devices that offer a higher level of security but may be less convenient to access and use.

Wallets can also be specific to certain cryptocurrencies or may support a variety of digital assets. There are many different types of wallets, including desktop wallets, mobile wallets, hardware wallets, and paper wallets, each with their own advantages and disadvantages.

A number of wallets are now supported by TaskOn, including MetaMask, BitKeep, ONTO, Phantom, Mars, Petra Aptos, GameStop, and WalletConnect. Users should choose one wallet and then explore more.