What is cold storage? - Crypto in Plain English - Episode 89 - by cryptohunt.it
Crypto in Plain English - by cryptohunt.it28 Tammi 2022

What is cold storage? - Crypto in Plain English - Episode 89 - by cryptohunt.it

What is cold storage?

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english.

Last time, we discussed how moving crypto keys into a hardware wallet can provide additional protection against hackers. A term commonly used for that practice is cold storage… but what does that actually mean?

Cold storage originally referred to the practice of freezing something, with the goal of preserving it for a very long time.

In crypto, the goal is the same. By storing the password to a wallet offline, the risk of its exposure through a hack is greatly reduced.

Do people print out passwords and put them in the freezer then? Probably not, but they do get pretty clever!

Hardware wallets are just one way to do it. But the hardware can malfunction. Printing is another way, but paper isn't protecting well against the elements. That's where products like the Cryptotag come in: it is a bulletproof titanium plate that you inscribe with a special tool for forever storage.

Interestingly, large exchanges such as Coinbase say that 98% of all customer funds are actually stored offline in cold storage. They only keep on hand what they actually need to operate with, while the rest is tucked away safely. How? They won't say for security reasons, but maybe there is a secret underground vault somewhere under the Arctic with a ton of titanium plates in it.

Disclaimer: This podcast references our opinion and is for information purposes only. It is not intended to be investment advice. Do your own research and seek a duly licensed professional for investment advice.

Jaksot(373)

The Pros and Cons of “Proof of work” and “Proof of Stake” - Crypto in Plain English – Episode 21 - by cryptohunt.it

The Pros and Cons of “Proof of work” and “Proof of Stake” - Crypto in Plain English – Episode 21 - by cryptohunt.it

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today we talk about the pros and cons of ““Proof of work” and “Proof of Stake” There are a few things...

26 Loka 20211min

What is “Proof Of Stake”? - Crypto in Plain English – Episode 20 - by cryptohunt.it

What is “Proof Of Stake”? - Crypto in Plain English – Episode 20 - by cryptohunt.it

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Last time, we explained how time-consuming puzzles are one way to solve the problem of cheating on th...

25 Loka 20211min

What is “Proof Of Work”? - Crypto in Plain English – Episode 19 - by cryptohunt.it

What is “Proof Of Work”? - Crypto in Plain English – Episode 19 - by cryptohunt.it

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today we explain how “Proof of Work” works. First, remember that cryptocurrencies validate transactio...

22 Loka 20211min

How crypto wallets work and which one is best for you - Crypto in Plain English – Episode 18 - by cryptohunt.it

How crypto wallets work and which one is best for you - Crypto in Plain English – Episode 18 - by cryptohunt.it

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today: How crypto wallets work and which one is best for you. Although they are called wallets, crypt...

21 Loka 20211min

The dark (climate) side of crypto - Crypto in Plain English – Episode 17 - by cryptohunt.it

The dark (climate) side of crypto - Crypto in Plain English – Episode 17 - by cryptohunt.it

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today: Crypto’s impact on climate change. Blockchain technologies – to the enthusiasts, they promise ...

21 Loka 20211min

How to create your own Web 3 product - Crypto in Plain English – Episode 16 - by cryptohunt.it

How to create your own Web 3 product - Crypto in Plain English – Episode 16 - by cryptohunt.it

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today: Together, we are creating our own fictional Web 3 product An example teaches more than a thous...

19 Loka 20211min

What is the web 3 movement about? - Crypto in Plain English – Episode 15 - by cryptohunt.it

What is the web 3 movement about? - Crypto in Plain English – Episode 15 - by cryptohunt.it

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today: We explain why everyone is excited about Web 3 To understand Web 3, let’s first talk about wha...

18 Loka 20211min

Why everyone has their own token - Crypto in Plain English – Episode 14 - by cryptohunt.it

Why everyone has their own token - Crypto in Plain English – Episode 14 - by cryptohunt.it

014 Why everyone and their grandma have their own token Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today: We explain why there are thousands of ...

15 Loka 20211min

Suosittua kategoriassa Liike-elämä ja talous

sijotuskasti
mimmit-sijoittaa
psykopodiaa-podcast
rss-rahapodi
ostan-asuntoja-podcast
rss-rahamania
herrasmieshakkerit
rahapuhetta
rss-laakispodi
rss-sisalto-kuntoon
rss-sami-miettinen-neuvottelija
leadcast
rss-lahtijat
rss-bisnesta-bebeja
rss-seuraava-potilas
sijoituspodi
rss-karon-grilli
rss-juurisyy-johtamisesta-kilpailuetua
rss-draivi
rss-johtoajatuksia