Address Types
Understanding Wallet Addresses 🔍
Walletium is a completely new kind of ecosystem where powerful functionality meets simplicity. Our project aims to create a hybrid tool that brings together users, crypto, and fiat in one place, offering an all-in-one interface that makes blockchain technology easy to use.
Different types of addresses are necessary to suit the various tasks users need to complete.
For example:
Sometimes, a user needs an address just to monitor a balance.
Other times, a one-time Deposit address can be required for a specific purpose.
In some cases, a permanent address is necessary for ongoing use.
For operations directly on the blockchain, special Shared addresses might be required.
Each task requires a specific type of address to handle it effectively.
Walletium ecosystem is built around three main types of addresses—Native, Deposit, and Master—which are central to how the system works. Let’s start with a general overview, beginning with the addresses as its key elements.
A crypto address is a unique identifier on the blockchain, similar to a phone number or email address but with one key difference: it is fully decentralized and accessible only by the person with the corresponding private key. A wallet can contain multiple addresses, each potentially holding different types of assets. Within a wallet, you can manage all associated addresses and their respective assets.
Each address is made up of two key parts:
Public Address: Used to receive crypto, safe to share with others. Displays balance and transaction history publicly (see blockchain transparency).
Private Key: A secret code that grants control over your assets. Ownership of the private key determines access over the associated address and its assets (see private key management).
So each address in your wallet has 2 main parameters - blockchain and key storage type.
Public Address vs. Private Key
Public Address A public address is a string of characters typically ranging from 26 to 42 characters, depending on the blockchain. It’s safe to share since it only allows others to send funds, not access them. The public address is derived from the private key and exists on the blockchain as a destination for your assets.
Private Key The private key is a randomly generated, 64-digit hexadecimal number that gives full control over the wallet's assets. Whoever holds the private key owns the associated address and, therefore, the funds it holds.
Our backup system ensures you can easily recover your wallet, keeping your private key secure and ensuring your exclusive access to your assets.
How They Work Together
The private key generates the public key, which is then used to create the public address. The public address is shared to receive crypto, but only the private key can unlock the assets. This ensures that while anyone can send you funds, only the person who owns the private key can manage them.
Wallet Assets
Walletium Keyring Overview 📜
Walletium represents around 90% of all networks and tokens in the crypto market. It supports various blockchains such as Bitcoin (BTC), Ethereum (ETH), Binance Smart Chain (BNB), TRON, TON, and Walletium Chain. These addresses can store:
Stablecoins, which are tied to assets like the US dollar
Altcoins, TEX + other cryptocurrencies.
Your wallet reflects a copy of blockchain data, showing balances for each asset.
Except for custodial Walletium Native addresses, where assets are actively managed and can be stored, swapped, withdrawn, or transfered.
Last updated
