Ethereum: Separate the wallets and share the same blockchain
While the world of cryptocurrency continues to grow, one of the most common questions about people, how to manage several Ethereum accounts on a single computer or device. The short answer is yes, it is possible to separate the wallets and share the same blockchain in Ethereum. However, there are certain boundaries and considerations that you have to be aware of before immersion into this world.
Understand the blockchain
Before we immerse yourself in the separation of wallets, we give a brief overview of what Ethereum Blockchain is. The Ethereum Blockchain is a great decentralized public book that records transactions in a network of computers. It is the underlying technology behind most cryptocurrencies, including Bitcoin and many others.
Separation of wall pockets with different private keys
To separate several accounts on the same computer, you have to create different private keys for each account. Private keys are used to sign transactions, to send Ether (Eth) and to save funds in your wallet. Since there are up to 100 unique addresses per wallet at Ethereum, you can use two or more wallets with different private keys to manage separate accounts.
Here is an example of how to create two items on the same computer:
- Create a new portfolio about Ethereum Explorer:
https: // Explorer.ethereum.org /`
- Use the “CreateWaddress” function to generate a new public address and a private key.
- Copy the private key and use it to sign transactions, send ether or save medium in your wallet.
Limits of separation of wall pockets with various private keys
Although the separation of portfolios with different private keys is possible, certain limits must be taken into account:
* Security risks : If a portfolio has compromised its private key, all accounts in connection with this portfolio can be assigned.
* Centralized control : By creating separate portfolios for each account, you have more control over who can access your funds and carry out transactions. However, this also means that a malicious actor has access to a portfolio that he can access all accounts associated with it.
* Transaction costs
: If you use different private keys, you pay the transaction costs twice – once when creating the new portfolio and again when sending the ether between the wallets.
Blockchain sharing: a more complex approach
In the past few months there has been a tendency to share the Ethereum blockchain with several users. This approach is referred to as “pooling” or “consensus dates”.
The members of the pool put together their IT resources to validate the transactions and add them to blockchain. In return for your participation, you will receive a share of the block bonus (currently 12.5 ETH) and transaction costs.
To use this approach:
- Join an operation pool from Ethereum Blockchain: You can search for websites such as Poolhub or Antpool for swimming pools.
- Create an account with the pool operator: As soon as you have been accepted in the swimming pool, you must create a new portfolio and reach the swimming pool network.
- Configure your wallet and connect it to the pool: Configure your wallet to use the private keys for transactions with the pool.
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However, note that the mutual mutual exploitation based in pool is still a relatively new technology and that there is concerns about energy consumption, security risk and potential weaknesses.
Diploma
The separation of portfolios via Ethereum or another blockchain requires a careful examination of security risks, centralized control and technical complexity. Although it is possible to create several portfolios with different private keys, the extraction of consensus based on the pool offers a more complex approach that can be an advantage for applications or large networks.