Should the desktop wallet be online to mature ethereum coins?
Ethereum, like any other decentralized cryptocurrency, is based on a computer network worldwide, testing and approving transactions. This process is known as “mining” or “block reward”. In order for new coins to mature and add Ethereum Ledger, miners need to confirm transactions and create new blocks.
The desktop wallet for storing, shipping and receiving an ether (ETH) is an essential tool for any Ethereum enthusiast. However, many users are wondering if their wallet should be online for coins to mature. The answer lies in the world of cryptocurrency mining and the concept of “locking compensation”.
Why don’t you need online
When installing a new coin wallet on your desktop, you do not need to connect to the Internet all the time. In fact, most users can safely set their purse to use offline modes or automatically synchronization with network.
The process involves sending transactions to the Ethereum network and then using the “locking reward” to confirm these transactions. Locking compensation is a mechanism that stimulates miners to approve new blocks by rewarding them with the newly dried ETH coins. As long as your wallet is set to automatic synchronization with a network, you can use it offline.
How Automatic Synchronization works
When syncing your wallet with an Ethereum network using an automatic synchronization tool (such as Electrum or Myethherwallet), the following process takes place:
- Your wallet connects to the Ethereum network.
- The purse sets new transactions and sends them to the local purse address book.
- If the transaction is valid, the wallet confirms it using its own private key.
- When approved, the purse adds the transaction to the blockchain.
“Lock Rewards”
To illustrate how an online connection is not strictly necessary to mature coins, let’s check the concept of reward:
- Miners compete to create new blocks, solving complex mathematical puzzles.
- The first miners to solve the dough, add 6 new blocks in the blockchain and are rewarded with recently dried ETH coins (currently 15 ETH per block).
- Each subsequent miner must confirm at least 2 previous blocks before connecting its block, increasing the dough difficulties.
Conclusion
To sum up, your desktop Ethereum wallet doesn’t have to be online to mature. Automatic synchronization with network allows you to use your wallet offline and still get new transactions and updates on blockchain. The online connection is only needed if you want:
- Monitor your wallet balance in real time
- Update Blockchain local copy
- Use advanced features such as hot wallets or hardware purses
For most users, setting up their wallet automatically synchronizes with the network will allow them to use it offline and enjoy the benefits of decentralized cryptocurrency management without compromising security.
Tips on how to use your desktop purse offline
If you still want to ensure that the online connection is available on the local wallet or for other reasons:
- Use reliable offline purse with built -in automatic synchronization features.
- Consider using a hardware wallet that directly connects to the Ethereum network (eg ledger or Trezor).
- Save your wallet software and operating system for optimal performance.
By following these guidelines, you can enjoy the benefits of decentralized cryptocurrency management while reducing the risk of offline wallets.
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