Payment Protocol, Solareum Wallet and XSB
Solareum introduces a new feature: Syncing users' private keys to the cloud
Through understanding the questions that users often encounter during the past time, there are many people who have lost their wallets due to forgetting their private keys. Because you are the only one who can know and save this security key, it is extremely difficult to recover it if you forget even a single character. If you find yourself here, don't worry because Solareum has a solution for you by syncing users' private keys to the cloud. Then you can feel more secure when using non-custodial wallet
What are Crypto wallet and Private key?
It is essentially a place to store your cryptocurrency, it is used to send, receive money, and keep track of balances.
They are like a key to open a blockchain vault, without the key, it is impossible to open the vault. And without them, there would be no way for you to prove ownership of your crypto assets.
There are 2 main types which are Hot wallet and Cold Wallet
Check out this article to learn more: https://bit.ly/Simplify-Crypto-Wallet
This is a series of 12 or 24 words depending on which blockchain your wallet support. For example, with Solana blockchain, your private key (seed phrases) contains 24 words.
If you forgot any words, you can not recover your wallet and all of your assets are gone.
Private key is only used for software wallets such as Solareum, Sollet, Coin98, MetaMask, ...
What is Cloud Sync?
Cloud Sync (or sync to the cloud) is a new solution to security issues on Solareum. It is understandable that the data about assets in a wallet will be synchronized to the cloud data corresponding to the user's iCloud.
This is considered a new backup solution or is used when a user needs to access the wallet on another device but it is not convenient to enter the Passphrase or Private Key because it is surrounded by strangers. Cloud Sync was born to solve all your problems.
Bringing in outstanding advantages such as quick operation without revealing any confidential information, this is one of the features you should consider choosing with the main purpose still to keep your assets in the safest way.
Advantages of Cloud Sync
- Another backup alternative: If you're worried about forgetting your Password and Private Key and need to restore your wallet, Cloud Sync is a good choice.
- There are two cloud storage options: Drive Sync and iCloud Sync are both available through Cloud Sync. If you have an Android device and can't utilize iCloud, you already have Drive.
- Encryption capability: Cloud Sync will encrypt the wallet's Private Key and Password on the sync data file. After synchronization, you can check your Cloud account.
- Faster operation: All wallet backup processes using Cloud Sync are lightning quick, taking less than a minute.
- Safe and convenient: The data from your wallet will always be preserved on the backed-up account.
Is this safe to store data on Cloud?
The answer is yes because when you upload data to the cloud, it will not float in the sky but stay in a secret warehouse called the Data Center. They exist all over the world and have servers thousands of times more powerful than your computer to store and secure information. And only you have the right to access it or share it with someone
How to use Cloud Sync on Solareum
Step 1: Go to Setting → Crypto Wallet
Step 2: Click on back up and you are all done
To restore the wallet that you already back up, follow these steps:
Step 1: Open Solareum, chose “Restore wallet”
Step 2: Click on “Restore”
Step 3: Choose your favorite swap application → “Ok, I’m all set”
Step 4: Your wallet has been restored successfully
Check out this demo video for a better understanding:
Hopefully, this new feature will make it more convenient for you to store your private keys. Solareum will always listen to your opinions and develop in accordance with the needs of users. So what else will happen in 2022 with Solareum, let's wait and see 😎