Decentralized Application (Dapp) - page 2.

joinfree

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Quote from: Jercyhora2 on November 05, 2019, 11:42:56 PM

I'm curious about storing our assets online, mostly online wallets. Do you think there's possibility the developer collect our address, especially our private key?
I usually store my coins on a paper wallet and we all know storing in a cold wallet is the safer way to secure all assets.
Do you think it's secure to import our address to an app? Is there any identification of a real decentralized application to trust our keys.

I understand your fears in trusting these crypto applications with your funds but sometimes we just can't do without them especially if you want to have access to your funds at any point in time. It will not be convenient enough to always be carrying your computer around in order to have access to your laptop lol hence you need to use popular and well-known blockchian applications such as Blockchain app, trust wallet or better still get to using hardware wallets such as Ellipal, Ledger etc.

blckhawk

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Decentralized Apps are pretty much safe since it's open-source, meaning the code is open for public, and any exploit that would get the users private keys would be known pretty much quickly by the people using it and having background on its programming language/framework. Paper wallets are still by far most secure, but also most volatile since if any natural calamities happen, it would be pretty much gone, for instance, a fire.

crwth

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Let's see if it's possible.

What is Dapp?
- It's basically a decentralized application running in multiple computers to verify transactions, etc.

Would the owners have access to your key?
- No. Probably the Public-key is the only thing they could get.
- Unless different attack vectors have compromised them, you are probably safe.

Quote from: Jercyhora2 on November 06, 2019, 02:22:49 AM

I'm not very familiar with smart contract and what can Smart contract can do to secure our assets

Basic rule. If you don't understand the terminologies and new technologies could offer, don't use it. You might regret it later.

Quote from: Jercyhora2 on November 06, 2019, 01:55:02 AM

I don't even know where or how to check source code. I mostly read app review instead

You know reviews can sometimes be bought, right? It could lead to other things you might not expect. I think you should be careful.

tinyteapot

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Quote

Do you think it's secure to import our address to an app? Is there any identification of a real decentralized application to trust our keys.

I do not think its secure for you to move your addresses to an app since we all know that there is no online wallet that is entirely secure, you may consider trezor hardware wallet if you are no longer comfortable with the paper wallet you are using at the moment.

I will not support any idea that encourages users to move wallets to any online wallet no matter how secure they may claim.

Jercyhora2

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Epsilon Omega

Quote from: lolgato1 on November 06, 2019, 02:17:06 AM

Are you kidding? It is decentralized, there is no way that exchange or any other DAPP will store your private key, you interact with a smart-contract, not with a centralized . Wink

I'm not very familiar with smart contract and what can Smart contract can do to secure our assets

Novatech8

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Quote from: Jercyhora2 on November 05, 2019, 11:42:56 PM

I'm curious about storing our assets online, mostly online wallets. Do you think there's possibility the developer collect our address, especially our private key?
I usually store my coins on a paper wallet and we all know storing in a cold wallet is the safer way to secure all assets.
Do you think it's secure to import our address to an app? Is there any identification of a real decentralized application to trust our keys.

Paper wallet is safer, be satisfied with what you have and stop looking for what can hurt you, if you don't like paper wallet then buy hardware wallet like ledger, do not use browser addons that claimed they are decentralized, they will steal your coins

lolgato1

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Are you kidding? It is decentralized, there is no way that exchange or any other DAPP will store your private key, you interact with a smart-contract, not with a centralized . Wink

Gotumoot

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The possibility is possible. Just like the wallet and all the centralized exchanges and at any given time they can steal our coins that they have because they are the holders of our private keys.

This is why many are reported to be losing funds in these exchanges as they are also made by those in control of our private keys. So we should not trust them immediately, It is better to withdraw our funds if we do not need to trade our crypto coins.

We should only hold our private keys because we cannot call them safe if they are placed on centralized exchanges and wallets that hold our private keys.

Jercyhora2

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Epsilon Omega

Quote

I'm curious why you still consider storing on online wallets and mobile apps when you already do it on paper wallets?
If you are having doubts about them, just get a hardware wallet.

Im only using paper wallet for long term hodl and online wallet app for trading because it's more convenient compare to paper wallet

zeze18

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Quote from: Jercyhora2 on November 05, 2019, 11:42:56 PM

I'm curious about storing our assets online, mostly online wallets. Do you think there's possibility the developer collect our address, especially our private key?
I usually store my coins on a paper wallet and we all know storing in a cold wallet is the safer way to secure all assets.
Do you think it's secure to import our address to an app? Is there any identification of a real decentralized application to trust our keys.

It depends on how trustable the app. If the app is secure enough, they will save our private keys in their database encrypted and they won't do anything with instead of just save it.
But don't ever import our our privatekeys into news apps that haven't tested the security yet, our wallet might be stolen then. And also any wallet websites and wallet providers never recommend us to login with private key because it's really sensitive to upload.

Jercyhora2

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Epsilon Omega

Quote from: DaMut on November 06, 2019, 01:43:25 AM

There is a possibility for a developer to collect our private keys if you do not check the code-source or using a private code-source. The best way to store our asset is in cold storage, do not move it if you are only holding it. The more you are using the internet, the higher the possibility for your wallet to get breached.
To identify a real decentralization wallet, you need to read the code-source. You can see everything about the application on the code-source, from the flow of work, security and many more.

I don't even know where or how to check source code. I mostly read app review instead

TanakabZX

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Quote from: Jercyhora2 on November 05, 2019, 11:42:56 PM

I'm curious about storing our assets online, mostly online wallets. Do you think there's possibility the developer collect our address, especially our private key?
I usually store my coins on a paper wallet and we all know storing in a cold wallet is the safer way to secure all assets.
Do you think it's secure to import our address to an app? Is there any identification of a real decentralized application to trust our keys.

Is it a must for you to import your private key into other wallet you knew nothing about? paper wallet is more safer than online wallet if you don't know i think you should, new wallets are dangerous and if you have to make use of them do your research based on the app reviews

DaMut

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There is a possibility for a developer to collect our private keys if you do not check the code-source or using a private code-source. The best way to store our asset is in cold storage, do not move it if you are only holding it. The more you are using the internet, the higher the possibility for your wallet to get breached.
To identify a real decentralization wallet, you need to read the code-source. You can see everything about the application on the code-source, from the flow of work, security and many more.

huu78

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Dapps are safe, but some do not, I've used Imtoken for 2 years and moved using a trust wallet for 1 year until now safe because they are decentralized reliably.
Different from the wallet in the chrome add-on or software application some of them keep our private key and suddenly take our balance. So I think Dapps is safe if choosing a good one like Imtoken and trust wallet.

Aabcde

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I think it's safe if you import privatekey to Dapps. Since it is called a decentralized app, it means no one can own it even the dev. All this time I have used Trustwallet, nothing has happened with my funds. If there really is a case of privatekey theft, I think it is a fake Dapps that is inserted by a keylogger.
For the characteristics of good Dapps I don't quite understand, but use Dapps that already have big names, that's all my advice.

Bttzed03

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Quote from: Jercyhora2 link=topic=5199031.msg52996096#msg52996096ate=1573015376

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Do you think it's secure to import our address to an app? Is there any identification of a real decentralized application to trust our keys.

There are open source non-custodial wallets where only you get to keep your private keys/seed phrase and check if there are some backdoors or some spywares in the code. Out of all the wallets/apps out there, Trust wallet seems to be the most popular. Some would also suggest Wasabi, Coinomi, and many others. For Bitcoin, there's also Electrum.

I'm curious why you still consider storing on online wallets and mobile apps when you already do it on paper wallets?
If you are having doubts about them, just get a hardware wallet.

Jercyhora2

member

Activity: 504

Merit: 23

Epsilon Omega

I'm curious about storing our assets online, mostly online wallets. Do you think there's possibility the developer collect our address, especially our private key?
I usually store my coins on a paper wallet and we all know storing in a cold wallet is the safer way to secure all assets.
Do you think it's secure to import our address to an app? Is there any identification of a real decentralized application to trust our keys.

Topic: Decentralized Application (Dapp) - page 2. (Read 246 times)