This release of NanoWallet also has the updated fee structure for the upcoming fork at the end of this month. So if you try to use it today, your transaction might get rejected by the network for the fee being too low.
Can you explain that FORK? Thanks
The fork is to lower the fee for each transaction and it is due to happen at the end of the month. So, the nanowallet update is to be used after the fork as the fee stated in there is lower in value compared to the current one. Hence if you use it now, it won't get sent out. Fees are pre-calculated based on a formula.
There is a mistake in Jeff's post. Latest version is perfectly fine on Mainnet, a switch will change for new fees automatically at block 875000.
is there anywhere that proper explains the nano wallet for a noob like me? no idea if i should choose a simple a brain or a private key wallet ... i assume the last is what i need but what should the adress be? how long should the key be - 8 to 12 words? testnet / mainnet? thanks for helpin me out ...
- Private key wallet is to import an existing account. So you need to provide the account address and the private key.
- Brain wallet create a new account from a passphrase (using same passphrase will always generate the same account)
- Simple wallet creates a new account using a PRNG (Pseudo Random Number Generator)
Mainnet is the main network, addresses starts with
NTestnet is the test network, addresses starts with
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