Smart contracts on the Ethereum Blockchain network, as is known, have almost unlimited qualities. In this opportunity, we present you the personalized domains through the RIF Name Services, or RNS.
During the webinar UX & Blockchain: addresses and domains for personal use, from IOVlabs, the advantages of this type of wallets or Rwallets. Through them, Bitcoin transactions and a long list of tokens can be made.
In addition, a tutorial was offered to open a custom address. It should be taken into consideration that these types of addresses are aimed at the general public. But, specifically, they target the unbanked.
What is the difference between RNS and traditional wallets?
If we take as a referential example two types of wallets, the RNS on the one hand and that of Coinbase on the other, we will see similarities, the main one being that both work with the Blockchain network. However, there are differences that make the former easier to deal with than the latter.
Memory is one of the problems with digital technology. Forgetting addresses is one of the main causes of cryptocurrency losses. Imagine for a moment, explains the speaker, Sweet Villarreal, learn a wallet address with its 16 alphanumeric characters.
With the RIF Name Wallet, the addresses can be personalized, helping that, with a nick, you can mark, send or access your digital wallet. With this, unbanked people have a greater chance of becoming familiar with the Blockchain network.
This is one of the key points regarding the preservation of our money. In this case, the RNS wallets have all the security advantages characteristic of Blockchain.
In this sense, security can be shielded with the passage of the 12 words. With these types of keys, violation of an email address is practically impossible.
It should be considered that this type of technology of RNS wallets, based on the Blockchain technology of Ethereum smart contracts, inherits all the decentralized security qualities of Bitcoin.
Very novel applications
One quality that should not be overlooked at any time is that these platforms are very new. That is, they are in the testing phase with users, to test internal flaws or weaknesses in the programming in terms of speed and response capacity.
For this reason, these decentralized applications invite users to open their accounts and allow them to experiment with a variety of tokens that they have launched themselves.
Although we are aware of the security levels of smart contracts, we recommend caution and keep your cryptocurrencies in traditional wallets. This article is not a promotion of RNS wallets, but a strictly informative post.
Data to take into consideration
- With RNS wallets, accessing the Blockchain is not that complicated, nor is it necessary to memorize hexadecimal accounts, which considerably reduces complexity.
- Aliases are used, or nicks, in the wallet addresses, facilitating the massive use of new technology.
- RNS wallets inherit the decentralized nature and security of Bitcoin, according to its web portal.
- Low cost is one of the main characteristics that gives great advantages to RNS.
The information in this content has been extracted from reliable sources detailed below.:
1- Professional content management by the authors of CriptoTendencia.
2- External sources: Developers.rsk.co.