Ethereum: Can private keys be left in offline throughout your life?
As a novice Bitcoin and Ethereum, you are probably curious how these popular cryptocurrencies treat security. One of the aspects, which is often ignored, is the storage and treatment of private keys used for access and interaction of intelligent agreements at Blockchain Ethereum.
In this article, we examine that private keys can remain offline throughout your life, 3 assumptions that may be incorrect.
1. Assumption: Private keys are stored on blockchain
One of the general assumptions is that when he creates an Ethereum wallet or generates a bitcoin address, the basic blockchain stores a private key. This means that even if the physical device containing a wallet (such as USB drive) is lost or damaged, the private key itself is safe.
However, this assumption may be incorrect. From 2021, it is estimated that up to 30% of Bitcoin wallets lost or stolen from hacking or other malicious activities. This suggests that even if Blockchain stores a private key, it does not necessarily provide physical losses or theft.
2. Assumption: private keys are exposed
Another assumption is that private keys remain confidential and can only be achieved by official assets (such as the portfolio provider). This is not always the case. If you use a protected device with a password for storage Ethereum keyair or if someone gets access to the device, you can potentially get a private key.
In addition, if you are using a public key portfolio or a replacement that does not offer encryption of end points and authentication of two factors (2FA), the attacker can access a private key.
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Finally, some assume that as long as the at the base of the equipment is connected or connected to the network, the private key may remain offline throughout your life. However, this assumption is incorrect.
Even if you turn off the device or disconnect it from the Internet, a malicious actor can potentially use expploits such as USB -based attacks (such as using the infected USB drive) to reach the private key.
Application
While blockchain provides safe private keys to Ethereum, there is a legal risk for offline storage. These include physical loss, hacking, exhibition and malicious programs or other malicious actors.
To alleviate this risk, it is necessary to use reputable portfolio providers that offer solid security functions, such as 2-FA, end points encryption and safe tool storage solutions (such as a physical token or hardware portfolio).
To sum up, private keys can be sensitive, even if they are stored in blockchain. Remember these risks and take steps to protect the private key, regardless of its storage space.
Recommendations
If you are new at Ethereum or Bitcoin, consider the following:
- Use reputable portfolio providers who offer solid security functions.
- Turn on two authentication factors (2FA) on all resources connected to the wallet.
- Maintain the device and software on a regular basis with the latest security corrections.
- Consider the use of a safe storage solution, such as a physical token or hardware portfolio.
- Never store your private key online unless you need it.
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