DAC Wallets ​

What is a Blockchain Wallet? ​

A blockchain wallet is a digital tool that allows users to store and manage their interaction with a blockchain network. Unlike a physical wallet, it does not actually store funds. Instead, it stores the cryptographic keys required to access and control your assets on the blockchain.

Core Concepts ​

1. Public Key & Address ​

  • Public Key: Think of this as your bank account number. It is derived from your private key and can be shared with anyone.
  • Address: A shortened version of your public key (e.g., starting with 0x... on DAC Chain). This is the destination you give to others to receive DACC coins.

2. Private Key ​

  • Private Key: Think of this as your PIN or password. It signs transactions proving you own the funds.
  • Critical: NEVER share your private key. Anyone with access to your private key can steal your funds. If you lose it, you lose access to your funds permanently.

3. Keystore File ​

In the context of the DAC Node, a Keystore file is an encrypted version of your private key protected by a password you define. It allows you to store your key more safely on your computer.

Custodial vs. Non-Custodial ​

  • Non-Custodial (Recommended): You control the private keys (e.g., DAC CLI Wallet, MetaMask). You are your own bank.
  • Custodial: A third party controls the keys (e.g., centralized exchanges).

Summary ​

To interact with the DAC Blockchain, deploy smart contracts, or send transactions, you need a wallet to sign these actions cryptographically.