Tab 1
Parth Amberkar BC-4 BE A/ 56
Experiment 4
Aim: Embedding wallet to demonstrate smart contract based transaction
Theory:
1. What is a Wallet? Types of Wallets
Wallet:
A cryptocurrency wallet is a software or hardware tool that allows users to store, send, and receive
cryptocurrencies like Bitcoin, Ethereum, etc. It manages your private and public keys, enabling you to
interact with blockchain networks securely.
Types of Wallets:
● Hot Wallets:
Connected to the internet, used for frequent transactions. Examples include:
○ Mobile wallets (apps on your phone)
○ Desktop wallets (software on your computer)
○ Web wallets (browser-based wallets)
● Cold Wallets:
Not connected to the internet, offering higher security for long-term storage. Examples include:
○ Hardware wallets (physical devices like Ledger, Trezor)
○ Paper wallets (physical printout of keys)
2. Differentiate Between Mainnet and Testnet
Aspect Mainnet Testnet
Purpose Real cryptocurrency transactions Testing and development
Network Value Real economic value and assets No real economic value
Tokens Actual tokens/coins Test tokens (free and valueless)
Risk Higher, involving real money Lower, safe environment
Use Case Live applications and trading Debugging smart contracts, DApps
Parth Amberkar BC-4 BE A/ 56
3. Write about Mist Wallet and MetaMask
Mist Wallet:
● An official Ethereum wallet developed by the Ethereum Foundation.
● Full node wallet: runs the full Ethereum blockchain locally.
● Used for managing Ether and interacting with decentralized applications (DApps).
● Heavy and requires downloading the entire blockchain.
● More suited for advanced users and developers.
MetaMask:
● A popular browser extension wallet supporting Ethereum and compatible chains.
● Acts as a bridge between regular browsers and the Ethereum blockchain.
● Stores private keys locally in encrypted form.
● Allows users to interact with DApps directly in the browser without running a full node.
● Lightweight and user-friendly, ideal for everyday users.
4. Types of Testnets Supported in Ethereum
● Ropsten:
Proof-of-Work (PoW) testnet, similar to Mainnet’s consensus (before Ethereum switched to
PoS). It’s a public testnet but can be slow and vulnerable to spam attacks.
● Kovan:
Proof-of-Authority (PoA) testnet maintained by the Parity team. Faster and more stable but less
decentralized.
● Rinkeby:
Another PoA testnet, maintained by the Ethereum Foundation. Used for testing smart contracts
and DApps.
● Goerli:
Cross-client PoA testnet supported by multiple Ethereum clients. Increasingly popular and
considered more reliable.
5. What is Crypto Faucet?
A crypto faucet is a website or app that gives away small amounts of cryptocurrency (usually test tokens
or very small real amounts) for free, often in exchange for completing simple tasks like captcha solving,
watching ads, or promoting a project. Faucets are commonly used to distribute testnet tokens to
developers and users who want to try out blockchain apps without spending real money.
Parth Amberkar BC-4 BE A/ 56
Implementation:
1)Connect to Sepolia Account on MetaMask.
2) Send Test Tokens via Sepolia Faucet.
3)Update of account after successful transaction.
Parth Amberkar BC-4 BE A/ 56
4)Go to Remix IDE and in the ‘Deploy and Transactions’ tab and change the Environment to ‘Injector
Provider-MetaMask’ and paste your MetaMask ID and connect.
Parth Amberkar BC-4 BE A/ 56
5)Create a file with ‘.sol’ extension and paste the code given below.
Parth Amberkar BC-4 BE A/ 56
6)MetaMask will Request to ‘Deploy a contract’ .Press continue to deploy.
Parth Amberkar BC-4 BE A/ 56
7)MetaMask will Request for Transaction.
Parth Amberkar BC-4 BE A/ 56
8) Go to Etherscan and check the transaction.
Parth Amberkar BC-4 BE A/ 56
9)Go to MetaMask and verify the transactions.
Conclusion: Concept of wallets in blockchain is understood very well
Shreya
THEORY:
1. What is a Wallet? Types of Wallets
Wallet:
A cryptocurrency wallet is a software or hardware tool that allows users to store, send, and receive
cryptocurrencies like Bitcoin, Ethereum, etc. It manages your private and public keys, enabling you to interact
with blockchain networks securely.
Types of Wallets:
● Hot Wallets:
Connected to the internet, used for frequent transactions. Examples include:
○ Mobile wallets (apps on your phone)
○ Desktop wallets (software on your computer)
○ Web wallets (browser-based wallets)
● Cold Wallets:
Not connected to the internet, offering higher security for long-term storage. Examples include:
○ Hardware wallets (physical devices like Ledger, Trezor)
○ Paper wallets (physical printout of keys)
2. Differentiate Between Mainnet and Testnet
Aspect Mainnet Testnet
se ryptocurrency transactions g and development
ork Value conomic value and assets al economic value
s l tokens/coins okens (free and valueless)
r, involving real money r, safe environment
ase pplications and trading gging smart contracts, DApps
3. Write about Mist Wallet and MetaMask
Mist Wallet:
● An official Ethereum wallet developed by the Ethereum Foundation
● Full node wallet: runs the full Ethereum blockchain locally.
● Used for managing Ether and interacting with decentralized applications (DApps).
● Heavy and requires downloading the entire blockchain.
● More suited for advanced users and developers.
MetaMask:
● A popular browser extension wallet supporting Ethereum and compatible chains.
● Acts as a bridge between regular browsers and the Ethereum blockchain.
● Stores private keys locally in encrypted form.
● Allows users to interact with DApps directly in the browser without running a full node.
● Lightweight and user-friendly, ideal for everyday users.
4. Types of Testnets Supported in Ethereum
● Ropsten:
Proof-of-Work (PoW) testnet, similar to Mainnet’s consensus (before Ethereum switched to PoS). It’s a public
testnet but can be slow and vulnerable to spam attacks.
● Kovan:
Proof-of-Authority (PoA) testnet maintained by the Parity team. Faster and more stable but less decentralized.
● Rinkeby:
Another PoA testnet, maintained by the Ethereum Foundation. Used for testing smart contracts and DApps.
● Goerli:
Cross-client PoA testnet supported by multiple Ethereum clients. Increasingly popular and considered more
reliable.
5. What is Crypto Faucet?
A crypto faucet is a website or app that gives away small amounts of cryptocurrency (usually test tokens or very
small real amounts) for free, often in exchange for completing simple tasks like captcha solving, watching ads, or
promoting a project. Faucets are commonly used to distribute testnet tokens to developers and users who want to
try out blockchain apps without spending real money.
IMPLEMENTATION:
