One of the things we learned from our first day of beta is that we need to do a lot more education for anyone who isn’t using our one-click masternode setup. Cryptocurrencies have undergone a rapid Cambrian explosion of evolution in less than a decade, and even the language used to describe them is complicated and unhelpful. There are exceptions to every rule, so explanations have to be particularly careful in their phrasing and almost inevitably are more confusing than they should be. We will be releasing multiple videos in the coming day detailing click by click how to set up the beta on each platform, and diving into more detail. Also, we will be transcribing it into a post for people to easily follow. This will only apply to the beta as the released product will have an easy application and masternode setup.
A wallet is a file that holds one or more private keys, one or more related public keys, and many addresses. When you first run divid, it generates a new wallet with one randomly-generated private key in the data directory.
Private and public keys come in symmetric pairs and act as super-secret decoder rings for each other. A wallet starts with a random private key, generates its public key from that and then starts generating addresses from those keys as needed. It is critical to realize that those addresses belong to ONE those private/public key pairs and attempting to use them from a wallet without those specific keys will NOT work.
Once you run divid and it creates your wallet, you can find your first address by entering the following and pressing enter.
divi-cli getaccountaddress ""
This (divi-cli getaccountaddress) will return a jumble of characters that you must always get precisely correct. ALWAYS copy-paste cryptocurrency addresses!
The above command probably clued you into the fact that there is also, in Bitcoin-derived cryptocurrencies, the concept of an account. A wallet starts with a default account named “” (empty string) – but you can create as many as you want. Accounts are collections of addresses that must all belong to one private key -- and are claimed to be "helpful for accounting purposes."
Masternode set-up has its own necessary explanations -- and that is what we will discuss in the next post.
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