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What is Digital Wallets

Chapter 10
Advancements in Quantum Blockchain With Real-Time Applications
Software used to store cryptocurrency.
Published in Chapter:
Advancements in Blockchain Technology With the Use of Quantum Blockchain and Non-Fungible Tokens
Farhan Khan (Geetanjali Institute of Technical Studies, India), Rakshit Kothari (Geetanjali Institute of Technical Studies, India), and Mayank Patel (Geetanjali Institute of Technical Studies, India)
Copyright: © 2022 |Pages: 27
DOI: 10.4018/978-1-6684-5072-7.ch010
Abstract
Blockchain is a new but quickly growing technology in the world, which was developed by a pseudonymous Satoshi Nakamoto in 2009 as the cryptocurrency Bitcoin. Blockchain was un-hackable but now, due to use of quantum computers, it is possible to tamper with blockchain. As a counter to this, the researchers have come up with quantum blockchain using the principles of quantum cryptography. Today we see that the technology has given birth to many new technologies as well. One of its examples is non-fungible tokens (NFTs). These are a new sort of blockchain-based token that is unique and indivisible. They were first created in 2014. These are blockchain-based virtual assets. Since early 2021, the phenomena and its marketplaces have increased dramatically.
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Chapter 4
Wallets and Transactions
Digital wallets are electronic platforms that enable users to securely store and oversee their financial data, including credit card numbers, bank account information, and other payment methods, in a virtual version. These wallets provide electronic transactions, such as online purchases, mobile payments, and in-app transactions, without the requirement of actual currency or cards. Digital wallets commonly employ encryption technology to bolster security and may also offer supplementary functionalities like loyalty cards, coupons, and ticket storage. Notable instances are Apple Pay, Google Pay, and PayPal.
Published in Chapter: Wallets and Transactions; From: Decentralizing the Online Experience With Web3 Technologies
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