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TOKEN POCKET-ANDROID DOWNLOAD


WHAT CAN I DO WITH MY TOKEN POCKET?

token pocket is the native token of the Polkadot Network. token pocket can be
used for transaction fees, staking, governance, acquisition of a parachain slot
and for enabling several key functionalities on Polkadot.

1 token pocket: the minimum balance required to have an active account on
Polkadot Network. If your account balance drops below the minimum, your account
will be reaped. Learn more about Accounts and the Existential Deposit
requirement.

1 token pocket: the minimum contribution required to join a nomination pool and
earn staking rewards for contributing to the security of the network. Learn more
about nomination pools.

5 token pocket: the minimum contribution required to participate in crowdloans
for parachain slot auctions.

Around 20 token pocket:

20.258 token pocket: register an on-chain identity

20.064 token pocket: vote for council

20.008 token pocket: create a proxy account.

100 token pocket: the minimum stake required to submit your intent to directly
nominate validators.

326.979 token pocket: the minimum amount of token pocket required to become an
active nominator and earn rewards, i.e. the minimum active bond. To increase the
chance of earning staking rewards, your stake should not be less than the
minimum stake among the active nominators, which is a dynamic threshold. If you
have lesser token pocket than the minimum active nomination, please consider
contributing to nomination pools. Learn more about becoming a nominator.

200 token pocket: you can create your own nomination pool.

token pocket has utility in Polkadot's democracy. Bonding token pocket is a
requirement to create proposals, to endorse them and to vote on them when they
become referendums. Bonding 100 token pocket or 5% of requested funding is a
requirement to make a treasury proposal. token pocket can also enable you to
participate in programs like the Thousand Validators Program.


HOE TO USE UNDERSTANDING TOKEN POCKET

token pocket come in all shapes and sizes, but not all of them have the same
features. Some wallets only allow users to send Ether (token pocket) between
addresses, while others have more functionalities and even let users create
smart contracts, which are self-executing agreements written in code.

Setting up an Ethereum wallet often involves either downloading or writing down
a private key or seed phrase. Private keys allow users to send or spend their
crypto, and seed phrase gives them access to their wallet and all the private
keys in the wallet. Private keys or seed phrases are crucial for securing funds,
and a crypto wallet acts as a password manager for users' cryptocurrency
holdings. As long as users know their master password (the seed phrase), they
can access their crypto funds.

Storing private keys using third-party programs such as applications may seem
like an easy alternative, but malicious actors may access these services if the
users’ device is compromised because access to the keys means access to the
funds.

There are two main types of Ethereum accounts: externally owned accounts (EOAs)
and contract accounts. Externally owned accounts are made up of public and
private cryptographic pairs of keys. Public and private keys prevent forgeries
by proving that the sender genuinely signed a transaction. Because users use
their private key to sign transactions, it gives them control over the funds in
their account.

Users only have private keys (while never really holding cryptocurrency), so the
funds always lie on Ethereum’s ledger. The Ethereum ledger is a record-keeping
system that anonymously keeps track of individuals’ identities, token pocket
balances and a record of all valid transactions between network participants.

In contract accounts, a smart contract is deployed to the network. Each smart
contract has a unique Ethereum address controlled by the code.

Despite the above differences, both types of Ethereum accounts have four
characteristics in common: a nonce, balance, codeHash and storageRoot, as listed
below:

Nonce: For externally owned accounts, this number represents the number of
transactions sent from the account’s address. For a contract account, the nonce
is the number of contracts created by the account.

Balance: This token pocket address owns a certain number of Wei (an token pocket
unit of denomination), with 1e+18 Wei (exponential notation) per token pocket.
1e+18 Wei means 1 token pocket is equivalent to 1x1018 Wei.

codeHash: This hash represents the code of an account on the Ethereum Virtual
Machine (EVM). Ethereum’s own virtual computer, known as the EVM, is the part of
the protocol that actually performs transaction processing. The codeHash field
for EOAs is the hash of the empty text. For contract accounts, the code is
hashed and stored as the codeHash.

storageRoot: This hash is a Merkle Patricia tree’s root node (a tree of hashes).
This tree, which is empty by default, encodes the hash of the storage contents
of the token pocket account.

What is a token pocket?

A token pocket is a digital wallet that operates with multisignature addresses.
This means that it requires more than one private key to sign and authorize a
crypto transaction or, in some cases, that several different keys can be used to
generate a signature.

From a security perspective, it is vital that coins and tokens are stored in a
way that eliminates the risk associated with a single vulnerable point that can
compromise the entire wallet. If only one private key is necessary to sign a
transaction, this presents a major risk to your assets in case of theft or loss.

To mitigate this problem, it is best to use a wallet that needs more than one
private key for the authorization of transactions. Two, three or even more
private keys from different sources are sometimes required to create a signature
of a transaction. Many blockchains enable the creation of multisignature
addresses, and wallet providers and exchanges employ some version of a token
pocket to safeguard their clients’ funds.

MULTISIG WALLET ESSENTIALS

A token pocket uses more than one private key to authorize crypto transactions.

They can also be configured to allow each in the set of private keys to generate
a signature.

Holding private keys in different locations enhances security, while allowing
multiple keys to sign a transaction improves usability.

Commonly used types of token pockets:

n-of-n: Transactions require more than one key to be authorized. All keys need
to be used to create the signature. (2-of-2, 3-of-3 etc.).

n-of-m: Transactions require some of the keys, but not necessarily all of them,
to be authorized (1-of-2, 2-of-3, 3-of-5 etc.).

What is TRX?

The TRX Protocol, offers scalable, high-availability, and high-throughput
support that serves as the foundation for all decentralized applications in the
TRX ecosystem. It also provides compatibility for Ethereum smart contracts
through a pluggable smart contract platform. TRX launched its mainnet on June
25, 2018. This initiation was completed by the TRX Independent Group (TIG). TIG
is a community consensus-based group, consisting of 27 anonymous, volunteer
Genesis Representatives (GR).

How does it work and where can I get a TRX Wallet?

TRX is a base layer public blockchain OS, governed by a community with
democratic elections. 27 Super Representatives elected directly by TRX Token
holders uphold the values of decentralization by adhering to the popular
sovereignty of the token and the natural rights of the token. These 27 SRs
represent the community in order to run the network. The TRX network is run by
27 Super Representatives (SR). Based in different locations around the world,
the SR all have the same roles and computing power. TRX wallets are available
online but you can use Trust Wallet to store your TRX coins and many other
cryptocurrencies with our multi coin crypto wallet!

What is BitTorrent?

BitTorrent Inc. (owned by TRX) is an Internet technology company based in San
Francisco. It designs distributed technologies that scale, keeps intelligence at
the forefront, and lets creators and consumers in control of their content and
data. In the future, BitTorrent will issue its own tokens on the TRX network.

What TRX aims to solve?

TRX is dedicated to building the infrastructure for a truly decentralized
internet with blockchain technology in Greater China and across the World.

What are the features of TRX?

High-Throughput with 2,000 transactions per second (TPS) High-Scalability.
Applications are given a wide variety of ways to be deployed on TRX thanks to
its scalability and highly effective smart contract. High-Availability, with a
reliable network structure, user asset, intrinsic value and a high degree of
decentralization consensus leading to an improved rewards distribution mechanism
DPOS Consensus. The TRX network uses democratic voting to achieve a governance
structure for community autonomy.


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