Online wallets, as the name implies, are stored entirely online and are provided as a service usually via the cloud.
They provide a web interface to the users to manage their wallets and perform various functions such as making and receiving payments.
Types, Security, and How to Choose the Right One (Part 2)
They are easy to use but imply that the user trusts the online wallet service provider.
An example of online wallet is GreenAddress, which is available at .
Why This Matters for Blockchain Technology
Understanding Online wallets is not just an academic exercise — it has real-world implications for how blockchain systems are designed, deployed, and secured. Whether you are a developer building decentralized applications, a business leader evaluating blockchain adoption, or a curious learner exploring the technology, this knowledge provides a critical foundation.
Key Points to Remember
- Online wallets Online wallets, as the name implies, are stored entirely online and are provided as a service usually via the cloud.
- They provide a web interface to the users to manage their wallets and perform various functions such as making and receiving payments.
- They are easy to use but imply that the user trusts the online wallet service provider.
- An example of online wallet is GreenAddress, which is available at .
Conclusion
Online wallets represents one of the many innovative layers that make blockchain technology so powerful and transformative. As distributed systems continue to evolve, a solid understanding of these core concepts becomes increasingly valuable — not just for developers, but for anyone building, investing in, or working alongside blockchain-powered systems.
Whether you are just starting your blockchain journey or deepening existing expertise, mastering these fundamentals gives you the tools to think clearly about decentralized systems and make smarter decisions in this rapidly evolving space.