MOAC (MOAC), short for “Mother of All Chains”, is a China-based blockchain platform that seeks to be the “mother” of all cryptocurrencies and to enable crosschain atomic swaps between blockchains. MOAC has a multichain architecture, with microchains built atop the MOAC base layer. The base layer supports tokenization, and uses the microchains to decentralize block processing (sharding) and to handle smart contracts. MOAC uses a Proof-of-Work system that allows miners to mine the main chain and sub-chains. Mining can also be done from mobile devices.
Best 5 Wallet For Storing MOAC
1. Hardware Wallets
They represent the so-called cold wallets, meaning they operate offline – unless a payment needs to be made. Hardware wallets store your private keys on a storage medium, and usually connect to a computer via USB to make a payment transaction, after entering a pin. Easy to use with a high level of security. The best MOAC hardware wallets are Trezor One, Ledger Nano S.
2. Mobile Wallets
These don’t offer as much functionality compared to desktop wallets, however their convenience lies in the fact that you always have the wallet with you and can use it anywhere, e.g. to pay at a retail store. The best mobile MOAC wallets are Enjin Wallet, Blockchain wallet, MyEtherWallet.
3. Desktop Wallets
You can download and install these on your computer. They will only work and be accessible on this single computer. They are among the most secure wallets, unless your computer gets hacked or attacked by a virus. The best desktop MOAC wallets are Ledger Nano S, MetaMask, Blockchain wallet.
4. Online Wallets
Online wallets run on a server and can be accessed from any device at any location. They are the most convenient to use, but remember that your private keys are stored online and with a third-party – the probability of hackers’ attacks and theft is higher. The most reliable online MOAC wallets are Blockchain wallet, Coinbase Wallet.
5. Paper Wallets
Although it sounds strange or even funny to talk about paper wallets in connection with a digital currency, they exist – in the form of printed-out private and public keys. Because of their physical (and offline) nature, they provide a very high level of online security.
Tips for securely storing your MOAC
- Do your own research. Before sending any coins or private data to a wallet, make sure you have researched the wallet provider to make sure everything is above board. Keep an eye out for scam wallets, such as those using URLs only slightly different to the URLs of legitimate wallet providers, and check out some independent reviews for all the pros and cons.
- Back it up. Make use of your wallet’s back-up and restore facility so that if something ever goes wrong with your wallet, you’ll be able to recover your funds.
- Set a strong password. Now is not the time to be lazy when creating a password; take your time to create a strong and uncrackable code.
- Make use of all available security features. Make the most of all the security features your wallet offers, such as two-factor authentication or multi-signature transactions. It’ll offer increased protection for your funds and greater peace of mind for you.
- Update your antivirus software. Take care to regularly update the antivirus protection and anti-malware software on any device you will be using to access your wallet.
- Keep your private keys private. Last but not least, don’t underestimate the importance of your private keys. Store them somewhere safe and don’t share them with anyone else.