We live in a technological world that makes everything seem much easier, this also gives many technological companies access to our personal information and much more information we might consider private. This information is stored on various servers and clouds which are owned by such companies and connected to a server that they own and can easily be accessed by these companies.
This makes people very vulnerable as hackers are everywhere and can hack these servers and gain access to information we would prefer to keep to ourselves. The creator of the Apache webserver once stated that the first sin of the internet was centralization; he stated that the best way to deal with the cyberattack was to decentralize the internet.
Based on this, various scattered factions have begun to rise to attain that particular goal while using new tools and one of these tools is the blockchain technology that came with the bitcoin network, Ethereum is one of the technologies that erupted from this movement.
What is Ethereum?
While Bitcoin was created to get rid of banks and intermediaries in trading, Ethereum was created to get rid of third parties on the internet. These third parties include tools that store personal information, financial information, and much more.
Ethereum was formed correspondingly to Bitcoin; it is also run by volunteer coders all around the world and they operate via nodes which are also high powered electricity. Ethereum gets rid of third parties on the internet that stores data that belongs to people, it gives autonomous rights to users to store and delete whatever they want off the internet.
These cryptocurrencies known as Ether has widely gained acceptance in the crypto world, although some people are skeptical of it achieving its original purpose for which it was invented. But still, anyone can access Ethereum and this is achieved by owning a wallet.
What are Ethereum Wallets?
Ethereum wallets are places where you can keep your ethers and your private keys which give you access to owned ethers. Losing a private key can be disastrous because since the whole purpose of Ethereum is to completely replace intermediaries on the internet, there would be one to turn to for recovery of key.
There are various wallets in the crypto market that allows you to store your coin at little fees or no fee at all and a trader or investor in the crypto market can choose whichever they find convenient for them as it is available to everyone.
There are paper wallets which are a piece of paper where the public and private keys are printed on, this is safe as it is offline and easily accessible but can easily be stolen or misplaced. There is also the mobile wallet which is apps downloaded to the mobile phone and can be accessed easily on the move.
There is also the option of a desktop wallet where the user’s ethers are stored on the clouds and can be accessed from a computer with the private key and finally, there is a hardware ether where users can download their ethers into a portable device and then access them offline, these are considered the safest since they are offline and therefore, completely protected from any form of attack. Most of these hardware wallets allow you to back up and also add a password as well as two-factor authentication to fully protect your wallet,
How Does Ethereum QR code fit in?
Ethereum QR codes are specially designed codes that contain the public and private keys of the ether owners. QR codes are mostly used by paper wallets; these access codes are embedded in the QR codes and cannot be hacked as long as the owner keeps them safe.
Ethereum QR codes are pretty easy to use as they are secure and cannot be hacked in any way, they also help prevent errors. This is because wallet addresses are simply a series of numbers and letters and errors can be made when entering the codes manually. Ethereum QR Codes allow the wallet to automatically scan and decipher the embedded wallet address eliminating the problem of human errors.
Many companies who accept payment in cryptocurrencies are effecting the use of QR codes as a method of automated payment, this helps to eradicate errors. By simply scanning your private key on their sites, the amount to be paid is automatically deducted from the site. The Ethereum QR code can serve in the place of credit card information when making purchases and the best part is, true to the original purpose of Ethereum, the site cannot store the information embedded in the QR code.
How to Send and Receive Ethers with Euthereum QR Code
These QR codes can be used to receive and receive ethers on the crypto market, they are safe and secure. To receive this currency, an owner of the QR code can simply send the QR code on which his wallet address is embedded to the sender and the sender simply has to scan the QR code and then send the desired ethers. Any type of wallet has the option to scan this QR code and can then decipher the wallet address embedded in them.
Many online wallets are beginning to offer QR codes to its users where their address is embedded to make the confusing series of numbers and letters easy to access. There is the option of the QR code on every online wallet, a user simply has to click on the tab and then click my address to reveal his public address which the sender can simply scan or you can choose to send the address embedded in the QR code only
To also send Ethers, a paper wallet owner simply has to visit the cloud-based wallet where his ethers are stored. The user then has to scan the QR code containing the private key to gain full access to the ethers stored, the user can then send ethers by entering the wallet address of the receiver or also scanning the QR code containing the wallet address of the receiver.
How to Generate Ethereum QR Code?
Several websites offer the services of generating QR codes on their platform; these sites allow you to generate custom QR codes for your public address which you can send to various traders in the crypto market. The QR Code generated allows you to embed the logo of the currency you want to trade in, which is Ethereum in this case.
QR codes generated on these sites can either be downloaded as a picture and sent to any website, or it can be printed out and will serve as a paper wallet for the holders. Sites like Ethereum QR code generator allow users to generate Ethereum QR codes for free in other to easily make ETH payments. Also, it creates QR codes you can paste on your website to allow people to send you Ethereum.
Another Ethereum QR code generation site is Cwaqren.com which provides users with a link that takes them directly to the source code of the generator plugin. They offer privacy and do not keep logs or cookies that might store information provided on the site while generating QR code. Also, the site does not request for cryptocurrencies in exchange for its services to the crypto trader.
You can also create a QR code while opening a paper wallet on MyEtherWallet, this site requires you to download the Keystore file and then print the file on a piece of paper. This piece of paper will contain the public and private keys to your address, QR codes to scan them will also be provided on the paper printed.
Several other sites serve the purpose of generating Ethers online, you can simply use them to generate the QR code needed. It is advised though that when you use these websites, you go offline before generating a wallet address to prevent the website from transmitting the information to hackers on the internet.
Ethereum QR Codes were generated in essence to make payments even easier for the owners of those codes; they make the sharing of QR codes far easier and quicker. There is still the need to protect QR codes containing the private keys especially in the case of paper wallet; this is because this QR code gives full control of ethers stored to anyone who has it. Owners of paper wallets are thus advised to store their paper wallets in places where it can be trusted to stay hidden.
Some sites allow Ethereum QR codes to be generated and then embedded with the price the owner wants to send or receive. Ether owners however need to be careful with the sites which they use to generate Ethereum QR codes as most of these sites simply take the address provided and then hack the wallet, relieving the owner of ethers stored.
Anyone who wants to generate Ethereum QR Codes online should first try to check reviews on the software to confirm authenticity before using the site, this is a precaution to avoid cyber attacks and scam from any angle whatsoever.
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