Understand them in the context of the Maya Ecosystem
Navigating the complex world of digital assets and the technology that supports them is no small task. It involves understanding a multitude of concepts like keys, addresses, wallets and more.
Moreover, different blockchains and ecosystems can have specific terms to them. This guide will explain more about some concepts of the Maya Protocol that we had not talked about in the past, like interfaces and keystores. Let’s dig in…
We have talked extensively about wallets in our article about using crypto without handling custody of your funds. Overall, the term wallet typically refers to the software that manages your address(es) within the blockchain.
This time we would like to note the concept of a multi-chain wallet, which is capable of managing addresses across multiple blockchains. They typically derive the user addresses from a single set of mnemonic seed words.
Multi-chain wallet providers must develop or enable support for new blockchain technologies constantly. For instance, while Ledger and XDEFI support the $RUNE asset on the THORChain network, they do not yet offer support for the Maya Protocol blockchain.
A keystore file is a json/text file created through the encryption of seed words in conjunction with a user-selected password. When employing a keystore, the password must always be provided to decrypt the keystore. It can be viewed as a simple form of a “wallet”, or a seed phrase that is password-protected.
In relation to Maya, an interface is the software that serves as a bridge between a user wallet and the Maya Protocol nodes’ addresses. Users connect their wallets (e.g. XDEFI) to a Maya-enabled interface to interact with the protocol.
A notable example of an interface is El Dorado.
Software that combines a wallet and a user interface can be created to serve more complete purposes.
A good example of a wallet and interface combination is THORWallet mobile. This application functions as a wallet and also features a built-in interface to the Maya Protocol. On the contrary, the THORWallet web-app operates as a standalone interface.
Using a non-Maya enabled wallet (such as Ledger or XDEFI) with a Maya-enabled interface (like El Dorado or the THORWallet web-app) will not allow users to interact with the Maya blockchain since wallets are responsible for an address private keys and not the interfaces.
Now that you have a comprehensive understanding of the various elements and their interaction in the Maya ecosystem, we encourage you to participate and further your learning journey. Our robust and welcoming community is always ready to provide support and answer any questions you might have. Join the Maya Discord server and stay updated on the latest happenings. The Maya team is excited to have you on board!