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Author Topic: How can I identify Decentralize wallet?  (Read 144 times)
bp124
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October 11, 2019, 01:01:29 PM
 #1

Am using Decentralised wallet that supports both bitcoin , ETH and all ERC 20  Token. But whenever I sent ETH from my wallet to a different wallet. A transaction always sent to the company smart contract address before it forwards it to the mean address. Does that mean they have access to my wallet or their wallet is not fully decentralized as they claimed it to be? I need support from you guy to understand this Issue..     

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October 11, 2019, 01:19:14 PM
 #2

Am using Decentralised wallet that supports both bitcoin , ETH and all ERC 20  Token. But whenever I sent ETH from my wallet to a different wallet. A transaction always sent to the company smart contract address before it forwards it to the mean address. Does that mean they have access to my wallet or their wallet is not fully decentralized as they claimed it to be? I need support from you guy to understand this Issue..     

Which wallet are you using?

I think this is the nature of the contract for that token. I've seen this with other tokens, where the contract address auto fills when sending to a recipient after you put their address in to the send to field. The tokens then move to the proper wallet address when sent.

My take is that there's nothing for you to be concerned over.

 
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October 11, 2019, 03:11:10 PM
 #3

Yes, it is possible that this is a property of a smart contract. However, I would like to receive more information about this wallet from you.
Perhaps you could give us a link to the transaction hash so that we can take a look at this in more detail?
I suppose there is nothing to worry about, but it would still be interesting to parse your case.

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October 11, 2019, 03:52:36 PM
 #4

Am using Decentralised wallet that supports both bitcoin , ETH and all ERC 20  Token. But whenever I sent ETH from my wallet to a different wallet. A transaction always sent to the company smart contract address before it forwards it to the mean address. Does that mean they have access to my wallet or their wallet is not fully decentralized as they claimed it to be? I need support from you guy to understand this Issue..      
Kindly drop the name of the wallet you use so we can give our opinion, but base on what you experience its look like you dont really own the wallet and you use only 3rd party wallet .

To kNow if you really have full control of your wallet make sure you can have the private key.
Are you using multy currency wallet something like coinomi?
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October 11, 2019, 03:53:09 PM
 #5

Because the wallet supports LTC and ETH at the same time, the wallet needs to use smart contract to differentiate the transaction.
it is very normal for you to see that because the wallet uses cross-chain transaction, they do not have access to your wallet because the transaction is executed automatically.
and the smart contract works a bridge to connect it.

that might be wrong because we might be talking about something different, you should have told us first what wallet is it.
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October 11, 2019, 04:14:34 PM
 #6

I think it's a natural thing, because every transaction we make on a wallet, there will definitely be a record of evidence that we can see, with that we can know whether our transaction was successful or not, and the company from the wallet platform clearly does not have access to our wallet, if you may know what wallet you use?
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October 11, 2019, 04:26:38 PM
 #7

Am using Decentralised wallet that supports both bitcoin , ETH and all ERC 20  Token. But whenever I sent ETH from my wallet to a different wallet.  A transaction always sent to the company smart contract address before it forwards it to the mean address. Does that mean they have access to my wallet or their wallet is not fully decentralized as they claimed it to be? I need support from you guy to understand this Issue..     



You mean "transaction fees" are sent to the company's address or a special address? 

Well, I guess the decentralized exchange is charging you transaction fees which is normal. Would you mind mentioning the name of the decentralized exchange? You have to be sure it's a real decentralized exchange and not owned by patient scammer who is hoping to disappear with your fund when it becomes big enough.
   

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October 11, 2019, 04:45:01 PM
 #8

I think it's a natural thing, because every transaction we make on a wallet, there will definitely be a record of evidence that we can see, with that we can know whether our transaction was successful or not, and the company from the wallet platform clearly does not have access to our wallet, if you may know what wallet you use?

I am using HubrisOne wallet  https://www.hubrisone.com/ they have a lot of security features like fingerprint and facial recognition. I have never lost a single Dollar using this app. I have access to both my BTC and ETH private keys.  But I want to know if the company have access to my account or not. check this smart contract to see what I am talking about https://etherscan.io/tx/0x0ac1c7aba4d4a7c9fe09a51133d352af0b67695a03201c443f45a4cd63ca46d0..

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October 11, 2019, 05:58:54 PM
 #9

I think it's a natural thing, because every transaction we make on a wallet, there will definitely be a record of evidence that we can see, with that we can know whether our transaction was successful or not, and the company from the wallet platform clearly does not have access to our wallet, if you may know what wallet you use?

I am using HubrisOne wallet  https://www.hubrisone.com/ they have a lot of security features like fingerprint and facial recognition. I have never lost a single Dollar using this app. I have access to both my BTC and ETH private keys.  But I want to know if the company have access to my account or not. check this smart contract to see what I am talking about https://etherscan.io/tx/0x0ac1c7aba4d4a7c9fe09a51133d352af0b67695a03201c443f45a4cd63ca46d0..
ok this explain it all.
Hubrisone is a 3rd party wallet and have their own exchange using that wallet you are able convert your balance to other currency or even in fiat.
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October 11, 2019, 06:14:19 PM
 #10

I think it's a natural thing, because every transaction we make on a wallet, there will definitely be a record of evidence that we can see, with that we can know whether our transaction was successful or not, and the company from the wallet platform clearly does not have access to our wallet, if you may know what wallet you use?

I am using HubrisOne wallet  https://www.hubrisone.com/ they have a lot of security features like fingerprint and facial recognition. I have never lost a single Dollar using this app. I have access to both my BTC and ETH private keys.  But I want to know if the company have access to my account or not. check this smart contract to see what I am talking about https://etherscan.io/tx/0x0ac1c7aba4d4a7c9fe09a51133d352af0b67695a03201c443f45a4cd63ca46d0..

Where did you read that HubrisOne is a decentralized wallet? Offering security features like fingerprint and facial recognition doesn't make a wallet decentralized, decentralization means that you own the private keys or seed phrase of your wallet. HubrisOne is a regular online wallet like Coinbase with an internal exchange platform. Whenever wallet offers you to make an account with username and password, it implies that you are using dummy account and real custodian of your asset is wallet itself, not you.

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October 11, 2019, 06:33:14 PM
 #11

Decentralized world? Another buzz word?  Cheesy
There are 2 types of wallets: Cloud wallets and HD wallets. If you want to own your cryptocurrencies, choose HD wallets.  Wink


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October 11, 2019, 06:55:10 PM
 #12

this does not mean that someone has access to your wallet. it’s just that way a smart contract works. you are safe while your private keys are safe

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October 11, 2019, 07:11:14 PM
 #13

You need to look for private keys or words, but it is even better for the code to be open to analyze the code.

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October 11, 2019, 07:12:08 PM
 #14

of course the developers have all the data. when you apply to the Bank you are asked for a passport and know how much money you put or transferred (and certain agencies, too). here, the information only from the developers and is no longer visible to anyone.
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October 11, 2019, 07:21:59 PM
 #15

The point is, if you work with a third party, of course, they will know your data access, but if you are careful about using your intended wallet and also maintain your private key properly, I think your assets are safe. but as far as I know, Hubrisone wallets still have a lot of BUGs and frequently update their wallets.

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October 11, 2019, 07:26:16 PM
 #16

Well, as long as you have a private key and password you are safe and nothing to worried about. Just only a smart contract you are not giving your account details. I highly recommend using MEW or Metamask wallet for the ethereum base because that is safe.
Indeed, here is the link how works smart contract, https://www.howtogeek.com/350322/what-is-ethereum-and-what-are-smart-contracts/

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October 12, 2019, 02:42:50 PM
 #17

I think it's only natural that I have sent tokens both from my own wallet or from the exchange and sometimes they send to another address first and then send it to the address that I'm going to.
but after I saw the address, it didn't even receive a token kit. it's like a transit place and then send again to the destination address.
Your wallet is still safe because no one can access it.

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