TkeyNet: how will the “transfer of funds” process work?

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We are nearing the transition to a new system, and it’s time to talk about “transferring funds” to the new distributed system TkeyNet. Let’s get right to the point. The “transfer of funds” procedure will be divided into 2 phases.

Phase 1: “Account Generation”

Soon, a specialized web interface will be released where you can generate an account.

On the secure page of the web interface, click the “generate account” button → the system will create random values using a cryptographic algorithm → you will receive private and public keys.

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A private key is confidential information and is only available to you.

The public key is your new tkey account in TkeyNet, where the assets will be transferred.

The private key will support on all types of interfaces: mobile wallet, web wallet, and other active products. This approach will eliminate “complex” operations and unnecessary actions.

The key-owner can easily import funds to any of the available wallets based on TkeyNet.

You need to save your wallet data: private and public key and then fill out a simple form by selecting the necessary category.

The specialized web interface will divide into two categories:

⬝ Users who store funds in TkeySpace;
⬝ Users who store funds in a local wallet on a PC. As well as owners of private keys in WIF format.

We also remind you that the “private-key” is confidential information, so we recommend that you make several copies of the key after receiving it and put them on USB storage. You can also print the private-key on paper. How you store the private-key— the choice is yours. The main thing is that you never tell anyone its value.

Phase 2: “Receiving’’

The second phase is the GUI releases. By this time, most or all of the funds will have a transfer to the distributed TkeyNet system.

You will only need to import the key to your preferred wallet: mobile, web, or any other available on the launch day.

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Thesis

  • Shortly, a dedicated web interface will publish where you will generate an account: a private key and a public key.
  • The public key is your new tkey account in TkeyNet, where the transfer of the asset.
  • A private key is a key that you used to access the assets in your Tkey account. The data of the private key is strictly confidential.
  • To get access to assets, download a new wallet: after the release of TkeyNet and specify the private key.
  • The “transfer of funds” form will be available until the end of 2020.

Afterword

The case is moving to launch. Each of you will be able to appreciate the new system and its features. Of course, the implementation of all functions takes time, and we will update the system in “real-time” mode.

What should I do now? — Support the team that works every day to launch TkeyNet. Let’s tune in to the positive wave and support the developers because the main burden falls on them.

Stay tuned! After the release of TkeyNet, there will be a lot of exciting things, including “advanced” information content and trading on the exchange.

Official TKEY blog in Medium. Infrastructure for the financial ecosystem

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