Ethereum is quickly growing and evolving in the market. Coin Market Cap has reported that following Bitcoin, Ethereum Mist Wallet is the second largest market cap among Crypto-Currencies. Crypto-experts including developments and investors view Ethereum as a strong platform that ensures scalability and reliability.
What Is Ethereum?
This decentralized platform runs smart contracts (applications that act as designed and programmed without any possibility of inactivity, censorship, fraud or third-party interference. To run the distributed application platform, a fuel is required: ether.
This is a form of payment made by the clients of the platforms to the machines creating and implementing the requested operations.
In other words, ether is the incentive ensuring that developers create quality, high-value applications as well as maintain a healthy network of contacts where people are compensated for their contributions including resources and insights.
The Ethereum Mist Wallet
In order to store, accept and send ether, users need to obtain a Ethereum Mist Wallet. This feature is a go-to solution to users looking to get involved in Ethereum. While the initial blockchain sync may be a little time consuming, the rest of the process works smoothly and quickly.
In terms of safety, it makes sense to download the Mist wallet as it is the official Ethereum wallet, created by the same developers who are responsible for the Ethereum ecosystem.
While many other solutions utilize a third-party wallet, this feature is designed to put the user in complete control of their funds at any time—which is one of the most essential and liked features of the wallet.
The Ethereum Mist Wallet features two types of wallet solutions: simple and multi-signature. Its user-friendly interface makes it a convenient resource for users. Another fact to consider is that these users are desktop clients and need to download the Ethereum Mist Wallet onto their computers manually.
By also providing users with a multisignature wallet if they need an additional security assistance at any time.
One of the common complaints by clients that developers are currently looking to improve is the downloading component. Currently, users are required to download the whole Ethereum blockchain before they are able to utilize the Ethereum Mist Wallet. As the blockchain is very large and is currently growing, it can take significant time to download.
If users who would like to use Ethereum do not have a good amount of free hard drive space to synchronize with blockchain, they may run into problems when trying to download this platform. Additionally, the sync may happen automatically during the download.
However, sometimes the Mist can get stuck, which derails synchronization to a few days before reaching completion. Another issue that developers are currently working to address is that some users have claimed to lose money, while using the app as a result of the delayed syncing with the blockchain.
While this is not technically a loss of funds but the inability for users to see their transaction until the blockchain has been downloaded correctly, this may cause the user great unease.
The Bitcoin wallet has similar issues, especially for first-time users. However, the Ethereum Mist Wallet offers a great wallet solution for both new and experienced Ethereum users.
Downloading The Wallet App
If an Ethereum user is interested in the wallet app, there are version available for Linux, Mac OS X and Windows. For the Ethereum Mist Wallet to work, it has be connected with a running, fully synced Ethereum node. The Linux 64Bit, Mac and Windows 64Bit versions come with a bundled Ethereum node, the Golang implementation called “Geth.”
This user guide was created and targeted at non-technical users who want to avoid separately installing a Geth node. By downloading the Ethereum Mist Wallet, a full copy of the Ethereum blockchain will be synced onto the user’s computer, requiring almost 6GB of disk space as of January 2016.
Ethereum Mist Wallet 0.9.0 Release
Mist 0.9.0—the new version of the Ethereum Mist Wallet—is approaching, and it will not inject web3 object by default on Dapps as this is a measure to keep Dapps steady and stable on the long run as the Ethereum ecosystem further develops in the upcoming months.