Last week we covered digital wallets, a vital aspect of the Mula Platform, including MulaMail and MulaMessage. In this newsletter, we will be delving deeper into digital wallets, specifically discussing signing up for them, and how your passphrase is unrecoverable.
To sign up for your Mula Wallet and gain access to the Mula Platform, you will need to set up a username alongside a passphrase(A longer version of a password containing spaces) through a web browser or on your mobile phone, any other email or service.
We highly recommend you go with a username that matches your personality(If you plan to use Mula for work, we advise against both sexybabykittn and JohnPSmith), and a passphrase that is very strong.
In general, a strong passphrase should be longer than 10 characters, including symbols, numbers, and both lowercase and uppercase characters.
Once set-up the system will generate public and private keys for you. For now, all you need to know is that these keys are important and facilitate the encryption process behind your digital wallet. Without these keys, no one can access your account, or information.
We don't hold your keys, your funds, or your information; this means we can't access accounts, recover keys, reset passwords, or reverse transactions.
When it’s gone, it’s gone!
Due to our limited access to your information, we also cannot retrieve your data for you. If you lose your passwords, it's GONE.
That means the only way to restore your wallet or change your passphrase if you do not know it, is by manually or digitally backing up your backup phrase.
A backup phrase, also known as a recovery phrase, contains all the private keys in your wallet, allowing you (or anyone who has it) to restore your wallet.
Since the backup phrase, alongside your passphrase, act as the only mechanism to access your account, we highly recommend writing it down and storing it somewhere safe.
While that may sound a tad bit complex, in reality, it's a relatively simple process that can ensure the safety and privacy of your data.
Broken down into two sentences, signing up for your digital wallet will require a username, a passphrase, and a backup phrase.
This data cannot be recovered, and in combination, they will provide total control over your wallet to you.
Given that we use digital wallets as the basis of our identification system throughout the Mula Platform, you can rest easy knowing that you have total control alongside privacy and security with every associated Mula product.
With digital wallets mostly explained, and you hopefully prepared to store your passphrase and backup phrase in a very safe location, that's it for this week's newsletter.
Make sure to stay tuned for our next one on where we will be discussing private and public keys in depth.
Our current flagship product MulaMail is currently in beta testing and will be released for consumers soon.
Signing up for MulaMail reserves your Mula Platform username.
Due to the modular approach of the Mula Platform, you can activate one service without activating the others.
Register your Mula username today by clicking here.
If you’d like more information regarding the Mula Platform, you are always welcome to check out our website.
And as always, If you don’t have any questions, you might enjoy this delicious Spanish octopus recipe.
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