First Blockchain transaction

Let's perform our first ever blockchain transaction. We will do this on MultiversX blockchain.

First, we need a wallet. Every access, read, write, execute, etc to the blockchain needs to be sign by you with a private key (a wallet).

To create a wallet simply run:

$ mxpy wallet new --format pem --outfile new_wallet.pem

Let's interpret the output:

$ mxpy wallet new --format pem --outfile new_wallet.pem
Mnemonic: bid blind field captain bar produce brush salute luggage double hole wonder meadow glass destroy giraffe auction square crush catalog knee lizard century nasty
Wallet address: erd1pfhel08mq6ucua005qgyvwq0el78ap3ytpcugy35yvqfdeq7afqsydkj3d

First, there is a mnemonic: 24 random words. These words are used to create your private key (wallet) at any time, so you must store them carefully. For now, this is only a test wallet, so just store them in a text file on your computer.

Second, we have a wallet address. This is our blockchain address.

Third, we have a new file new_wallet.pem that contains our private key (wallet):

$ cat new_wallet.pem 
-----BEGIN PRIVATE KEY for erd1pfhel08mq6ucua005qgyvwq0el78ap3ytpcugy35yvqfdeq7afqsydkj3d-----
NjM1N2UxOGQxYjBjMDk5ZjY1MzM2OWUxZGFiZGM3Mzg1Yjc5ZmY0ZWNlZTBiNWY5
NWFmNjE1MzZjZDMwODNhOTBhNmY5ZmJjZmIwNmI5OGU3NWVmYTAxMDQ2MzgwZmNm
ZmM3ZTg2MjQ1ODcxYzQxMjM0MjMwMDk2ZTQxZWVhNDE=
-----END PRIVATE KEY for erd1pfhel08mq6ucua005qgyvwq0el78ap3ytpcugy35yvqfdeq7afqsydkj3d-----