Master Wallet
This page contains technical details of the Master Wallet mechanism of The Torq Network's app that may not make much sense to normal user and hence they can ignore this section completely.
List of Torq Network's Master Wallet Addresses on Different Chains/Networks
| Chain/Network | Wallet Address |
|---|---|
Ethereum (ERC20) | |
Binance Smart Chain (BEP20) | |
Matic (Polygon) |
What is a Master Wallet and it's function?
In any custodial crypto app, there are two types of wallets:
Custodial Wallet (User's Deposit Wallet):
Function: Deposit wallets are used for receiving and holding user deposits. When you transfer crypto to an exchange, it lands in your deposit wallet.
Ownership: These wallets are managed by the exchange, and the private keys are held by the exchange itself.
User Interaction: You can deposit funds into these wallets, but you don't have direct control over the private keys.
Master Wallet (Main Wallet):
Function: The master wallet (or exchange wallet) is like the central hub. It holds the collective funds of all users on the app.
Aggregation: When you deposit, your funds move from your deposit wallet to the master wallet.
Transactions: All withdrawals, and other transfers occur between the master wallet.
Security: The app manages the master wallet's private keys, emphasizing security protocols.
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