Mist is an Electron framework based application which is used for the management of Ethereum wallet and Ethereum applications. More specifically, it is a hybrid desktop application with a web interface to manage Ethereum DApps (Decentralized Apps). Mist is similar to a web browser like Chrome or Firefox, but a Web 3.0 edition.
Mist is an all in one software to manage all the assets and contracts of an individual in the Ethereum Blockchain. Mist can browse DApps, manage contracts, manage ether and other digital assets etc. It acts like a window to the Blockchain network and access different Apps and Services provided in the network. Mist is the official wallet to manage Ethereum cryptocurrency ‘Ether’.
Mist is being developed and maintained by Ethereum team and it is still in beta stage, hence it may have problems. It is recommended to use the latest and updated version of the official Git repository of Mist.
Mist installation is similar to any other software. Download the ‘Mist’ executable file appropriate to your operating system from Git repository and install it like any other application. Since Mist is a client based application, it has to download and save the entire Ethereum Blockchain to the local system. As of now, there is at least 5GB of data and it will increase as the chain grows. So the downloading and installation process is a big task.
Once the installation is completed you can open the application (See the figure above). Here the user can browse different DApps available for Ethereum Blockchain (Similar to an app marketplace), manage contracts, transfer asset, manage wallet and so on.
Mist wallet is the official wallet of Ethereum Blockchain so the Ethereum currency Ether is stored and managed with it. Since Mist can serve both as a wallet and asset management tool it is easy to engage in Blockchain transactions in Ethereum. Another advantage of using Mist is the security. The wallet is purely designed and developed by Ethereum itself not by any third party. Mist wallet provides two type of service namely ‘Simple Wallet’ and ‘Multisignature wallet’. In Both services, the users can manage their funds, ethers, as well as the contract in simple steps. But the ‘Multisignature wallet’ can provide some extra layer security to its user.
An important thing to note while using a Mist wallet is about syncing process. Always ensure that the entire Blockchain is synced with the local system. Incomplete syncing may invite critical problems during a transaction.