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I have just finished installing Swarm and I managed to follow the documentation. I created a new account using

  geth account new

and I connected using said account using the below line

  swarm -bzzaccount accountno

This left me a bit clueless as to the next steps

1) Is the Account I created a wallet on the main Ethereum network?

2) Can I set up swarm on a private chain using my chain ID?

3) My understanding of swarm is that it will be like Ethereum, only you dont store transacations, but you store literally anything. So a ledger can be a mass repository of any file of any kind? Are there principles of consensus involved, immutability and nonrepudation?

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1) Is the Account I created a wallet on the main Ethereum network?

You generated a private key. This key controls an account in the ethereum blockchain (but also many other blockchains too). For Swarm it is used as an address - an identifier of your Swarm node. In future, once payments are added to Swarm, this account (on ethereum blockchain) will likely also be your payment address, but for now it is just an ID.

2) Can I set up swarm on a private chain using my chain ID?

I think you misunderstand Swarm. You can set up your own private Swarm with its own network id and you con connect your Swarm node to a geth instance running any blockchain you like. The two are somewhat independent.

3) My understanding of swarm is that it will be like Ethereum, only you dont store transacations, but you store literally anything. So a ledger can be a mass repository of any file of any kind? Are there principles of consensus involved, immutability and nonrepudation?

Swarm is not a blockchain and it does not have a consensus protocol. It serves as a decentralised data storage and distribution network that lives alongside ethereum. The basic idea is something like: A dapp has its critical logic on-chain as well as a Swarm hash. This Swarm hash is used in Swarm to retrieve all the rest of the Dapp: html, images, javascript, videos etc. Swarm has built in integrity protection (by using content addressing) so any Swarm asset retrieved by hash is necessarily immutable. Mutability is achieved through the use of the Ethereum Name System.

See also https://m.youtube.com/playlist?list=PLM508daI9b1vdgM-5EaJyIjFxFvmAgWFM on how to get started.

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