- It safely stores your private keys ,and keeps a record of your transactions
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A bitcoin wallet
-> stores our private keys
-> initiates and signs our transactions
-> broadcasts our transactions
-> reads the blockchain
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A bitcoin wallet will generate a public and private key. When generating a new transaction a bitcoin wallet will sign it with the private key then broadcast the transaction to the network where all the nodes will either accept or reject the transaction. If the transaction is accepted it remains unconfirmed until a node that is also a miner decides to add the transaction to the blockchain.
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- A bitcoin wallet holds the private keys that have access to your UTXOs. A wallet is also able to create and sign transactions. Also they can broadcast a message and read the blockchain.
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Wallets are where private keys are stored. When you want to send or receive funds, your wallet creates a transaction using your private key. The private key is used to sign the transaction. It is then broadcast out to the nodes in the network to be verified by a miner. Once it is added to the blockchain by the miner, it is considered verified. It is stored in the blockchain throughout all nodes in the network. The blockchain notifies you once a transaction is verified if you are receiving funds from someone else.
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Yes Alko89 you are right. I did not mean it in that sense. I expressed mt self wrong. What I mean is that your wallet hold your private keys with which you can construct and sign tx with.
- Describe in short what a bitcoin wallet does.
A bitcoin wallet actually only saves your private key, it saves the transactions that passed in the blockchain. So no coins are exchanged the only thing that was transferred is what the blockchain knows, for example I have sent 1BTC to ivan and it is written in the blockchain like that. The wallet just keeps my private key, signs the transaction.
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1. Describe in short what a bitcoin wallet does.
A bitcoin wallet holds your private keys, creates and signs transactions, broadcasts them to the blockchain and reads the blockchain. No coins are stored on the wallet
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Describe in short what a bitcoin wallet does
A bitcoin wallet stores your private key, it is used to sign and verify a transaction.
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- A bitcoin wallet holds your private key and is used to create your public key. it is also used to create ,sign and broadcast transactions.
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A bitcoin wallet is a program that has ability to construct transactions, sign transactions and broadcast to the network, it also has your private keys.
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A bitcoin wallet stores private (and public) keys. It doesn’t store coins.
With the exception of paper wallets, a wallet can also receive and sign transactions (with the stored private key). Those signed transactions can then be send to a bitcoin node which will broadcast them to the bitcoin network to get included in a future bitcoin block. A online wallet might also be able to read the blockchain.
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A bitcoin wallet stores private keys, which are used to access your public bitcoin address and transaction signatures. The keys can be used to track ownership, receive or spend bitcoin. A public key allows others to make payments to the address derived from it, whereas a private key enables spending from that address by way of transaction digital signatures.
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a bitcoin wallet is an node, an spv which stores your private key, hold your crypto and create, sign your transaction
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There are different types of wallets, yet I will talk about one, the best! Let’s look at cold storage device, also know has a hardware storage/wallet. You might recognize it has the nano ledger.s there are others too. This device is the best way I believe to store your bitcoin. It generates your private key, and keeps it safe from hackers on the internet and or any other system you use to transact. It will digitally sign, produce public key when making the transactions, at same time never revealing your private key. Safest.
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Bitcoin wallet stores private key which is used to create digitalized signature to verify the transaction
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A wallet stores your public and private keys, creates transactions and signs them with your private key, and broadcasts your transactions to the network for validation.
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- Describe in short what a bitcoin wallet does.
A Bitcoin Wallet can create and store private keys.
It can create transactions.
Sign transactions.
Broadcast transactions to nodes.
Read the blockchain so it can verify your balance.
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- A bitcoin wallet holds your private key and it can be used to do transactions or to receive funds. When transacting the wallet will create a transaction and then will sign the transaction using your private key and then broadcast the transaction to the bitcoin network. When receiving fund your bitcoin wallet will query regularly the bitcoin network and notify you that you have new funds available.
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- Bitcoin wallet for example, allows you to make use of sending and receiving digital funds. It also allows you to hold your digital funds using a private access method. It consist of using Private keys belonging to only the recipient.
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