ANSWER: Bitcoin wallet is a “private key” of the “public key” at blockchain, with this private key you can have an access to the address and control the activity of funds, also might exist apps that can use/store the private keys and synchronize with blockchain and provide the control on funds.
Where are the funds stored?
a wallet stores your crypto’s private & public keys for you to sign when you want to spend your funds.an also displays your current balance from the blockchain Leger.
Bitcoin wallet stores your private key and sign transactions when you create any such transaction and then broadcast the transaction to other nods for verification.it stores also the public keys to enable others read your transactions.
Also when you receive money ,it will notify you that you have received a transaction
Why would storing public keys in a wallet enable others to read your txs?
1.-stores your private keys
-creates and signs transactions
-broadcasts these to the network
-reads blockchain and gives you notifications
stores your private keys and uses them to sign transactions
Describe in short what a bitcoin wallet does.
Helps you to hide your data for your private key or seed which you need for signing transactions, thus acting as mathematical evidence that it originated from the wallet’s owner. The signature will stop any hacker from tampering with the process once it has been issued…
- A bitcoin wallet holds a private key that signs transactions while transferring funds (bitcoin) to another wallet as well as it checks the available funds.
A bitcoin wallet stores your private keys. When you want to send funds, it creates and signs your transactions and broadcasts them onto the network. When you receive funds, it will read the blockchain and notify you alerting you to the receipt of funds.
A bitcoin wallet is an app that enables anyone who know’s the private keys stored in the wallet the ability to send and receive bitcoin and see the balance of any unspent transactions in relation to the wallets bitcoin address.
1.- Describe in short what a bitcoin wallet does.
1.R A bitcoin wallet stores your private keys and uses them to sign transactions.
- A Bitcoin wallet securely stores your private key and allows you to add your digital signature to Bitcoin transactions ensuring that those transactions are 100% secure and verifiable.
the wallets
- keep your private keys
- Create and sign your transactions
- notify you when you receive a transaction
Wallets store your private keys. Through the wallet you create transactions and then sign them with your private key to have them broadcasted on the blockchain. With your wallet you are also able to check your personal transactions assigned to your private key.
- Describe in short what a bitcoin wallet does.
- The role of a wallet is to store your private keys. Unless you are using a hardware wallet then the HW wallet is used as an extension of the software wallet to host the private keys.
- To send and receive Bitcoin.
- There are no coins stored in the wallet itself. Coin balances are stored in the ‘blockchain database’.
BTC Wallet - Stores your private key, allows you to send and receive BTC, creates and signs transactions then broadcasts to the network.
- Describe in short what a bitcoin wallet does.
A bitcoin wallet stores your private keys, the private key is used to create ,record and sign transactions. one private key generates one public key, this allows one to receive and send transactions.
Homework - Wallets
A bitcoin wallet holds your private keys. It uses the private key to sign transactions (coins you send to another address). It broadcasts those transactions to other nodes in the network to be included in the blockchain (ledger). A wallet also receives information (new blocks) from other nodes so it can accurately display the funds associate with your address.
It’s important to understand that there are no actual coins “in” your wallet, it simply stores the private key and accesses information on the blockchain.
A wallet stores your private key and can create and sign transactions. It also broadcasts the data to other nodes. It can read blockchain data from a node and notify you the updated balance after confirming a transaction.