Homework on Role of Wallets - Questions

[Dominik_Szopa]

1. Describe in short what a bitcoin wallet does.

Bitcoin walet stores your private key, allows to create public key, allows to send transaction and receive. Its does not contains any coins.

[A.Mors]

A bitcoin wallet stores your private keys and uses them to sign transactions and checks your balance.

[cryptoHawk]

Describe in short what a bitcoin wallet does.
A Bitcoin wallet holds a copy of your private/public keypair and is able to send and receive transactions on your behalf with that keypair.

[magic-mike]

A wallet is a program that can read data from the blockchain (Your Bitcoin balance), it can be used to create and sign transactions. It also stores your private keys.

[kesha55]

Bitcoin wallet stores private key, create and sign transactions.

[Tbolts]

Stores Private keys, Create and signs transactions, able to view balances

[TONY79]

A bitcoin wallet hold your private key, interact to the nodes to inform you about your transactions.

[Hugo_Vieira]

A bitcoin wallet stores´private keys , and alows you to transfer bitcoin funds aswell as receiving.

[Dutchy]

A crypto wallet stores your private key, public key, signs and broadcasts transactions, reads the blockchain

[OhNo]

1.) 1. Describe in short what a bitcoin wallet does: A Bitcoin wallet holds your private keys and uses them to sign transaction.

[Anidez]

1. Describe in short what a bitcoin wallet does.

The Bitcoin Wallet only stores your Private Keys used for sign transactions.

The wallet doesn’t store money (coins), considering that Blockchain is a Database and in that database is where occurs the transaction, not in the wallet.

[Catalin]

Bitcoin wallet stores your private keys and creates transactions. It signs the transactions with the private keys before they are sent, and then broadcasts them to the Bitcoin network.

[dapp.coding]

Easy Peasy
An Electronic wallet can :

1. Store your private & public keys
   

   

2. Initiate a transaction by digitally signing it using the key, and also receive an external transaction.

Remember !
A wallet is, and only if, there is both a private & public keys and they both belong to you alone . Be aware of that, and especially if you store your assets in some random exchange platform app.

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[niore]

1. Describe in short what a bitcoin wallet does.

• stores private keys
• create tx and signs them
• broadcast tx to blockchain
• finds utxo to calculate the remaining btc balance

[Hash_Has42]

Bitcoin wallet is a private key containing your funds with a public key that communicates with bitcoin nodes/blockchain when you send/sign a transaction.

[Samtoshi]

Bitcoin Basics Lesson Homework:

Homework on Role of Wallets - Questions

1. Describe in short what a bitcoin wallet does.

Stores your Private Keys and with them completes a digital signature to when sending a transaction to the network.

[monstrosity]

1. Describe in short what a bitcoin wallet does. - it doesn’t not store your coins but your private key to sign a transaction.

[Hodlbot]

A Crypto wallet is a program on a Computer, on a device or in a Network that stores your private keys (it can also be a piece of paper with your written private key). You need the private key Ton check your balance or to transfer your funds.

[shadfurman]

Describe in short what a bitcoin wallet does

A wallet is a private key used to sign transactions and verify transactions sent to you, on the blockchain.

[Ana]

1. It stores your private key, create and sign transactions, broadcast the transactions to the network and reads the blockchain and notify you how much you have to expend.