Homework on Role of Wallets - Questions

Blockchain and Bitcoin 101
#2348

  1. Describe in short what a bitcoin wallet does.

    A bitcoin wallet stores your private keys which you can use to create and sign your transactions.

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#2349

A wallet stores the private key to create and sign a transaction.

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#2350
  1. A bitcoin wallet stores your private and public key. It interacts with the blockchain when you send and receive funds by sending your digital signature when you make a payment using your public key. If the nodes recognize your signature everyone receives the new copy of that database.
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#2351

saves/storages the PrivatKeys and only verifies/signs the transactions you make

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#2352

A wallet stores your private keys, creates a transaction and then signs it with your private key, broadcasts a transaction to the nodes and then receives the confirmed transaction after the miners confirm it and include it into the blockchain.

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#2353

it basically stores your private key so you can interact with the blockchain

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#2354

Describe in short what a bitcoin wallet does.

it stores private keys and uses them to create and sign txns and check funds.

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#2355

A bitcoin wallet stores your private key and can sign transactions and broadcast them and can query nodes for the state of the ledger, check transactions.

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#2356

A wallet is a device that stores your private key

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#2357

A bitcoin wallet will hold user’s private keys to bitcoin, allow them to sign transactions and view their balance

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#2358
  1. A bitcoin walket stores your private key and creates a public key from the private key. It uses the private key to digitally sign transactions. The walket broadcasts your transactions to the network and is also able to read transactions from the network.
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#2359

Wallets store your private key. They sign and submit transactions to the public ledger.

#2360
  1. Describe in short what a bitcoin wallet does.

A bitcoin wallet holds my private keys and communicates with nodes (miners) that up date the blockchain ledger with my transaction history.

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#2361

when you broadcast a transaction, first it will arrive in the mempool, not directly in the blockchain. Miners will eventually confirm your transaction from their mempool and add it into the blockchain

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#2362

A bitcoin wallet stores your private keys. Those can be used to sign transactions on the bitcoin network.

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#2363

it stores private keys and signs the transactions.

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#2364
  1. The bitcoin wallet stores your bitcoin and it doesn’t store any other coin. You make a transaction through the wallet with your private key that you own hopefully, it generates a public key that signs the transaction, it gets sent through the other nodes then to a new blockchain made by the miner where it is approved. it is highly secure if you can protect your private keys. there is your own wallet or there are apps that try to imitate a crypto wallet but they do not do it so efficiently. the safest way is to use a hardware wallet where the transaction is signed on the hardware and it is not accessible by the internet.
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#2365

handles the private keys, constructs , sign transactions, shows and brodcast

2 Likes
#2366

A wallet holds your public and private keys. It creates and signs transactions, then broadcasts to the network. It reads the blockchain.

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#2367
  1. Describe in short what a bitcoin wallet does

A wallet stores your private keys and generates your public keys. This means you can sign transactions and transmit them to the network using your wallet.

2 Likes