Describe in short what a bitcoin wallet does.
A wallet creates a publik key, private key and wallet adress, It signs transactions with yout private key.
A bitcoin wallet:
sends and receives bitcoin.
creates and signs transactions.
stores your private key.
broadcasts transactions.
- A bitcoin wallet can send and recieve transactions. It allso creates a privet key and a puplic key.
Describe in short what a bitcoin wallet does.
Hold and check UTXOs from private keys, allow to sign transactions and broadcasting it to the network.
A wallet holds your private key so you can sign the spending transactions. A wallet also shows you the balance.
A wallet holds/stores private keys, creates public keys, sends and receives transactions, signs transactions, broadcasts them to the blockchain.
Wallet stores private keys. Wallet does not store coins
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There are different types of Bitcoin wallets, but basically a Bitcoin wallet stores your private keys to sign transactions. It can also store a copy of the blockchain or query it from a full node.
Bitcoin wallet is a private key which are used to access public bitcoin key and transaction signatures
A bitcoin wallet holds your private key. Without your private key you can not generate and sign a transaction.You can use the wallet to sign transactions and send them to the database where they will be validated, or not.
A bitcoin wallet stores the address and the corresponding private key in the same place. Mostly the wallet will also contain software that makes it easy to sign and broadcast a transaction to the network and software that helps the user look up the “amount of bitcoin
in an address”. You can only ever sign a transactions from an address if you are in possesion of that adress corresponding private key.
Homework on Role of Wallets - Questions
- Describe in short what a bitcoin wallet does.
Wallets can initiate transactions
Wallet stores your private-key
A bitcoin wallet holds your private key which is used to sign transactions.
A bitcoin wallet will create your private key which is used to create and sign transactions.
Bitcoin wallet is an application of a program where ones private keys are stored in order to be able to do transactions of his/her assets. Broadcasts each tx to the blockchain.
A wallet allows a use to store his or her private keys. With those private keys it can also sign transactions.
A Wallet keeps my privat Key safe (no connection to the Internet at all) and verifies any transaction i want to make, as long as i sign it with it.
Describe in short what a bitcoin wallet does.
it allows users to store their private keys and it can be used to sign transactions and broadcast them to the network
A wallet stores private keys and uses them to sign transactions. Also checks block height and utxos
a wallet stores the private keys and signs transactions