Homework on Role of Wallets - Questions

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

A bitcoin wallet is designed to securely hold your private keys. The wallet signs transaction and then broadcast them to the network, your wallet reads the blockchain then verify what funds you have available.

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A bitcoin wallet is connected to the network and stores the private keys. It signs your transactions and broadcasts them.

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  1. Describe in short what a bitcoin wallet does?

A Bitcoin wallet is analogous to a physical wallet . However, instead of storing physical currency, the wallet stores relevant information such as the secure private key used to access Bitcoin addresses and carry out transactions. Types of Bitcoin wallets are desktop, mobile, web, and hardware.

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With a wallet you can send or receive, and store Bitcoin. Wallets contain a private key for security, the key corresponds to the address of the wallet.

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A bitcoin wallet stores a private key unique to the user to create and sign transactions. Thus verifying it is the owner making transactions.

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  1. Describe in short what a bitcoin wallet does.
    Signs the transactions using the private keys
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A bitcoin wallet stores your private keys which allows you to sign a transaction.

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  1. Bitcoin wallet basicaly sends and receives transactions (not actual bitcoins). It has its private key, it signs transactions with this private key, creates public key and reads your balance.
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A bitcoin wallet enables you to send or receive bitcoin. It stores your private key and enables you to sign transactions.

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Describe in short what a bitcoin wallet does.
A bitcoin wallet, stores private key information, and uses this to crytographically sign transactions and broadcast the transaction onto the bitcoin network.

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A bitcoin wallet holds your private keys. The wallet also tells you your balance. The wallet constructs a transaction and signs it. It is then broadcast to the network.

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1. Describe in short what a bitcoin wallet does.

A Wallet holds private keys, can create and sign transactions and broadcast to the nodes

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A bitcoin wallet stores private keys and sign transactions.

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Bitcoin wallet holds keys, constructs and signs transactions.

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A wallet stores your private keys. Signs transactions and lets you check your funds.

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A bitcoin wallet is utilized to store your private keys and create and sign transactions. In addition, this wallet is able to display existing funds that have not been spent.

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It stores your private key, it can sign transactions, it can broadcast transactions to nodes, it can read transactions from nodes or SPVs.

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A Bitcoin wallet contains your private key. Wallets come in several forms: A node is an internet connected pc with a specific app installed and the entire blockchain saved, an SPV is a web based wallet where the private key is stored on a server, a paper wallet is a private key written on paper where the key is entered manually to make a transaction and a physical wallet is where the private key is stored on an electronic device which does not physically connect to the internet.

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  1. A bitcoin wallet can send and receive your bitcoin. It stores your private key which basically is your digital signature to your bitcoin. It communicates with the blockchain.
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Describe in short what a bitcoin wallet does.
Wallets store private keys, create and sign transactions. Wallets broadcasts signed transactions to the bitcoin network. Wallets also notify key owners when funds are received

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