- A bitcoin wallet holds your private key allows you to sign a transaction with it.
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A bitcoin wallet is responsible for storing your private key, signing your transaction with your private key, and sending out the transaction to the nodes in the blockchain. The wallet is also responsible for receiving transactions, in this case, it reads the full nodes in the blockchain multiple times to make sure it has the correct information and notifies you. There are SPV wallets on your phone, paper wallets, and hardware wallets.
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A bitcoin wallet stores the private key that is used to sign the transactions and to check the balance.
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Homework Assignment: Role of Wallets (Answers)
- The wallet allows storage of your private keys and blockchain. Which in turn is used to broadcast over the internet.
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A Bitcoin wallet stores your private and public keys and at the same time it can create a transaction for you
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Bitcoin Wallet:
Allows you to send and receive Bitcoin, will hold Private and Public keys.
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A Bitcoin wallet stores your private keys. It creates and signs transactions and broadcasts them to the network afterwards. In addition, it reads the blockchain to know about the current available balance.
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- A bitcoin wallet stores our private key to send or receive BTC via transaction signature
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1. Describe in short what a bitcoin wallet does.
the bitcoin wallet is a software program facilitate the management of bitcoin .the bitcoin wallet stored
the private key of the holder and permit sending and receiving bitcoin , there are 4 types of bitcoin wallet : mobile , desktop , web , hardware
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- Describe in short what a bitcoin wallet does.
A bitcoin wallet stores private keys, creates and signs transactions, broadcasts transactions, and determines if there are funds to spend by reading the blockchain.
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A wallet keeps track of your private keys.
It scans the blockchain to check if any of your addresses have received any bitcoin and it creates, signs and broadcast your transactions when you want to send bitcoin.
It also presents the blockchain (your balances and transactions etc.) in a way that is easy to comprehend for a human being.
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It stores your private keys and allow your to sign transactions.
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It stores your private and public keys
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A wallet stores your Private key & in some cases your public key. They can also store the entire blockchain on them in the case of a node or only part of the blockchain in the case of hardware wallets & SPVs. A wallet can even simply be your private key written on a piece of paper. In the case of Nodes, SPVs & hard wallets, they sigh & broadcast transactions & review the blockchain. Hardware wallets also never disclose your keys to any other devices.
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Bitcoin wallet holds your private and public keys.
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A Bitcoin wallet is software that stores your private keys and can send and receive transactions.
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wallet stores your private key, it creates and sign transactions, boardcast transactions into blockchain and read transactions from blockchain
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Describe in short what a bitcoin wallet does.
It stores your private keys. Broadcast transactions to the network , you can sign transactions (signature) and also generate a public key. Can calculate(sum) your funds.
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Describe in short what a bitcoin wallet does.
A BTC wallet stores private keys, not coins
When we want to send funds it create signs
When we want to receive funds, it reads blockchain
Everybody has the same database whith how much money they have
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A bitcoin wallet holds your private keys and signs transactions so you can spend your funds
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