- Describe in short what a bitcoin wallet does.
Hold private and public keys
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Wallet can store private keys and also translate a private key to a public key to enable transactions. It can also sign transactions and read information from the blockchain
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1 it is a tool for people to connect with bitcoin blockchain
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Bitcoin wallet stores private key with which you sign your transaction before broadcasting it.
That’s the way, every other node in the network knows that it is you who sent this request and then they can propagate it.
If your private key is compromised, then you will lose your coins or anyone can easily steal your coins.
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Describe in short what a bitcoin wallet does.
A wallet stores the privates keys. It can sign a transaction with the private key and broadcast the transaction to the network.
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Describe in short what a bitcoin wallet does.
-A bitcoin wallet hold your private key, has the ability to create signed transaction and brodcasting it to the other computer on the network that have a blockchain able to approve or deny the transaction.
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- A bitcoin wallet allows the owner to send and receive transactions. The wallet does not store bitcoins, it stores your private key and reads the blockchain and in that way it knows how much bitcoin you have
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- Describe in short what a bitcoin wallet does.
A Bitcoin wallet stores your private key, you can create and sign transactions. The transactions will be broadcasted to the network.
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The wallet stores your private keys and use those keys to sign transactions
The Bitcoin wallet store your private keys or seed and is used to sign transactions.
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Describe in short what a bitcoin wallet does.
A wallet stores your private keys and signs your transactions. It will broadcast transactions to nodes on the blockchain network and will also notify you of money you’ve received. Wallets do not actually store anything – the digital money is attached to the private key, so as long as you have this you have your money.
Private keys can be stored in a full node or SPV (i.e. a mobile wallet), or even on a piece of paper which is immune to hacker attacks because it exists entirely offline.
To keep your private key safe from hackers (offline) while also allowing you to easily spend your Bitcoin, you can use a hardware wallet (like a USB) that does not communicate your private key with your internet-connected computer. The only messages received by a hardware wallet are requests to provide a digital signature and all that goes back to the computer is the signature itself, which is created from but does not contain the private key.
“Hosted” wallets are not really personal wallets – they are apps or interfaces that connect to the real wallet that contains the private keys, which is being administered and controlled by a third-party, such as an exchange. There have been cases of exchanges closing down and running off with client keys/funds.
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Bitcoin wallet broadcasts and listens to the blockchain. In other words, wallet can produce transaction by broadcasting to the blockchain and signing transactions with the private key or receive money by listening to transactions using its public key. It does not really have any balance on it.
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A bitcoin wallet stores your private keys, creates your public keys and send or receives transactions.
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Wallets send and receive Bitcoins, hold private and public keys.They create and sign transactions. They broadcast and read transactions.
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A bitcoin wallet stores private and public keys. It signs transactions using the private key and then broadcasts them to the bitcoin network. It then reads the blockchain to confirm your transactions.
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Don Michelin - Questions
- A bitcoin wallet stores your private and public key, signs transactions (with private key), broadcasts the transactions to nodes/miners, and then can read the blockchain.
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A bitcoin wallet:
creates and stores your private keys
creates and signs transactions
broadcasts transactions to the network
reads the blockchain and notifies wallet holder of funds
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Describe in short what a bitcoin wallet does.
A wallet holds a private key. Using the software provided with the wallet one can create and sign transactions and broadcast them to peers on the network where they get validated and confirmed to the blockchain. The wallet has an address and the broadcast it sends is the address, the transaction details, and a signature (created with the private key).
A wallet can also receive a transaction from the blockchain (actually it can query the blockchain and it record confirm the transaction is confirmed on the blockchain).
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- A Bitcoin wallet stores your private keys. It can create and receive transactions via your public key and sign transactions. It is either a full node or and SPV that has to query a full node.
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A bitcoin wallet stores the private key that access the bitcoin network to carry out transactions.
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