Homework on Role of Wallets - Questions

A bitcoin wallet is an application that carries your private key used for “signing” transactions and broadcasting them to the blockchain.

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Wallet is used to store your bitcoin. It is basically a communication of funds between users and the blockchain.

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A bitcoin wallet stores your private key, creates and signs transactions, broadcasts the transactions to the network, and reads the blockchain to check your balance.

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There are no Bitcoins on a wallet, these are stored on the blockchain. The wallet only contains keys to access them :wink:

  1. A wallet stores your private key which is used as a signature that communicates to the blockchain. It represents whose money is whose and, used for transactions so that the blockchain knows ‘from where’ and ‘to where’, to move allocations of funds.
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stores private keys, allows you to create, sign, and broadcast transactions, as well as read the blockchain.

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  1. Bitcoin wallet stores private key, creates and signs transactions.
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Bitcoin wallet does not store coins but only store your private key, create and sign transactions and broadcast the transaction to the network.

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  1. Wallet stores your privat key, it creates and sign transaction with your privat key and broadcast a transaction in to the network.
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  1. A Bitcoin wallet stores private keys, creates, signs and broadcasts transactions on the network .
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A bitcoin wallet holds your private keys. It is capable of signing transactions for sending bitcoin and reading the blockchain for receiving bitcoin

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A bitcoin wallet hosts your funds away from the internet.

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Wallets create your private keys and allow you to sign transactions. Wallets can broadcast such transactions and also read data from the blockchain

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  1. Describe in short what a bitcoin wallet does.
    The Bitcoin wallet:
  • Stores your private keys
  • Creates and signs transactions
  • Broadcast transactions
  • Reads Blockchain
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A wallet stores your private key and signs transactions to be broadcasted & verified & added to blockchain. It does not hold any coins it simply signs via transaction so nodes can verify on blockchain & miners can add. They can be a full node, svm, paper, hardware, or hosted.

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A bitcoin wallet functions to store your private keys which are used to sign transactions that are sent from your wallet and then broadcasted to the blockchain where nodes seek to gather transactions and append them to the blockchain to confirm the transaction. These transactions are then broadcasted to the nodes on the network and are present on the blockchain.
Your wallet will not store your actual coins - the private keys are a tool used to unlock access to your funds to allow you to use them, and your wallet will also determine the fees associated with sending a transaction - larger transactions will accrue larger fees to facilitate the transaction.

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A Bitcoin Wallet stores your private keys ID, it has a private key address to confirm and be confirmed balances as you deal in crypto transactions conducted .

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It stores your private keys, it creates and signs txs, broadcast it to the network and reads the blockchain

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a bitcoin wallet stores your private keys and uses them to verify transactions being made on the blockchain.

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Answer:
A BTC wallet stores your private key, which allows you to buy/sell (receive/send) BTC by using the private key to sign the transaction, which can then be confirmed by nodes (and added to the blockchain by miners) within the network. The wallet does not actually hold digital coins just you sole ability to initiate transactions via the private key in a secure way…

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