Homework on Role of Wallets - Questions

Blockchain and Bitcoin 101
#2950
  1. Describe in short what a bitcoin wallet does.

A bitcoin wallet has your keys, can sign transactions, can check the blockchain but unlike a physical wallet it does not actually hold any ‘coins’, only the blockchain ‘database’ has records of who has what amount of money.

Edit - can also construct and broadcast transactions

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#2951
  1. Describe in short what a bitcoin wallet does. Stores pvt keys, signs tx’s, broadcasts, and can read blockchains once online.
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#2952

A bitcoin wallet holds your private and public keys and it can send and receive funds from other wallets. The blockchain holds information about the balance of your wallet but there is no coins in the wallet.

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#2953

1. Describe in short what a bitcoin wallet does.
A wallet stores the private key(s) of a user which are neccessarry to access the blockchainand sign transactions. A wallet does not store any coins. There are different types of wallets: Full node, SPV, Hardware, Hosted.

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#2954

It is to store your private keys and sign the transactions

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#2955

A bitcoin wallet stores your private key and is able to creat and sign transaction, broadcast the transaction and read transaction. There is no coin in Bitcoins

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#2956

Describe in short what a bitcoin wallet does.
A bitcoin wallet store your private keys you will need to receive or to do a transaction.

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#2957

A bitcoin wallet store your private key and creates and signs transactions.

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#2958

Wallets store your private key to send transactions to the network and sign them.

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#2959

Stores the private key, allows you to send your unspent transactions.

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#2960
  1. A Bitcoin wallet stores your private key and uses it to sign transactions.
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#2961
  1. Bitcoin wallet accesses your private keys along with your public keys to buy or sell from.
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#2962

Describe in short what a bitcoin wallet does.

  • stores private keys
  • creates + signs transaction and broadcast transactions to the network
  • on receiving transactions: reads blcokchain and updates holdings
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#2963

A wallet stores your private key, and is used to create and sign transactions.

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#2964

A wallet stores your private key and is able to verify transactions

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#2965

We have different types of wallets and all of them with an exception of the hosted wallets storing your Privat Keys. There are no coins. The wallets create, sign and broadcast the transaction and also read the blockchain.

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#2966
  1. A bitcoin wallet doesn’t store any coins. It stores your private keys, requests transactions, and signs them using the private key. It also broadcasts the transactions to the nodes and reads the blockchain to notify you if you have/haven’t got enough funds for a transaction.
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#2967

it stores your private key which allow you
to use your bitcoin as you like
PAMP<3

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#2968

Homework on Role of Wallets

  1. Describe in short what a bitcoin wallet does.
    A wallet store your private keys (it does not store any coins, in fact wallets are just databases), it initiate a transaction by signing it with the private key, it broadcast the transaction to nodes (and than nodes send the transaction to miners) and ultimately, wallet read the blockchain and can notify you if you receive a transaction.
    Basically wallets are apps that can be installed on computers or mobile devices that interact with the blockchain and they does this things with exception paper wallets which is just to write down your private key on a piece of paper or some other tangible good and so they need to be imported in apps in order to make a transaction.
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#2969

A bitcoin wallet stores your private keys and also signs transactions.
I have a few questions,

  1. Is there a wallet that is safer than another?
  2. Are hosted wallets safe?
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