Homework on Role of Wallets - Questions

Blockchain and Bitcoin 101
#3150

Wallet stores your private key. When transaction to send is initiates it creates and signs transaction and then sends it to network. When you receive money wallet informs you, but no coins are actually stored, it reads this data in blockchain telling how much money you have

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#3151
  1. Describe in short what a bitcoin wallet does.

Bitcoin wallet stores your private keys. It will create and sign transactions then it will broadcast transactions to the network.

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#3152

A bitcoin wallet has:

  1. Both private and public keys
  2. No coins but does record tx and rx transactions
  3. ability to create and sign transactions
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#3153

A Wallet stores your private key and creates and signs your transactions. U can also send and receive crypto via a wallet.

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#3154
  1. A Wallet, stores you Private Keys. It is also used to create and sign transactions. It broadcasts transactions to the Network. Wallets can also receive funds by reading the blockchain and confirming the receipt of funds.
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#3155
  1. Describe in short what a bitcoin wallet does.
    A bitcoin wallet stores your private keys so that you can create & sign transactions.
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#3156

Bitcoin wallet stores your private key, constructs a transaction signs and broadcasts the transaction.

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#3157
  1. Wallet holds private key, signs transactions and broadcasts them to the network. There are different types of wallets: Full node, SPV, paper wallet, hardware wallet and hosted wallet. They are also split into hot or cold wallets (more secure as they are not permanently connected to the internet network and harder to hack)
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#3158
  1. Describe in short what a bitcoin wallet does.

Bitcoin wallet is where private keys are stored.

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#3159

Describe in short what a bitcoin wallet does.

A wallet stores private and public keys, creates and signs transactions, sends and receives transactions too and from nodes.

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#3160
  1. Describe in short what a bitcoin wallet does.

A bitcoin wallet stores your private and public keys, digitally signs transactions you send and reads the blockchain to determine your balance.

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#3161

A Bitcoin wallet holds private keys (not coins),

that are used to successfully make transactions.

That is: To sign transactions with your digital signature and checking the balance of your account with the blockchain network.

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#3162

A bitcoin wallet stores your private and public key, with which a person can initiate a transaction on the bitcoin network.

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#3163
  1. A wallet allows you to create, sign and broadcast transactions on the blockchain
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#3164

A Bitcoin wallet stores our private key, signs the transactions, checks our balance and informs us accordingly.

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#3165

A wallet has your private key, and is able to create and sign a transaction and then broadcast it to the blockchain.

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#3166

It basically stores your private keys. When you want to send funds it creates and sign the transaction and then broadcast it to the network. When you receive funds it will read the blockchain and notify you that you have funds to spent.

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#3167
  1. Describe in short what a bitcoin wallet does.
  • it doesn’t store any coins. It is an ecosystem of language, currency and protocol.
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#3168

A bitcoin wallet is a software program in which bitcoins are stored with your private keys to facilitate your transations.

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#3169

Stores private key to sign all out coming transactions and read bitcoin balance on chain. No bitcoin is stored on wallet.

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