Homework on Role of Wallets - Questions

Blockchain and Bitcoin 101
#3371

Stores private key, creates and signs transactions.

1 Like
#3372

A wallet stores the owners Private Key. It does not store the coin.
Wallet is used to sign any transaction the owner initiates.
Wallet broadcasts transactions to the network (gossip protocol) where it is picked up and acted on by nodes.
Wallet watches the nodes to look out for incoming transactions.
Wallet, Hardware wallet, Hosted Wallet

1 Like
#3373
  1. Describe in short what a bitcoin wallet does.

A wallet stores private keys and uses them to sign transactions.

1 Like
#3374

A bitcoin wallet stores the private key which will be used to sign transaction.

2 Likes
#3375

A Bitcoin wallet creates a transaction with a stored private key, signs that transaction and broadcasts it to the blockchain.

2 Likes
#3376

The role of wallets store private keys, create, sign, broadcast, and read broadcast. Wallets do not literally store coins. Offline wallets such as; paper wallets and/ or hardware wallets store private key and query the blockchain offline.
Best Regards

1 Like
#3377
  1. Describe in short what a bitcoin wallet does.

A bitcoin wallet stores my private keys, and manages transactions by creating signatures for them, broadcasting them to the network and then also reading the transactions.

1 Like
#3378

A Bitcoin wallet is an application that functions as user interface with the network without running a full node. A wallet holds a users private keys and can broadcast and receive transactions to and from the bitcoin blockchain.

2 Likes
#3379

A wallet stores a privat key, creates + signs transactions, broadcasts transactions and reads the blockchain.

1 Like
#3380

A bitcoin wallet stores your private keys, and used that private keys to sign transactions.

1 Like
#3381
  1. Describe in short what a bitcoin wallet does.

Bitcoin wallet signs transactions and stores private keys

1 Like
#3382

The wallet is an app that gives users the option to migrate assests on a supported blockchain network. All the changes that the wallet app executes will be signed with the private key of the asset holder. The wallet’s capabilities are limited by the asset holder balance.

1 Like
#3383

It stores your private key and sign the transactions you make.

1 Like
#3384

A bitcoin wallet stores your private keys.

  • A private key can be used to sign transactions for sending out funds.
  • Your wallet also reads the blockchain and notifies you when you receive funds.
  • There are no actual coins in distribution. The blockchain calculates & syncs the balance in your wallet.
1 Like
#3385

1.) A Blockchain wallet can store the private and pubic key, sign a transaction with the private key, send the transaction to a differnt wallet, check nodes if funds are available and broadcasts the transaction to the network.

1 Like
#3386

A wallet holds PK, used to sign transactions and check balance.

1 Like
#3387
  1. Stores private keys, broadcasts transactions to the network and reads the network to update balances.
1 Like
#3388

A wallet stores your private key and signs transactions to be submitted to the blockchain.

2 Likes
#3389

easy-peasy it store the private key as will show balance regarding to what it is in the blockchain.

1 Like
#3390
  1. Describe in short what a bitcoin wallet does.
    A bitcoin wallet is an app used to transmit and receive bitcoin funds.
    It uses your private key to sign transactions and keeps your public key.
1 Like