- It stores the private and public key, which is used for transactions and verification on the blockchain.
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1. Describe in short what a bitcoin wallet does.
A wallet stores your private keys. It can create and sign transactions and then broadcast and propagate those transactions to the network.
When receiving funds it simply reads the blockchain and allocates funds into your wallet.
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It stores your private key and when you want to send BTC for examples it screates and signs the transaction. When you receives money to your wallet it will read the blockchain.
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A wallet for Bitcoin just stores the private keys of the owner to effect transactions
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The wallets store the private key and uses is to sign transactions in the blockchain
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- It contains the private key that is used to sign and create your transactions and broadcast them to the blockchain. It also reads the blockchain to inform you of your account balance.
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Storage private key, create public key, sign the transaction, broadcast the transaction and read transaction. There is no coins inside the wallet.
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A wallet is a store for your private keys, and is used to sign transactions. There are hot wallets, hosted wallets and hardwarewallets, the latter is the best.
On an exchange you coins ar not really in a wallet , but alle stacked together with a lot others.
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- Describe in short what a bitcoin wallet does.
- A bitcoin wallet generates a private key that acts as your signature for transactions on the blockchain. The private key then generates a public key that, in which later on bitcoin added a third step of the bitcoin address. You use this address publicly to receive transactions that you can use your private key to receive the funds.
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1 A bitcoin wallet store your private key hence being able to sign your transactions and then broadcasts it to other nodes.
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- A bitcoin wallet stores, send and receives transactions
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A bitcoin wallet stores your private keys and uses them to interreact with the blockchain, it can be used to crate and sign transactions.
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A Bitcoin wallet stores your private key and is used to send and receives transactions
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A bitcoin wallet is a way to store you private key , sign transactions and communicate with the blockchain.
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- A bitcoin wallet holds private keys and initiates transactions or signs transactions and sends instructions to the nodes for confirmation.
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a wallet uses your private keys to create a transaction and distribute it over the network. And if received, it alerts you when someone is moving funds to you. There are no coins in the wallets
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Storage of private keys, creates and signs transactions, then it will broadcast the transaction to the network when funds are received. It reads the Block Chain and notifies you that you have funds to spend.
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A wallet has the private key and signs transactions and communicates with nodes. A wallet doesn’t store bitcoins. It has just the information about your bitcoins. There a wallets, spv, paper wallets and hardware wallets.
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A bitcoin wallet stores your private keys, and you use it for transactions, in and out.
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A bitcoin wallet holds your private key. The private key is used to sign transactions and check BTC balance.
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