Homework on Role of Wallets - Questions

[DeyanG]

Describe in short what a bitcoin wallet does?
A bitcoin wallet is a way to store your private key. ti can be paper or digital, it can be software or hardware.

[ChloeN]

Bitcoin wallet stores private key, creates, signs and broadcast transactions to the blockchain, besides it queries the blockchain once it receives the transactions.

[Cryptek]

1. Describe in short what a bitcoin wallet does.
   -> Bitcoin wallet stores private key, create and sign transactions.

[marc_f2]

Stores private keys and creates public keys
Sends and receives transactions
Signs transactions

[dhealy7]

1. Bitcoin wallet is a means to store private keys so that transactions can be signed. On software wallets balances can be checked, but private keys are not required to check balances as balances can be checked on block explorer

[Zukies]

A bitcoin wallet stores your private keys so it can sign transactions, receive transactions, broadcast transactions and create public keys

[mchoeti]

1. Describe in short what a bitcoin wallet does.
With a Bitcoin wallet you can receive and send Bitcoins. This is secured via your private and public key combination. DO not share or loose your PRIVATE key. If you did one of those things all your funds are gone…

[rudyvasq]

1. Describe in short what a bitcoin wallet does.

     It is an app (contained on your computer, phone, external hardware wallet) that stores your private key.  It creates transactions (adds your digital signature) and receives transactions to/from the blockchain.  The wallet can also be a paper wallet which is only your private key written down.

[PaiviL]

A bitcoin wallet stores your private keys and uses them to sign transactions and checks your balance.

[Walter]

A wallet stores your private key. And your private key is used to sign transactions. So the wallet makes you able to participate in the bitcoin network. You dont hold actuals coins in the wallet. Your wallet is just an andress in the bitcoin database with a certain amount of money on it.

[BBB]

1. a bitcoin wallet is used to receive and send transactions using the private key. It stores and generate the private key for signing transactions and know your balance.

[Soza-7]

Bitcoin wallets store your private keys and is able to authorize transactions by putting your signature for you. it transfer the information to other nodes and the nodes notify a miner who can add blocks to the blockchain.

[Irishevolution]

1. A Bitcoin Wallet stores your private keys, creates and signs transactions and reads the Blockchain to notify you if any transactions. The wallet is basically a digital database that does store actual coins.

[Shawn_Wollenberg]

1. Describe in short what a bitcoin wallet does.

A bitcoin wallet stores your private key. A non-paper wallet will digitally sign your transactions and communicate with the network to check your balance

[tbaker]

A bitcoin wallet stores your private keys, creates public keys, signs transactions, broadcasts your transactions on the network, and determines your balance based on the blockchain.

[Konzaih]

-Stores your private key
-creates/signs transactions
tells you your balance since it does NOT store coins.

[Timbalasian]

A wallet allows transactions to be posted on the blockchain. It could be in the form of a Node, SPV, paper or a Hosted Wallet. Hosted Wallets are quite common, since it is app on the phone, but the owner doesn’t truly own the private key. The exchange, in this case, hosts the private key.

[Lemarkbull]

Bitcoin wallets, it is where you store your private key.

[Auksbon]

The bitcoin wallet stores your private keys and confirms transactions.

[porte01]

1. Describe in short what a bitcoin wallet does.

A bitcoin wallet stores your private key, creates and signs transactions, broadcast transactions to the network and read transactions.