Homework on Role of Wallets - Questions

Wallets

  1. Describe in short what a bitcoin wallet does.

A Bitcoin wallet stores your private key, can create your public key, sign a transaction, and broadcast transactions. There are no coins inside your wallet.

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  1. A bitcoin wallet have store your private key which you can make transactions and receive transactions and it shows you the history of how many transactions you made and how many you receive. In a bitcoin wallet you can`t see the total of the coins.
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stores private key and sign transactions.

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Some wallets do sum up your UTXOs so you can see your balance. But they don’t store the coins. :wink:

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A bitcoin wallet securely stores private keys.

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A bitcoin wallet will store your private key, from which you can sign for transactions. A wallet will also read and interact with the blockchain.

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  1. Describe in short what a bitcoin wallet does.

A bitcoin wallet holds person’s cryptographic private keys and by doing so it has the capability of ‘‘signing transactions’’ with these private keys --> otherwise known as ''sending them" (creating and signing a transaction). Wallet software also queries the blockchain to see if the wallet balance needs updating.

“Money is the most universal and most efficient system of mutual trust ever devised.”

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The wallet store your private keys to sign transactions

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the wallet holds our private key and uses our signature for transactions.

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Stores private keys, creates and signs transactions then sends them to the network. It will read the block chain and notify you of the transaction.

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A wallet only stores Private Keys, which are used for transactions, no coins are stored.

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  1. Describe in short what a bitcoin wallet does.

Bitcoin wallet is keeping private and owner’s public & private keys.

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  1. Describe in short what a bitcoin wallet does.
    Stores the Private Key which is essential to sign transactions.
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1. Describe in short what a bitcoin wallet does.
The wallet works as storage for private keys to sign and approve transactions.

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Stores private keys and signs transactions.

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A Bitcoin wallet stores the wallet owner’s private key/s. It signs transactions using the private key as well.

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Describe in short what a bitcoin wallet does.

A bitcoin wallet stores private keys which are used to access Bitcoin addresses and carry out transactions.

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Bitcoin wallet stores private key, create and sign transactions.

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It stores your private key(not coins) and create and sign transactions and broadcasts them into the network.It reads the blockchain and notify you, that you have founds to spent.

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