Homework on Role of Wallets - Questions

Blockchain and Bitcoin 101
#21

Describe in short what a bitcoin wallet does ?

The bitcoin wallet holds the private key , generates public keys and sign transactions

#22
  1. It is a software (Mobile Wallet/ Hardware Wallet/ Hosted Wallet) which stores your private key and signs the transaction which specifies how many coins to be spent from which address and broadcasts to the Bitcoin Network.
#23

Homework on Role of Wallets - Questions

  1. Describe in short what a bitcoin wallet does.

It stores the private key to sign transactions. It can also recieve balance, it checks your current balance, broadcasts transactions and generally it enables to send them.

#24

A bitcoin wallet stores your private keys

#25

Its a program that store private keys and allow to sign and send transaction. (Paper wallets dont do that)

#26

Bitcoin Wallet does the following:

  • It store your private key
  • it create a transaction, sign it with your private key and brodcast it on the blockchain
  • Read from the blockchain
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#27
  1. A bitcoin wallet stores a private key that generates public keys, and digitally signs transactions.
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#28

store your crypto,put the transaction to miners,stores your private keys

#29

It stores your personal private and public keys, it allows you to receive and send bitcoin.

#30
  1. a Bitcoin wallet stores your private key and enables you to construct, sign and communicate your transaction with the blockchain nodes.
#31

A bitcoin wallet is an application which stores a private key. It uses this private key to sign messages it creates and broadcast them on the network.It also is able to read the blockchain to keep the balance up to date.

#32

Essentially a wallet is a container for private keys. The various implementations (hardware, software, paper) provide several different user interfaces and service particular use cases.

#33
  1. A true bitcoin wallet stores your private keys.
#34

1 Bitcoin wallets storing our private keys. with it we can see and send bitcoin to others users.

#35

It holds your private key, it sign transactions, it creates transactions and sends it to the network.

#36
  1. It stores your private key to sign transactions. the wallet can also query the blockchain.
#37

A wallet stores your private keys. It creates private transactions (buying and selling of bitcoins, broadcasts to the network and stores information on your balances. There are no actual coins.

#38

A bitcoin wallet holds your private keys. It signs transactions and broadcasts them to the blockchain. It can read the blockchain and display any transactions send to you. Hosted wallets are an exception to the above as they are not real bitcoin wallets but rather a way to access “crypto banks” such as Coinbase and other exchanges that hold your crypto for you.

#39
  1. a bitcoin wallet stores your private key and can sign transactions and broadcast them and can query nodes for the state of the ledger, check transactions
#40

Bitcoin wallet stores your private keys, create and sign transaction it will send the info to other nodes