Homework on Role of Wallets - Questions

Blockchain and Bitcoin 101
#422

Bitcoin wallet holding your private key and the data base of the network, when there is transaction to make the wallet signs it with your private key and when you receiving the wallet check the network for confirmation.

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#423

A Bitcoin wallet stores private keys and signs transaction then adjust balances.

#424

A Bitcoin wallet stores private keys and signs transaction.

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#425

It stores the user’s private keys.

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#426
  1. A bitcoin wallet (other than a hosted wallet) stores a user’s private keys. It can sign transactions, and it can also generate public keys and BTC addresses.
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#427

Got it. Makes sense. So no signature when receiving a transaction , only when sending a transaction in combination of a public key to move the coins.

Thanks again bro !

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#428
  1. A bitcoin wallet holds the public and private keys, it does not hold any actual “Bitcoin” like a traditional wallet. The private key is like the key to a vault where your funds are. The public key is the equivalent of a mailbox to a letter.
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#429

Bitcoin wallet creates and signs transaction with the private keys that it holds.

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#430

A wallet stores the private key. It signs the transactions with the private key when initiating a transaction.
A wallet communicates with nodes when performing a transaction to validate it.

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#431

its a random number generated by your private key that allows you to receive transactions

#432

A wallet stores your private keys, can create and sign transactions and is able to check your unspent funds.

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#433

Describe in short what a bitcoin wallet does.
-A Bitcoin wallet stores the private keys to an account within the blockchain. These wallets create and sign transactions that are broadcasted throughout the blockchain via a node or an SPV, or directly from a cold storage or paper wallet. Wallets come in all different shapes and sizes, anywhere from a sleek decentralized application or a piece of paper or even an at-home digital vault on a completely offline ‘hardware device’. In short, Bitcoin wallets are a means to communicate with an entire world of computers holding the Bitcoin ledger.

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#434

A BTC wallet holds your private key, it can create/sign transactions and then broadcast/send them to the network and can also receive transactions + read blockchain information to record your balance.

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#435

the wallet is to store the private key and to sign transactions

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#436
  1. Bitcoin wallet do:
    a. Holds private key
    b. Create and sign transactions
    c. Broadcast to and read from Blockcain
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#437

The wallet stores your keys, creates and signs transactions, broadcasts your transaction and reads the blockchain to check your balance.

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#438

A bitcoin wallet stores your public and private keys, creates and signs transactions to then propogate the transaction to the network. It also notify’s you when you have fuunds available.

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#439
  1. Describe in short what a bitcoin wallet does
    a) A Bitcoin wallet stores private keys which are used to sign transactions created within the wallet. That transaction is then broadcasted or and propagated on the Global Network/different nodes to verify that signature and add transaction to the block. The wallet notifies you when you have received a transaction and checks your balance.
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#440

Bitcoin wallet stores your private key also creates and sign transactions and show the balance in the wallet then its broadcast the information to the nodes and to the network.

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#441

A bitcoin wallet holds your private keys, generates public keys, signs transactions and allows you to read your transactions

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