A wallet provides an interface to store private keys - used as proof of origin to create and sign transactions - then broadcast transactions to a network of nodes for propagation. A wallet does not store coins per se, but rather has the ability to store a ledger copy or query the blockchain to verify transactions and notify its owner of exchanges with other users.
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- A bitcoin wallet stores the private keys for your bitcoins. It creates and signs the transactions and broadcasts them to the network.There are different types, some more secure than others.
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Describe in short what a bitcoin wallet does? it stores your private key which allow you
to use your bitcoin as you like
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Hi,
1, Wallet holds + uses private key to create and sign transactions. Also, wallet can get information which transactions are related to a wallet.
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It gets used for transactions,stores your private key,broadcast.
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- Describe in short what a bitcoin wallet does.
A bitcoin wallet is the interface which stores your private keys and and digitally signs transactions when you send funds.
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Wallets hold your private keys and create and sign transactions
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A wallet keeps your private keys, signs and broadcasts transactions, interrogates the blockchain and notifies you that you have funds…
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[quote=“ivan, post:1, topic:8437, full:true”]
Homework on Role of Wallets - Questions
1. Describe in short what a bitcoin wallet does.
- Hold your private keys
- Create and sign transaction
- Broadcast
- Read Blockchain
[/quote]…
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Describe in short what a bitcoin wallet does.
It stores your private key and signs transations. It also checks your funds.
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- Describe in short what a bitcoin wallet does.
A bitcoin wallet is an application that allows sending and receiving of bitcoin. It holds your private and public keys and sends transactions to and receives transactions from the network.
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- A bitcoin wallet stores your private key, and creates, broadcasts, and signs transactions.
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- A bitcoin wallet stores your private key and signs transactions. It will either run a full node itself or communicates with another node to run transactions. The wallet will check the blockchain to update current available funds on the account, yet never directly stores coins.
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A Bitcoin wallet contains your private keys, which are used to sign transactions to then broadcast it to the public ledger, once its approved the wallet notifies you and shows you your balance. the wallet cointains no coins.
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A bitcoin wallet generates and stores a private key and a corresponding public key. With this wallet I am able to participate in the network and I can send and receive bitcoins. In detail, I am not sending coins from my wallet or storing coins in my wallet. I am just changing the “database” (send out a transaction) in case I want to spend my bitcoins. When I want to send bitcoin I am signing the transaction with my private key and every node in the network can check (with my public key) if the transaction is valid or not. There are different types of wallets, each of the them have advantages and disadvantages.
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In short the wallet is a part of the bitcoin ecosystem and it is(mostly) used to send and receive cryptocurrencies . It generates a private key from which a public key is generated . The private key is also used to digitally sign (verify ) the transactions and then sends it ( but does not write it ) to the blockchain .
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A bitcoin wallet stores your private key so that you can digitally sign transactions that you want to send to the blockchain. From the private key, it also generates your public key, and from that the public bitcoin address, that is your identification for receiving bitcoin from others. It sends bitcoin from you to others by broadcasting the signed transactions to the nodes on the network. It recieves bitcoin to you from others by constantly scanning the blockchain for new transactions that has your bitcoin public address as receiver
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A wallet stores your private key and can be used to send and receive bitcoin. If you send money to somebody it creates the transaction, signs it with your private key and then broadcasts the signed transaction to the nodes. It also regularly reads the blockchain to see if you received any funds to show you your balance.
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Describe in short what a bitcoin wallet does
A bitcoin wallet stores the private key used to sign transactions. Signed transactions are sent to the network nodes where they are confirmed after the miners do thier work. When you receive funds your wallet (via SVP for example) will read the blockchain and inform you that you have funds to spend.
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Describe in short what a bitcoin wallet does.
A wallet stores the private key(s), sign and broadcast transactions to the network of nodes. It also receives transactions and notifies the owner. Wallets can by full nodes, partial nodes (SPVs), hardware wallets or even custodial or hosted wallets. The latter are not really wallets but apps that communicated with the hosted wallet at for example some exchange.
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