Homework on Role of Wallets - Questions

Blockchain and Bitcoin 101
#602

A bitcoin wallet stores the private key derived from the public key/bitcoin address that it is linked to on the network. When a transaction is made from this address the wallet uses the private key to sign the transaction in order to confirm to the network that the transaction was infact made by the bitcoin address it is being sent from and then will broadcast the transaction to the nodes on the blockchain.

Additionally when a transaction is sent to the wallet, the wallet reads the blockchain and notifies the user that funds have been received

Edit: The wallet also creates/constructs the transaction before signing with the private key.

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#603

A bitcoin wallet just stores you private keys.

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#604

Describe in short what a bitcoin wallet does: A Bitcoin wallet stores your private keys. They can create, sign, and broadcast transactions. They do NOT store coins. You can run a full node or utilize a SPV, paper wallet, or hardware wallet. Note that hosted wallets do NOT store private keys.

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#605
  1. Describe in short what a bitcoin wallet does.

A bitcoin wallet is used to store private and public keys as well as to create and sign transactions.

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#606

With a Bitcoin wallet you can send and receive Bitcoin. The wallet holds your private key, which it uses to sign transactions.

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#607

A bitcoin wallet holds your private keys and allows you to receive and send bitcoin transactions.

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#608

Describe in short what a bitcoin wallet does.

At a base layer a bitcoin wallet is an application that stores your private keys (which correlates into UTXOs you can spend with that private key), and uses them to construct, sign and broadcast a transaction on the bitcoin network. Wallets can also generate private keys, sign transactions, multi sig, do coin joins, estimate transaction fees, and more, depending on the application. And there are various types of wallets, that vary in ease of use, accessibility and security depending on the users needs. Examples are hosted wallets (coinbase) mobile wallets (coinomi), desktop wallets (samuri or wasabi), paper wallets and hardware wallets (ledger or trezor).

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#609
  1. Describe in short what a bitcoin wallet does.

Bitcoin wallet stores private keys, creates public keys, and signs transactions.

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#610
  1. A wallet holds the private keys and is able to create, sign, and broadcast transactions.
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#611
  1. It stores a private key and can sign transactions.
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#612

Stores your private keys, signs transactions and broadcast them to the network.

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#613

A wallet stores the private key, creates and signs transactions and broadcasts them. When to receive funds, it reads the block chain.

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#614

It stores the private keys and allows for the exchange using the ecosystem to confirm transactions.

#615
  1. A wallet stores your private keys, and the wallet creates and signs transactions with the help of the private keys.
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#616
  1. A Wallet holds my public and private key. When a transaction goes out, it signs it with my private key. The receiver (all of the Nodes) compare the signature and the public key by some sort of maths. They then confirm or reject the transaction. When a new block is added by the miners the transaction gets settled onto the blockchain.
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#617

A wallet stores your private key and is used to send and receive bitcoin.

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#618
  1. A Bitcoin wallet stores your private key. It can be in a form of hardware wallet, paper wallet, hosted wallet etc.
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#619

A wallet stores your private key. It is used to make transaction and broadcast it to the network with your own signature (made with the private key), and also to receive transactions from other wallets. It doesn’t store any coins per say.

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#620

Homework on Role of Wallets - Questions

Describe in short what a bitcoin wallet does.
A bitcoin wallet store the private key of the user and also allows the user to send and receive bitcoin on the blockchain.

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#621

Describe in short what a bitcoin wallet does.
A bitcoin wallet stores your private and public keys, either hosts a full node or communicates with bitcoin nodes to access the bitcoin blockchain, and signs transactions you make with your private key.

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