Homework on Role of Wallets - Questions

Blockchain and Bitcoin 101
#642

Describe in short what a bitcoin wallet does.
A wallet stores your private key and is used to create / sign transactions that are sent to the nodes within the network. The most easy to use but still secure ones are hard wallets, since they store the private key completely away from internet access.

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#643

Describe in short what a bitcoin wallet does.

It contains your private key to sign / perform transactions.
The wallet broadcasts the transaction to the network.

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#644

Describe in short what a bitcoin wallet does.

The wallet does not contain any actual coins, but instead it broadcasts transactions to nodes within the network. It contains your private key(s) and creates and signs transactions.

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#645

It stores the private key and can sign transactions (send and recieve)

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#646

It has your private key and signs transactions when you pay or receive funds

#647
  1. A wallet is an application that sends or receives bitcoin. They store your private key, sign a transaction, broadcast, and read the blockchain.
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#648
  1. It is used for receiving and sending signed transactions using the private key it stores.
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#649
  1. Describe in short what a bitcoin wallet does/
    A wallet will store you private key, create, sign and broadcast a transaction as well ass read the blockchain.
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#650

Describe in short what a bitcoin wallet does.

  1. It stores private keys
  2. It signs transactions with the private key(s)
  3. It broadcast the transactions to nodes
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#651

Bitcoin wallet stores private keys, create and sign the transaction.

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#652

It is a program which stores a private key used to sign transactions and can be used to know the amount of bitcoin assigned (transfered) to that wallet.

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#653

Describe in short what a bitcoin wallet does.

A Bitcoin wallet holds the private keys to:

  1. Used to access your public Bitcoin address
  2. Transaction signatures

that are needed to be securely stored.

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#654

A wallet is used to store private keys, sign transactions, and submit transactions to the blockchain.

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#655

a bitcoin wallet stores your private key and signs transaction into the network

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#656

A bitcoin wallet stores private key and signs transactions

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#657
  1. with the wallet icam send and receive bitcoin! the wallet holds my private to sign the transactiosns and to read transactions. the walle doest hold the coins.
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#658

A wallet is an application that allows a user to send/receive cryptocurrencies. Initiates the transaction, allows you to sign using your private key, and sends out to the network. Stores your private key. There are no coins in BTC, all transactions are stored on the Blockchain. Wallets can be through a Node, SPV, Paper wallet and hardware wallet. There are also hosted wallets, that are created by an exchange. In the latter you do not own the private key.

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#659

a wallet stores private keys, it can create and sent transactions, and read the blockchain

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#660
  1. It holds or consists of a private key, public key, and address.
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#661

Homework on Role of Wallets - Questions

Describe in short what a bitcoin wallet does.

  • A wallet keeps your private key
  • it can sign your transactions using your private key
  • It lets you know when you have recieved funds
  • It does not store any coins, only your private key
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