Homework on Role of Wallets - Questions

Blockchain and Bitcoin 101
#1023

its a software program where bitcoins are stored.

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#1024

A Bitcoin wallet is a database of all your transactions. It provides you ownership of your “funds” or transactions if you have the private key.

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#1025
  1. Stores private keys, creates and signs transactions, broadcasts transactions to network, and also reads blockchain to see when any “money” is rec’d.
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#1026

bitcoin wallet allows you to receive, transfer, buy and check your balance of bitcoin.

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#1027
  1. Describe in short what a bitcoin wallet does.

A wallet stores your private keys. It also signs transactions using your private key.

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#1028

Describe in short what a bitcoin wallet does. It stores your private keys and signs transactions.

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#1029
  1. Describe in short what a bitcoin wallet does.
    A bitcoin wallet uses the private key to create/verify transactions and validate them with a digital signature.
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#1030
  1. Describe in short what a bitcoin wallet does.

Stores your private keys which securely provides your digital signature when required to move funds

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#1031
  1. Describe in short what a bitcoin wallet does.
    A bitcoin wallet is used to store personal private keys, to create, sign and broadcast the transactions and also to read the blockchain. There is no coin in the wallet.
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#1032

A bitcoin wallet is an application that stores your private key. it sends your transaction to the nodes. it signs your transaction with your digital signature. the miners add your transaction to the blockchain.

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#1033

A wallet will hold your private key to access and sign TX

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#1034
  1. Store private keys.
  2. Sign transaction.
  3. Broadcast transactions to the network.
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#1035

A wallet, whether soft, hard or paper, is a method or device to keep your private keys safe.
It can also digitally sign transactions and query the block chain to track UTXO’s assigned to your private key.

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#1036

A wallet stores your private keys, can create and sign transaction,s and can check your unspent funds.

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#1037

Bitcoin wallet Contains our Private Keys, Creates and signs Transactions, Read blockchain and calculates our balance from UTXOs.

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#1038

Bitcoin wallet stores your private key which enables transactions, but not the value of coin. The result of new transactions are registered on to blockchain verified and known by all the other participants of network.

Hosted wallet is not the same as above and means applications which allow many people to hold bitcoins.

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#1039

A bitcoin wallet:

  1. stores your private key
  2. signs transactions
  3. broadcasts transactions to the network
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#1040

Bitcoin wallet stores private key, which would be used to sign transactions that the owner is trying to perform. These signed transactions will be sent to nodes for verification. Once verified will be approved and the transaction will be completed. Bitcoin wallet also checks your coin balance but it does not store the coins. The coins are stored in the actual blockchain. But in order to spend these coins these coins require the private key that you hold secret in your bitcoin wallet.

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#1041

A bitcoin wallet holds your private and public keys, sign transactions and broadcasts transactions to the network.

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#1042
  1. A wallet stores your private keys in order to create and sign transactions and broadcast them to the network. It can read the blockchain for incoming transactions
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