Describe in short what a bitcoin wallet does.
- Function of a wallet is storing your private key, sign transactions with this key and ‘find’ your balance of your account on the blockchain
- The constructed transaction will be broadcast to the network
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A bitcoin wallet stores private key, sign transaction, send transaction and receive transaction
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1.) A cryptographic wallet stores your private key which signs transactions through the public key.
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A bitcoin wallet stores your private keys, creates transactions and signa them with a digital signature.
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A bitcoin wallet can:
Keep my private keys (secret)
Broadcast transaction
Sign up transaction
Read the blockchain
It could be a full node or an SPV
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- A bitcoin wallet stores private keys and derives public keys and bitcoin addresses; creates, signs and transmits transactions; receives transactions from the blockchain
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- A bitcoin wallet stores your private keys. The wallet use the private keys to verify transaction and your balance.
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A bitcoin wallet stores your private key and public key/bitcoin address and enables you to send and receive bitcoin.
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Wallet stores your private keys. When sending bitcoin, the wallet will use your private keys to create and sign transaction. The database will verify the transaction and record it in the ledger
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A wallet stores your private keys, can create & sign transactions, broadcast those to the world and read the blockchain (to see if you received any transactions).
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Describe in short what a bitcoin wallet does.
Store you private keys and uses to sign transactions ans also can check balances.
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Describe in short what a bitcoin wallet does.
Bitcoin wallets store your private key, which will create a transaction and digitally sign it, broadcast the transaction to the blockchain, and when money is sent to you, it will read a transaction. There are different forms of wallets such as on your computer, your mobile phone, paper wallet, hardware or cold wallets, and host wallets such as from your respective crypto exchange. All have storing your private key in common.
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- Describe in short what a bitcoin wallet does - holds your private and public keys; these keys can be used to sign transactions and send bitcoin
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A bitcoin wallet stores private keys, creates and signs transactions, broadcasts transactions, and reads the blockchain.
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BTC Wallets store your Private Keys, which generate your Public Keys. They create and sign your transactions such as sending BTC to other parties, which is then broadcast to Bitcoin network. When receiving funds, BTC Wallet will read blockchain and notify how many BTCs are available.
Paper Wallet has a single Private Key and BTC address. It’s always offline so it’s secure and no one can steal your keys.
Hardware Wallet is a device like Ledger Nano that stores your Private Key, communicates with a desktop via USB. Wallet signs transactions and the App connects to internet to distribute signed transactions and check blockchain, can query from other parties, and is also offline.
Both Paper & Hardware Wallet, being offline, can protect your Private Keys from any online exposure (cold storage)
Hosted Wallet is a mobile App (Coinbase) or App created by an exchange (OKEx). It has a server that has wallet with everyone’s Private Keys. When making a web request by phone, the server will tell wallet to send BTC to wherever you want to send.
Hot wallets (e.g. desktop/mobile wallets) connect directly to the internet and, though more convenient, are less secure.
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It holds your private keys
A BTC wallet is the tool that holds the private key, and signs transactions. It does not hold the bitcoins. It may also show the transactions related to the private key, which lets you know what you received, sent, and your balance.
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A wallet is an application that can send and receive transactions. It stores the public and private key for an individual. The wallet will attach a digital signature when a transaction is initiated… Nodes in the network will validate before a miner steps in and confirms the transaction by adding it to the blockchain. A
Wallet can take many forms. It can be on a computer(online), in paper format (public/private keys are written down) or hard wallet which is a device that stores the keys offline and only interacts with an app online. A Hosted wallets that an individual may have on a exchange is not a wallet. Their keys are in a exchanges cold storage not in the wallet that they interact with on their server.
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- A wallet stores your private key. It creates transactions and signs them using your private key and sends this out to the network. It reads the blockchain and notifies you when you have funds available. It does not store coins.
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- Stores private keys and can create, broadcast, and read transactions
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