Homework on Role of Wallets - Questions

Blockchain and Bitcoin 101
#1344

Hi, My bitcoin/addres is in my hard wallet and to keep it safe and secure I have my private key.

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#1345

A bitcoin wallet stores a private key, and creates and broadcasts transactions.

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#1346

it stores your pravet key and sign transactions and read transaktions

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#1347

Describe in short what a bitcoin wallet does.
A wallet holds a person’s private key. It creates and signs a transaction and broadcasts it. When it receives money, the wallet will read the transaction and communicate it to its owner.

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#1348

Yes. Keep your seed and private key secure. :slight_smile:

3 Likes
#1349

A bitcoin wallet:
Stores your private keys

  • create and sign transaction
  • broadcast transaction to network (connect to different peers and propagate transaction)
  • reads the blockchain and notify you that you have funds to spend.
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#1350

Homework on Role of Wallets - Questions

  1. Describe in short what a bitcoin wallet does.
    Basically it does nothing, it holds your keys and signs your transaction with this key and doesn’t store coins.
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#1351
  1. Wallet simply stores your private key, signs message, and broadcast them to the network.
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#1352
  1. Describe in short what a bitcoin wallet does.

A bitcoin wallet holds a private key which allows signing and broadcasting bitcoin transactions for funds that are linked to that key.

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#1353

Bitcoin Wallet = Stores your PRIVATE KEYS
Wallet= Creates TRANSACTIONS(SEND & RECEIVE)
Wallet= SIGN TRANSACTIONS
Wallet=BROADCAST TRANSACTIONS
Wallet= TELLS you your BALANCE

2 Likes
#1354

A bitcoin wallet stores the private key. Using a bitcoin wallet you can create, sign and send transactions, query the blockchain etc.

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#1355

A bitcoin wallet stores your private keys to your bitcoin.

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#1356
  1. Describe in short what a bitcoin wallet does.
    • It stores your private & public keys and it is responsible for the initiation of transactions.
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#1357

ok I am missing something. signing and sending/receiving transactions

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#1358

A wallet stores ones private keys. It does not hold any bitoin.

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#1359

Homework on Role of Wallets - Questions

  1. Describe in short what a bitcoin wallet does.

A Bitcoin wallet simply signs transactions using the users private key. Wallet also shows user the unused funds available.

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#1360

Private key is very important security.

2 Likes
#1361

A bitcoin wallet stores private keys and it is used to sign transactions which are broadcast through the network to be confirmed and updated on the public ledger the wallet then notifies you of your balance by reading the distributed ledger.

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#1362
  1. Describe in short what a bitcoin wallet does.

A bitcoin wallet holds your private keys and uses those keys to sign transactions before they are broadcast to the bitcoin network.

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#1363
  1. A bitcoin wallet keeps your private keys and is used to sign transactions.
1 Like