Homework on Role of Wallets - Questions

A bitcoin wallet stores your private keys which contains your money

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A BTC wallet stores private and public keys. It does not store coins, but signs transactions. There are cold store-hardware, hot wallets, and paper wallets as well.

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Yes this is correct :smiley: just making sure :wink:

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-Describe in short what a bitcoin wallet does.
A bitcoin wallet generate and stores a private key and a public key.

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  1. Describe in short what a bitcoin wallet does. - The wallet stores private keys, creates and signs transactions, then broadcast the transaction to the network/nodes. It does not store coins but only passwords.
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Describe in short what a bitcoin wallet does.
There seem to be different styles of wallet but a safe wallet is not normally connected to the internet but when it is, the hardware device (wallet) has your private key and identifies you with the Block Chain and in a sense is a signature unique to you that signs transactions before they can take place, so no wallet no key no transfer possible. Your wallet doesn’t physically store any funds just your private key.

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Describe in short what a bitcoin wallet does.

  • A bitcoin wallet is software or hardware with software, that holds/stores your Private Secure keys. There are no actual coins for that asset, only secure keys. When sending Bitcoin, the wallet digitally signs for those transactions and then broadcasts that transaction to the network. As well, your Bitcoin wallet will let you know when you have received funds so you can spend those coins.
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  1. Describe in short what a bitcoin wallet does.
    A bitcoin wallet has no coins. It stores your private keys, creates and sends transactions, and then broadcasts them to the network.
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Q. Describe in short what a bitcoin wallet does.

A bitcoin wallet:

a. Stores Private key
b. Creates and signs the transaction using Private key
c. Broadcasts the transaction to the network
d. Reads the blockchain and confirms bitcoin received

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it broadcasts transactions, stores your private keys, signs transaction

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Bitcoin wallet
-Stores your private key to sign transaction,
-It does not have any coins,
-It creates transactions,
-Broadcast transaction to the nodes,
-Read transactions on the blockchain in order for you to be notified if you have funds to spend or if you have incoming funds to be received.

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Stores you private key and use it to sign transactions and to validate your balances

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A bitcoin wallet can be a hardware, mobile app, hosted wallet that stores your private keys and can then be used to sign a transaction to be sent to nodes on the bitcoin network for processing. The wallet dose not store any coins, the database will verify the transaction and record it in the ledger.

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1.Describe in short what a bitcoin wallet does.
It stores your private key and signs or approves your transaction then broadcast it to the network.

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Describe in short what a bitcoin wallet does.
it stores your private key with which i can sign transactions (transfer bitcoins). It does not contain any “coins”. How much i own is basically only the some of transactions recorded on the public ledger of the blockchain.

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  1. Describe in short what a bitcoin wallet does.

The wallet stores your private keys and sign transactions, it also keeps data on incoming funds and your balance.

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A bitcoin wallet stores your private keys and allows you to send and receive transactions on the bitcoin network.

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  1. Bitcoin wallet enables to receive and send BTC/funds by storing the private keys, creating public key and thus signing the transactions. Bitcoin wallet broadcasts the encrypted transaction within the blockchain network, the transaction must be validated by other nodes across the network, after that the changes are added to the entire blockchain.
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A wallet can store your private keys, sign transactions and store your balance info.

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A bitcoin wallet stores your keys, signs transactions, interfaces with the blockchain

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