Homework on Role of Wallets - Questions

A wallet holds your private and public keys. You are able to send and receive access to funds with the use of these keys. Transactions are confirmed by other nodes on the network, and miners add new blocks to the blockchain.

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A bitcoin wallet stores just your private key which is essential in signing transactions. It does not store any coins.

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a bitcoin wallet is holds your private key with which you can sign txs.
a svp or node wallet is connected to the network and can sign txs and broadcast txs to the network.

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A Bitcoin stores your private key and creates and sign transaction that are broadcast to the network

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A bitcoin wallet stores private keys, generates and sign transactions with private key, broadcast transactions and access the transaction history (blockchain) to determine balance of “funds”

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A digital wallet allows documentation of a blockchain transaction. It stores the transaction information along with private and public key. It keeps tract of these transaction which also allows it to keep a sum of these transactions.

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A bitcoin wallet Generates a Private key and a public key address to sign and communicate transaction details for sending or receiving bitcoins.

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One of these three statements is not true. But which one? :wink:

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I think they are all true, no? Dan

Nope, a wallet doesn’t hold any coins, just the keys :wink:

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A Bitcoin wallet holds your private key and allows you to sign a transaction

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  1. A bitcoin wallet if decentralised stores your private keys and creates public keys in order to transact to and from your wallet… That information is then updated on the Blockchain.
    An exchange wallet merely stores your information along with 1000’s of other clients to transact within your accounts and is considered to be centralised…
    Remember not your keys not your money…!
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Describe in short what a bitcoin wallet does. A Bitcoin wallet holds your private key, which is then used to transmit your public key when sending/receiving funds, which allows you to sign off on a transaction.

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True. I guess I meant that they store the apps that allow one to access their BTC.

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A bitcoin wallet keeps your private keys and use them to sign all transactions and checks your balance.

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A wallet stores your private keys and generates a public key and signs transactions over the blockchain network

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It has private that you can sign signatures with and send assets. They are connected to nodes that verify the transactions and update the network…

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  1. A bitcoin wallet is a “wallet” that contains your private key and makes your public keys. This private key signs off on actions you take (transactions). And will, in ways, hitch on to a bigger node to authorize the action.
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It stores your private key and with that signs transactions or check your balance.

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1. Describe in short what a bitcoin wallet does.

  • Stores private keys
  • Creates n signs trx
  • Broadcasts activity to network
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