January 2019
Beginner to intermediate
372 pages
11h 17m
English
Content preview from Foundations of Blockchain
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Blockchain wallets
A blockchain wallet is a piece of software that holds all the private keys owned by a particular user. While physical wallets hold hard cash, blockchain wallets hold all the private keys a user possesses, which will help the user claim assets that belong to them.
Wallets are a famous concept in cryptocurrency. A user holding the private key will be able to view their account balance when a transaction is recorded in the blockchain. Wallet nodes used in Bitcoin are called Simplified Payment Verification (SPV) nodes.
A single wallet can store any number of keys, which means a node can have multiple destination addresses. These keys are created in two distinct ways: deterministically and non-deterministically.
A non-deterministic ...