Transactions - private keys. A transaction is a transfer of value between Bitcoin wallets that gets included in the block chain. Bitcoin wallets keep a secret piece of data called a private key or seed, which is used to sign transactions, providing a mathematical proof that they have come from the owner of the wallet.
Is bitcoin a wallet?
The term "wallet" is a bit misleading because Bitcoin's decentralized nature means it is never stored "in" a wallet, but rather distributed on a blockchain. Bitcoin is one of the first digital currencies to use peer-to-peer (P2P) technology to facilitate instant payments.
What are bitcoin keys?
Bitcoin keys should not be confused with a Bitcoin wallet, which is a physical or digital device that facilitates the trading of Bitcoin and allows users to track ownership of coins. The term "wallet" is a bit misleading because Bitcoin's decentralized nature means it is never stored "in" a wallet, but rather distributed on a blockchain.
What is bitcoin and cryptocurrency?
Bitcoin is a type of cryptocurrency. There are no physical bitcoins, only balances kept on a public ledger that everyone has transparent access to. All bitcoin transactions are verified by a massive amount of computing power.
