Crypto wallet: Difference between revisions
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imported>Doug Williamson (Create page. Sources: Linked pages.) |
imported>Doug Williamson (Clarify wording.) |
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Wallets do not actually hold cryptoassets since cryptoassets are on the blockchain network. | Wallets do not actually hold cryptoassets since cryptoassets are located on the blockchain network. | ||
Rather, the system of transfer and ownership relates to the private key that - in turn - proves ownership of units on the blockchain. | |||
Revision as of 07:02, 22 June 2023
Information technology - blockchain - cryptoassets.
A crypto wallet is a tool used to store the private password (key) for accessing cryptoassets on the blockchain and to share the public address for receiving cryptoassets.
Wallets do not actually hold cryptoassets since cryptoassets are located on the blockchain network.
Rather, the system of transfer and ownership relates to the private key that - in turn - proves ownership of units on the blockchain.
Cryptoassets are not therefore electronically sent between participants, instead proof of ownership is transferred electronically.
