#wallet

Centralized vs decentralized crypto wallets

10.05.2022 Crypto Basics

Wallet

A wallet is the medium that stores a user’s private keys that grant him/her access to their digital tokens.

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Private key

The private key is the combination of characters that is generated by cryptography and acts as a digital signature of its owner.

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Multisignature

Multi-signature is essentially a signature that requires the simultaneous presence of more than one unique key to confirm a transaction or access the resources.

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Double Spending

Double spending occurs when a digital currency is replicated and spent twice.

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