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How Crypto Wallet Works
A cryptocurrency wallet is a software program or service that allows you to store, send, and receive digital currencies, such as Bitcoin or Ethereum. Each wallet has a unique address that can be used to send and receive cryptocurrency.
When you create a wallet, you will be given a private key, which is a long string of letters and numbers that serves as a password for your wallet.
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You will also be given a public key, which is a unique address that can be used to send and receive cryptocurrency. The public key is similar to an email address or bank account number, while the private key is like a password that gives you access to your funds.
To send or receive cryptocurrency, you will typically use the wallet software or service to generate a transaction. A transaction consists of the sender's public key, the recipient's public key, and the amount of cryptocurrency being transferred. The transaction is then broadcast to the cryptocurrency network, where it is verified and added to the blockchain.
Once a transaction is added to the blockchain, it becomes irreversible, which means that it cannot be altered or undone. This is one of the key security features of blockchain technology and helps to prevent fraud and other types of financial crimes.
Overall, a cryptocurrency wallet allows you to securely store, send, and receive digital currency, and is an essential tool for anyone looking to use or invest in cryptocurrency.
Mirror World SDK will support multiple EVM-compatible blockchains in 2023 Q1!
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