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@ -11,7 +11,7 @@ In this chapter we will look at the second meaning, where wallets are containers
=== Wallet Technology Overview
In this section we summarize the various technologies used to construct user-friendly, secure, and flexible bitcoin wallets.
((("wallets", "technology overview", id="Wtechnology05")))In this section we summarize the various technologies used to construct user-friendly, secure, and flexible bitcoin wallets.
A common misconception about bitcoin is that bitcoin wallets contain bitcoin. In fact, the wallet contains only keys. The "coins" are recorded in the blockchain on the bitcoin network. Users control the coins on the network by signing transactions with the keys in their wallets. In a sense, a bitcoin wallet is a _keychain_.
@ -139,7 +139,7 @@ By writing down this mnemonic, Gabriel created a backup (see <<mnemonic_paper_ba
A 12-word mnemonic is shown in the table, for simplicity. In fact, most hardware wallets generate a more secure 24-word mnemonic. The mnemonic is used in exactly the same way, regardless of length.
====
For the first implementation of his web store, Gabriel uses a single bitcoin address, generated on his Trezor device. This single address is used by all customers for all orders. As we will see, this approach has some drawbacks and can be improved upon with HD wallets.
For the first implementation of his web store, Gabriel uses a single bitcoin address, generated on his Trezor device. This single address is used by all customers for all orders. As we will see, this approach has some drawbacks and can be improved upon with HD wallets.((("", startref="Wtechnology05")))
=== Wallet Technology Details