Suppose I was to design a bitcoin client that supports the ability to have multiple wallets (i.e. multiple users).
Is it safe to assume that each wallet is identified by one private key?
Is there a disadvantage (from a privacy/anonymity aspect) to having only one private key per wallet?
Are there any advantages to having more than one private key per wallet? If so, what are they?
I was under the impression that a private key can generate many many public keys, that's why I asked the question. Given that a private key will only generate one public key, the question becomes meaningless and it becomes obvious that each account should have lots of private keys (without limit).