Well, it's very simple. Traditional wallets just generate multiple private keys.
A private key is basically a randomly generated number. You can generate several of those, and store them all in a file.
This poses a challenge with backups, because you have to keep saving new backups - and even if you do, as you continue using the wallet, your coins could be ...
what does the process to convert it involve?
The process is described in the Bitcoin Wiki page on WIF:
Take a private key
Add a 0x80 byte in front of it for mainnet addresses or 0xef for
testnet addresses. Also add a 0x01 byte at the end if the private key
will correspond to a compressed ...
Some usage examples are now available in the repository.
This example demonstrates how to generate a key pair, and create a transaction paying to the public key hash (P2WPKH).
There is also the legacy version (P2PKH).
This example demonstrates how to use more complex Bitcoin Script with P2WSH.
There is also the legacy version (P2SH).
Modern wallets are hierarchical deterministic (HD) wallets.
A root key is used to derive an effectively infinite number of private keys using systems such as BIP32.
Each derivation results in a single public/private keypair, and hence a single address at that level.
Prior to the usage of HD wallets, things were a bit more straighforward - every time you ...
Firstly, you should never enter a Bitcoin Private Key on an online service (unless you're okay with never owning those Bitcoins again).
Secondly, almost all Private Keys are already in WIF format when you see them. Unless you literally generated a random large number, you probably were not given a raw PrivateKey.
Thirdly, If the data you have is really a ...
Is there any method from which we can manually calculate wallet privatekey ...
You can't calculate the private-key.
You can extract the key if the wallet is unprotected or if the wallet is protected and you know the wallet passphrase (also known as the wallet "password").
You can do this using walletpassphrase and dumpprivkey in either Bitcoin-...
Can I recover btc sent to an incorrect address?
Confirmed Bitcoin transactions cannot be cancelled, reversed, undone or recovered.
The only person who can give you your money back is the recipient, by creating a new transaction to send the same amount back to you.
I realize now that I had a malware copy of electrum
If the initial mishap was due to a ...
Yes, this happens when the same key is used perform multiple signatures with the same R value - simply using the same key for multiple, sanely produced signatures with a different R value will not result in leakage, no matter how many such signatures you make.
Modern wallets use a deterministic nonce via RFC 6979.
No sane application should EVER attempt to validate a private key by attempting to pass it to an external API. That's a ridiculously easy way to lose all your funds if the API operator is malicious, compromised, or someone is eavesdropping on your communication with said API.
You should do this yourself, preferably using a well tested, community supported, ...
I used Bitcoin in 2013, and it was certainly possible to use it without a password, then. I can't imagine it ever not having a password facility though. The wallet was by default "un-locked", and then, with the password, you could lock it. You could read balances etc even when the wallet was locked.
Bitcoins are not saved in wallets.
The only important data in a wallet are the secret numbers called the private-keys.
The nearest approximation to the truth is that bitcoin are stored in the public blockchain - of which every bitcoin wallet either maintains its own copy or has access to a copy.
In the case of the wallet named "Bitcoin Core", the ...
Unused addresses are unrelated to mining activity. Even if you were mining, you will still see many unused addresses. The Bitcoin earned from mining would be associated with a used address.
Bitcoin Core by default will generate 1000 (previously 100) unused keys to be used in the "keypool". The keypool is the pool of unused keys and is used as a ...
ECDSA signing uses a random number called the nonce. A signature contains two numbers (r, S). r is generated only from the nonce and the nonce mustn't be reused. When the nonce is reused, r is the same too.
https://www.maximintegrated.com/en/design/technical-documents/tutorials/5/5767.html Eq 2 shows how r only depends on the S.
I don't know what you're ...