How does a blockchain wallet work?

A blockchain wallet is a software application that allows users to securely store, manage, and interact with their cryptocurrencies and other digital assets.

When a user creates a blockchain wallet, they are provided with a public key and a private key. The public key serves as the address that others can use to send cryptocurrencies to the user's wallet, while the private key is used to access and manage the user's funds.

When a user wants to make a transaction, they create a digital signature using their private key, which is then broadcast to the blockchain network for verification. The blockchain network validates the transaction, ensuring that the user has the necessary funds and that the transaction adheres to the rules of the network.

Once the transaction is verified, it is added to the blockchain ledger as a new block, which contains a unique cryptographic hash that links it to the previous block. The new block is then added to the blockchain, creating an immutable record of the transaction.

In summary, a blockchain wallet allows users to securely store, manage, and transact with their digital assets on the blockchain network, using their public and private keys to interact with the network and validate transactions.