Most wallets are capable of generating a new private key every time new funds are being received in order to separate the digital coins on the ledger using what technique?
Tuesday, January 10, 2023
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Question: Most wallets are capable of generating a new private key every time new funds are being received in order to separate the digital coins on the ledger using what technique?
This technique is called a hierarchical deterministic (HD) wallet. It uses an algorithm to generate a new private key for each new transaction, so that the coins associated with that transaction are segregated from other coins on the ledger. An HD wallet is designed to securely store users’ data without compromising their ability to access the funds when needed.
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