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I dont understand how a wallet comes into play? Is a wallet a necessary part of a transaction or is it just a way of collating multiple addresses?
I get how I should use a new address for each transaction but don't understand whether they have to be attached to a wallet?
I am looking to generate thousands of addresses to accept payments for purchases in my online shop. Once an address has money in it, do I need to collate all the money together in a central account?
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Is a wallet a necessary part of a transaction or is it just a way of collating multiple addresses?
Wallets are just a convenient way to store/back up multiple private keys (corresponding to multiple addresses).
Once an address has money in it, do I need to collate all the money together in a central account?
Not really - you can spend money from multiple addresses in one transaction.
thanks Nick, how does that work? How would I send from multiple addresses in one transaction, if I don't use a wallet? (We are building a web app, which needs to receive payments and then pay out winnings. (which may be more than the initial payment). Any ideas – BitWarrior – 2013-02-20T17:50:23.503
2@BitWarrior Is there some reason why you are opposed to using a wallet? – Nick ODell – 2013-02-20T17:53:20.783
2I don't think you understand what a wallet is.. A wallet is simply a way (fileformat) to store multiple addresses in a single file. If you store all addresses in a database, then your .sql file is your "wallet". – Nicolai – 2013-02-20T23:37:06.337
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Possible duplicate of What's the difference between a wallet and an address?
– Suncatcher – 2019-11-21T18:06:30.410