Crypto Glossary

Core Wallet

A core crypto wallet is able to contain the entire blockchain, rather than just a piece of a blockchain.

What Is a Core Wallet?

A core wallet has the ability to contain the entire blockchain instead of just a piece of it, and allows users to both receive, store and send digital money, alongside the program on or with it. For example, Bitcoin transactions are kept on a digital ledger known as a blockchain which is maintained by a multitude of computers across the globe. This digital record is ever-growing, and a wallet is a software that interacts with the network of recordings and lets users receive, store and even send their digital money.

To get a deeper understanding of this, we have to look at Bitcoin Core, which is a full Bitcoin client and builds the backbone of the entirety of the network. Bitcoin Core also offers high levels of security, as well as privacy and stability. It has fewer features and takes a lot of space and memory by comparison though.  

Bitcoin Core is a wallet for storing Bitcoins. This is a full node of the blockchain network, and it is considered to be “heavy” — this implies that in order to run the wallet on your computer, you are required to download the entire chain to your computer. The full wallet synchronization takes several days to complete. It is an open-source application and can be easily downloaded.

The application is intended for serious crypto enthusiasts who want to support the community and are interested in the technical aspects of the network itself. The wallet allows you to hold Bitcoin, alongside sending them as well as receiving them. Only one address can be connected to the application, and it is a one-time process.

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