Utrum explains what a wallet address is all about and in my next post, you will also see what a private key entails.
A wallet is nothing more than a unique line of code that identifies a ledger entry on the blockchain. It’s not a special account somewhere or something you need to install on your system or something you can just dream up…although you can create a wallet address using software that is designed to understand the algorithms used within Bitcoin, Komodo, Utrum, etc so they create unique and valid blockchain addresses…and you can use something you dreamed up (like a passphrase or seed of words) to help such software create that code…ultimately the wallet address is generated using calculations that are according to standards based on the cryptocurrency itself. Part of this process also ensures the uniqueness of each address, so no two addresses are the same.
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