So basically I started in this crypto currency thing for few weeks and I started to learn how does the wallets work so far I think that I understood it well.
I want to ask (if somebody know) how does Bitcoin Wallet work for mobile phones? Not online one but this one -
https://play.google.com/store/apps/details?id=de.schildbach.wallet I see that it has peers (are they used to confirm transactions) also I see that this wallet needs to sync. How does it work? Why it doesn't download whole block chain and how does it connect to the blockchain network?
Also If I use backup option - does it stores my Private keys as well as public key? So for example I backup wallet today and I have few transactions in the future and I reinstall the app - with backup I will be able to have my last balance? (since network has infos about my previous transactions)
If there anyone who knows this and I'd appreciate if you can explain to me, thank you in advance!
Thank you in advance your ManaMan!