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January 05, 2014, 07:51:51 AM |
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How it works is that you have a wallet.dat file which stores secret keys for every public number (what you send to others) that the client produces. When you click on "get receive address" or similar, it plucks a public address from the wallet and gives it to you to give to someone else. When they make a payment to that address everyone can see it, but, only you have the key in your wallet.dat file to say "hey, that's mine!", and the right to spend it.
The clients check all public addresses in the block chain as to whether they own them and can claim them or not.
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