Blockchain & Cryptocurrency Glossary

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Single-Coin Wallet

1 min read
Pronunciation
[sing-guhl koyn woll-it]
Analogy
Like a savings account for only one currency.
Definition
A wallet dedicated to a single blockchain asset, often offering specialized features for that coin.
Key Points Intro
Single-coin wallets specialize via:
Key Points

Optimized UX: Tailored features for one coin.

Lightweight: Minimal dependencies.

Advanced functionality: May support staking or governance.

Security focus: Single codebase audited deeply.

Example
Electrum is a Bitcoin-only wallet offering advanced coin control and hardware integration.
Technical Deep Dive
Implements coin-specific P2P or SPV protocols. Transaction builder handles UTXO model and script types. May integrate coin-specific staking or masternode features.
Security Warning
Lacks diversification; if wallet code has bug, all funds at risk.
Caveat
Cannot manage other assets; users need multiple wallets for different coins.
Related Terms
Multi-Coin Wallet
SPV Wallet
Full Node Wallet
Hardware Wallet

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