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Deterministic Wallet

A collective term for different ways to generate a sequence of private keys and/or public keys. Deterministic wallet does not need a Key Pool. The simplest form of a deterministic wallet is based on hashing a secret string concatenated with a key number. For each number the resulting hash is used as a private key (public key is derived from it). More complex scheme uses elliptic curve arithmetic to derive sequences of public and private keys separately which allows generating new addresses for every payment request without storing private keys on a web server. More information on Bitcoin Wiki. See also Wallet.

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