Hello,
I would like to inquire about the waves wallet. Has two versions, PC and online. The only difference between the two is the online version uses a web browser? Are they both essentially online clients? If so, doesn't that mean the blockchain is stored at some centralized location and no one really owns their coins?
yes and no, you can download the node version and run it on your computer if you want the full blockchain at home.
The client only send queries to a node.
Your seed is still on you side and never reach the node.
That's how you don't need to download the blockchain. It kinda work like Electrum.