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What is Public address and private key?
A public address is the cryptographic hash of a public key. They act as email addresses that can be published anywhere, unlike private keys.
A private key is a string of data that allows you to access the tokens in a specific wallet. They act as passwords that are kept hidden from anyone but the owner of the address.
A private key is a string of data that allows you to access the tokens in a specific wallet. They act as passwords that are kept hidden from anyone but the owner of the address.
A public address and private key are fundamental components of cryptocurrency and blockchain technology. The public address is a unique identifier that serves as a destination for receiving cryptocurrency transactions. It's akin to an email address, which you can share with others to receive funds. This address is derived from the user's public key, which is part of a cryptographic key pair.
The private key, on the other hand, is a secret code that allows the owner to access and manage the cryptocurrency associated with their public address. It must be kept confidential, as anyone with access to the private key can control the associated funds. The private key is used to sign transactions, providing proof of ownership and authorization. Together, public addresses and private keys ensure secure, decentralized financial transactions within blockchain networks.
The private key, on the other hand, is a secret code that allows the owner to access and manage the cryptocurrency associated with their public address. It must be kept confidential, as anyone with access to the private key can control the associated funds. The private key is used to sign transactions, providing proof of ownership and authorization. Together, public addresses and private keys ensure secure, decentralized financial transactions within blockchain networks.
Aug 18, 2021 04:20