How do public and private keys contribute to the security of cryptocurrencies?

1 answers

• ahneeyuhOct 03, 2020 · 5 years ago
  Public and private keys are an essential part of cryptocurrency security. When you create a wallet, you generate a pair of keys: a public key and a private key. The public key is like your wallet address, which you can share with others to receive funds. The private key, on the other hand, is like the key to your wallet. It should be kept secret and never shared with anyone. When you want to send funds, you use the recipient's public key to encrypt the transaction. Only the recipient, with their private key, can decrypt and access the funds. This ensures that only the intended recipient can receive the funds, providing a secure way to transfer and store cryptocurrencies. Remember, your private key is the key to your digital wealth, so keep it safe and secure!
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