Public Key

A public keyA public key is like a lock that everyone can see but only you can unlock. It's a long string of characters that is generated... More is like a lock that everyone can see but only you can unlock. It’s a long string of characters that is generated from your private keyyou may already know that public key cryptography is used in many applications to securely exchange information between two parties. With cryptocurrency, private keys are... More, which you keep secret. Just like a lock, the public key is used to secure transactions on the blockchainThe blockchain is a digital ledger that records transactions in a secure and decentralized manner. Think of it like a shared spreadsheet that is constantly... More.

When someone wants to send you cryptocurrencyCryptocurrency is a digital or virtual currency that uses cryptography for security and operates independently of a central bank. Cryptocurrencies use decentralized technology called blockchain... More, they use your public key to create a unique addressString of text that designates the location of a particular wallet on the blockchain. Often a hashed version of a public key. More for your account. This address is like your mailbox, and it’s where other people can send you cryptocurrency.

The public key is also used to verify that a transaction was sent by you. This helps prevent fraud and ensures that only you can spend the cryptocurrency that is associated with your address.

Overall, the public key is an important part of the cryptography that makes cryptocurrency secure and decentralized. It’s a way to keep your transactions private while still allowing others to verify that you are who you say you are.