Private Keys
By CoinGecko | Updated on Mar 03, 2020
In public-key cryptography - one of the basis of cryptocurrency, digital keys are generated from a large random number through a cryptograhic key generation program to produce a private key and public key. In such a system, anyone can encrypt a message using the receiver's public key, but that encrypted message can only be decrypted with the receiver's private key.
Private keys must be stored securely to maintain the safety of one's cryptocurrency. "not your keys, not your coins".
Related Terms
Market Taker
Participant of the market who buys and sells from currently existing orders
Batch Auction
A Batch Auction distributes an amount of tokens to users that is proportional to their contribution to the pool.
Cloud Mining
Mining on blockchains through rented processing power rented from companies that host the physical equipment.
Venture Capital
capital (funds) that is invested in a company that needs a substantial pool of funds to initiate.
Hungry for more knowledge?
Back to Glossary or Subscribe to our newsletter.