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
Whale
Someone who holds an enormous amount of cryptocurrency and has the ability to wave the market
Zero Confirmation Transaction
Another name for "unconfirmed transaction"
Algorithmic Stablecoin
Algorithmic stablecoins are tokens pegged to a fiat currency which is usually the US dollar, purely through software and specific conditions.
Permissioned Blockchain
It is a private blockchain where the nodes must be previously authorized by a central entity.
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