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
Wei
The smallest fraction of an Ether, with each Ether to 1000000000000000000 Wei.
Wallet Address
The address in which cryptocurrency can be stored, sent to and receive.
MicroBitcoin (uBTC)
One millionth of a bitcoin or 0.000001 of a bitcoin. Microbitcoin is the abbreviation of uBTC and often misunderstood as the fork of Bitcoin.
ERC-20
ERC-20 is one of the most widely used token standards in Ethereum to create fungible, exchangeable tokens.
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