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
Smart contracts
Self executing contracts on the blockchain without needing human executors or notary.
Privacy Coins
Cryptocurrencies that are designed with transaction anonimity and user privacy in mind.
PFP
It means both 'profile pic' and 'picture for proof'.
Bagholder
A person who is holding a large quantity of cryptocurrency which is declining in value or becoming worthless
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