Definition of Private Keys

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".

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Related Terms

Rug Pull

Sudden removal of liquidity which typically leads to asset prices crashing from the lack of liquidity to absorb buy/sells.

Token

Blockchain based unit of value issued by an organization, which grants token holders a right to participate in a network.

Dead Cat Bounce

Price rally that is short lived after a prolonged decline. Price charts will show a recovery in anticipation of a market turnaround only to decline further.

Soft Fork

A backward-compatible update to a decentralized blockchain protocol.

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