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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".

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Related Terms

Multisignal (multi-signature)
They are wallets that require more than one key for transactions to be authorized.
Hash
A hash function is an output code (unique and alphanumeric) that we obtain from an input string,
Cryptography
A discipline or field of study which practices using cryptography to convert human-readable information that can only be deciphered by individuals who have the knowledge to.
Cloud Mining
Mining on blockchains through rented processing power rented from companies that host the physical equipment.
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