Public Key
A key that allows you to receive cryptocurrency, often shared as part of your wallet address.
What Is a Public Key?
A public key is a cryptographic code used as part of a key pair in blockchain and other cryptographic systems. It is publicly shared and works alongside a private key to enable secure communication and transaction verification.
How It Works
- Key Pair System: Every user has a key pair consisting of a public key and a private key. The public key can be shared openly, while the private key must be kept secret.
- Encryption and Verification: When someone sends you information or cryptocurrency, they use your public key to encrypt it. Only your private key can decrypt this information, ensuring the transaction remains secure and private.
- Wallet Address: In blockchain, your wallet address is often derived from your public key. This allows others to send funds to you without compromising your private key.
Example
Sending Cryptocurrency: If you want to receive Bitcoin, you provide your public key (or wallet address) to the sender. They use it to transfer Bitcoin to your account, which only you can access using your private key.
The Sum Up
In short, a public key is like your email address—it’s shared with others so they can send you messages or transactions securely.