Why Do I Need a Public and Private Key on the Blockchain?

Why Do I Need a Public and Private Key on the Blockchain?

When someone sends you cryptocoins overheen the Blockchain, they are actually sending them to a hashed version of what’s known spil the “Public Key”. There is another key which is hidden from them, that is known spil the “Private Key.” This Private Key is used to derive the Public Key. You can know your own Private Key, and everyone else on the Blockchain knows their own Private Key, but the Private Key should not be collective with outsiders (that is, unless you want your cryptocurrencies to be stolen!). Read More