What is a private key in Blockchain?

Category: BlockchainWhat is a private key in Blockchain?
Editor">Editor Staff asked 2 years ago

What is a private key in Blockchain?

1 Answers
Editor">Editor Staff answered 2 years ago

A private key is an alphanumeric phrase that is used in pair with a public key to provide encryption and decryption. It is part of cryptographic algorithms that are used in blockchain security. The key is assigned to the key generator and should stay with him only. If he fails to do so, anyone can access the details or data located within the wallet or the address for which the private key is assigned.