Published by Elena Kryvytska
1. A cryptocurrency account, which is based on Asymmetric cryptography, consists of 2 keys: public key and private key.
2. OpenSSL uses seeds, which guarantees very good entropy, so your keys are truly random and secure. No saving or networking.
3. Also, some websites make it very difficult to export the private keys.
4. The private key (raw or in wallet import format) is a secret number generated randomly.
5. You spend money by using private key to sign transaction.
6. The same applies for cryptocurrencies, the money is truly yours when only you have the keys.
7. You can go to some websites, create an account and have them manage your online wallets there.
8. The public key is derived from private key.
9. Your account address is a hash value of this public key.
10. It also means that you can lose your money when they are hacked or compromised.
11. It's important that only you own and store these keys securely.
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Elena Kryvytska |
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