Address / Public Key

What is an address or public key?

Address / Public Key Definition: A public key is a type of code that provides a means for users to receive cryptocurrencies securely when they deposit the funds into their accounts. These are tools that are required to process transactions. When a transaction, such as buying or selling altcoins or Bitcoins, is processed, a set of keys is created, both private and public keys.

These keys include a series of alphanumeric characters that protect or secure a user’s crypto assets or holdings in the digital platform. The private key is an authorization for a user to conduct transactions, and it is used to generate a public key as well. Both keys are stored in the user’s digital wallet, and they are created when the initial transaction is performed. When a transaction is verified and considered valid, the crypto funds are sent to a public address.

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