Public and Private Keys

Transacting on a blockchain slightly differs from conducting a normal transaction via your bank. Blockchains are protected by “cryptography” to ensure all transactions are encrypted and secure. To achieve this, they use public and private keys.

Private Key

Your private key is similar to the physical key that unlocks your door. It is a unique, highly secure alphanumeric code that grants exclusive access to your digital assets stored on the blockchain.

This private key must be kept confidential, as anyone who obtains it can gain full control over your funds and transactions. Just as you wouldn't give your physical house key to a stranger, your private key must be guarded at all costs.

Unlike a key to your house, however, if your private key is lost, there is no one like a locksmith who can help you regain entry to your wallet. So you must take great care never to lose your private keys.

Public Key

Your public key is like the address on your front door. This code is derived from your private key and is the destination for others to send you cryptocurrencies (like $PUFF). Your public key can be freely shared, as it does not provide direct access to your private information or funds.

With this basic knowledge, you are almost ready to start your journey. Before that, let’s cover the most important concept — Exchanges and Wallets.