Private Key

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Meaning of Private Key

It is the part of cryptographic key which is used to decode encrypted information on the Blockchain. It can only unlock info encrypted by its public key pair.

Example: In cryptography, a public key is a cryptographic key that can be utilized by any party to encrypt a message. Another party can then receive the message and using a Private key that is only known to that individual or group, decode the message.

Thus, you need to keep your private key secretly and securely offline to prevent hacker/fraudsters accessing your cryptocurrency wallet to steal your money.

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