Private Keys
By CoinGecko | Updated on Mar 03, 2020
In public-key cryptography - one of the basis of cryptocurrency, digital keys are generated from a large random number through a cryptograhic key generation program to produce a private key and public key. In such a system, anyone can encrypt a message using the receiver's public key, but that encrypted message can only be decrypted with the receiver's private key.
Private keys must be stored securely to maintain the safety of one's cryptocurrency. "not your keys, not your coins".
Related Terms
Explain Like I'm Five (ELI5)
To explain in such simple terms that even a five-year-old would be able to understand it.
Dominance
Typically refers to Bitcoins' market capitalization dominance.
UTC Time
"Universal Time Coordinated", can be used interchangably with Greenwich Mean Time (GMT).
Pump and Dump Scheme
A market manipulation method to drive up the price of an asset before profiting by driving it back down.
Hungry for more knowledge?
Back to Glossary or Subscribe to our newsletter.