Public vs Private Keys

Encryption of data is a major function of any digital process, when you receive an email, send a text message etc.

Typically data is encrypted in two ways:

Symmetric encryption - same key is used to encrypt and decrypt data.

Asymmetric encryption - different keys are used to encrypt and decrypt data.

Most cryptocurrencies use asymmetric encryption, with a public-private key key.

What is a public key?

A public key is a cryptographic key used to receive cryptocurrency. It is similar to a bank account number that you share to receive money.

What is a private key?