Private key

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Cryptography - crytpoassets (CAs).

Private key is a sophisticated form of cryptography that represents ownership of a user’s crypto-assets (CAs) and facilitates the use of CAs to transact.

A private key is an integral aspect of CAs, including Bitcoin and altcoins, and helps to protect a user from theft and unauthorised access to their assets.

It is the key that is used to sign (authenticate) a transaction.

Because of cryptographic technology, private keys cannot easily be derived from public keys and this enables the safe sharing of public CA addresses by participants and verification of transactions involving the public-private key pair.

Source - A treasurer's guide to opening a crypto wallet - ACT - May 2023 - p19.

See also