Private Key
A cryptographic secret alphanumeric string that grants full spending authority over blockchain funds.
Detailed Definition
In asymmetric cryptography, the private key is mathematically paired with a public address. Anyone possessing the private key (or 12/24-word seed recovery phrase) has irrevocable ownership and signing control over the funds associated with that public wallet.
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Related in Crypto
Cold Storage (Hardware Wallet)
Storing cryptocurrency private keys offline on physical hardware disconnected from the internet.
Proof of Stake (PoS)
A consensus algorithm where validators commit native cryptocurrency collateral to propose and validate blocks.
Gas Fee
The transaction fee paid by users to network validators to execute transactions on a blockchain.