Estimated reading time: 1 minute, 31 seconds
Blockchain A – Z covers all of the important topics you need to know if you’re just getting into blockchain! We go letter by letter with each episode defining a specific topic. By the end of the series, you’ll know your blockchain ABCs!
No… We are not talking about your street address or your email address. A blockchain or cryptocurrency address is a bit more technical. And important to understand!
An address is used to receive and send transactions on a blockchain network. It contains a string of alphanumeric characters, but can also be represented as a QR code. It is also known as a public key, and asymmetric encryption is used to produce, encrypt, and secure the data tied to this address (a.k.a. public key).
When you download a cryptocurrency wallet, you are provided with an address. Some wallets will let you keep the same address forever, while others change your address from time to time in order to provide more privacy.
Addresses are different for each wallet service, and not every wallet is compatible with every cryptocurrency.
Keep in mind that there is your address, which is public. But there is a private key that is also a string of alphanumeric characters and looks similar. Do not confuse the two and accidentally share your private key! This will corrupt your security completely, and ultimately allow someone to steal all of your funds. To learn more about how to secure your cryptocurrency, head over here.