Whether you consider yourself a newcomer to cryptocurrency, an amateur investor, or an expert, it’s always helpful to get a download on the latest perspectives on keeping your crypto assets secure.
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It’s also important to understand that everything in cryptocurrency revolves around keys. When it comes to transacting with cryptocurrency, everyone needs a public key. Public keys are essentially what connect you and your cryptocurrency to the blockchain ledger. Alternatively, private keys are known only to you, and are the tool that you must use to verify or sign transactions involving your cryptocurrency.
Paul Puey is the CEO and founder of Edge, a multi-currency crypto wallet. He elaborates on the nature of blockchain security and the need for these keys, “One of the biggest misconceptions about blockchain technology is the belief that it helps make data secure. In actuality, data on a blockchain is inherently public and visible to everyone. However, the keys used to access a blockchain need to be very secure, as those keys are now money. Therefore, blockchains have not created a new form of security, they have motivated its creation.”
This “cryptographic achievement” as Erik Schmidt, Executive Chairman
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