A cryptocurrency address, also known as a public address, is a unique string of characters that is used to send and receive cryptocurrency. It is similar to a bank account number, but it is specific to the blockchain of the cryptocurrency in question.
A public address typically consists of a string of alphanumeric characters, and it is generated using complex mathematical algorithms. Each public address is unique and corresponds to a private key, which is also a string of characters that is used to access and manage the funds associated with a public address.
When someone wants to send cryptocurrency to another person, they need to know the recipient’s public address. The sender then uses their own private key to initiate a transaction, which is broadcast to the network for validation. Once the transaction is confirmed by the network, the funds are transferred to the recipient’s public address.
It’s also worth noting that some cryptocurrencies like Monero or ZCash use stealth addresses, where the public address is different for each transaction in order to maintain privacy.
It is important to keep the private key safe and never share it with anyone, as anyone with access to the private key can access the funds in the associated public address.
