Transactions on the blockchain can be likened to sending letters, where each person has their distinct postal address, be it a residence, a P.O. box, etc. A standard letter comprises two essential elements: the sender’s address and the recipient’s address.

Applied to transactions between cryptocurrency wallets, this process has a direct correspondence. Each cryptocurrency wallet is equipped with a public key, which can be compared to a home address. Each public key is unique to its respective wallet. Essentially, it is the address to which other users can send funds or cryptocurrencies.

Public Key (Authorized and Shared Access): The public key is akin to a public postal address. It enables other users to know your wallet and send you cryptocurrencies. This key can be shared without risk, as it only authorizes the receipt of funds.

Private Key (Denied Access, Secret): The private key is the equivalent of the confidential content of a letter. It is secret and highly secure information that should never be shared. The private key grants access to the ownership and total control of the wallet’s funds. Disclosing the private key is equivalent to giving unrestricted access to all assets in the wallet, something that must be avoided at all costs.

In summary, the public key serves as a public address, allowing others to send funds, while the private key is strictly confidential information, ensuring the security and exclusive control of a user’s cryptographic assets. Safeguarding the private key is crucial to prevent any unauthorized access to your funds on the blockchain.