What is a private key?

As the most critical thing in the management and use of cryptocurrencies, the private key has ownership for all digital currency users, and only with the private key they'll be able to control the corresponding encrypted assets. In short, if you lose your private key your assets will be at risk of being lost.

The private key is a 64-bit hexadecimal character generated by an encryption algorithm, like this: 5KYZdUEo39z3FPrtuX2QbbwGnNP5zTd7yyr2SC1j299sBCnWjss

The private key is generated in a random method. There are 16 to the 64th power of random generation of such a string, namely: 2 to the 256th power. A wallet has only one private key and cannot be modified. Normally, you generate The probability that 's private key is exactly the same as someone else's is almost zero. But this form of private key is too complicated to store and memorize, so there is a mnemonic tool.