Private Keys
Ownership • Legacy • Access Control • Sovereignty
secret wallet control credential
Private keys are cryptographic codes that grant full access and control over a cryptocurrency wallet and the assets within it. They must be kept secret, as anyone with the private key can send or manage the associated funds. In blockchain systems, private keys are paired with public keys to sign transactions and prove ownership without revealing sensitive information.
Use Case: A user stores their private key in a hardware wallet. When they want to send XRP, the hardware wallet uses the private key to cryptographically sign the transaction—proving ownership without exposing the key itself to the internet or any third party.
Key Concepts:
- Public Key Cryptography — Mathematical framework where private keys create digital signatures verified by public keys
- Self-Custody — Direct control over assets by holding your own private keys
- Seed Phrase — A human-readable backup that can regenerate private keys
- Hardware Wallet — Physical device designed to securely store private keys offline
Summary: Private keys are the foundation of blockchain ownership and security. The phrase “not your keys, not your coins” emphasizes that true control over digital assets requires personal custody of private keys. Losing or exposing a private key means losing access to or control over the associated funds permanently.