What is a Cardano address and how does it work in the world of cryptocurrency?

1 answers

• Jan 11, 2022 · 3 years ago
  A Cardano address is a fundamental component of the Cardano blockchain. It is a unique identifier that allows users to send and receive Cardano cryptocurrency. When you create a Cardano address, you are essentially creating a pair of cryptographic keys: a public key and a private key. The public key is used to receive funds, while the private key is used to access and spend the funds. The Cardano address is derived from the public key using a hashing algorithm. When someone wants to send Cardano to you, they will need your Cardano address. It's important to keep your private key secure and not share it with anyone. If someone gains access to your private key, they can potentially steal your Cardano.
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