A wallet is a program that generates pairs of private and public keys. Each of the keys has the form of a unique character set of letters and numbers. The public key is the address to which digital money is sent and can be seen by other users. With the help of a private key, an electronic digital signature is created in the blockchain. This is a way to confirm your right to make transactions. The address in the blockchain belongs to the one who knows the private key from it. If the private key is lost, the wallet owner will lose access to their funds.
It is important to protect the private key from outsiders, since, with the help of this key, they will be able to transfer all crypto assets from the corresponding address to themselves. Private and public keys work together: without the public key, the sender will not be able to start the transaction, without the private key, the recipient will not be able to decrypt the transfer.
