What is a private key?

What is a private key?

This article from the imToken Help Center Vocabulary emphasizes the importance of private keys and their role in defining each account. Each account has a public key that is derived from the private key and an address that is derived from the public key. The private key is a secret half of the address and consists of 64 hexadecimal characters. Even a single misspelled character in the private key can lead to loss of access to the wallet. It is crucial to keep the private key secure since anyone who gains access to it can control the wallet. Therefore, users are advised to backup their wallet using mnemonic or keystore instead of the private key. The keystore is encrypted and considered safer than the private key. It is also important to remember that imToken does not save the password, and once forgotten, it cannot be recovered. The imKey hardware wallet is suitable for this content.
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  • This article refers to the imToken Help Center Vocabulary
  • imKey hardware wallet is suitable for this content. If you need to interact, just switch the address to the imKey address.

Every account is defined by a pair of keys: (1) a private key and (2) a public key. Each account has an address that is derived from the public key by using the last 20 bytes of information. The private key is the secret half of your address/public key.

The private key consists of 64 hexadecimal characters that should look like this: 56f759ece75f0ab1b783893cbe390288978d4d4ff24dd233245b4285fcc31cf6.

If you misspell any portion of the private key, you will be attempting to access a different wallet. Without your private key you cannot access your funds.

The private key is an unencrypted private key, unlike the keystore which is encrypted. Anyone with access to your private key can control your wallet. If you do not have your private key, you do not own your wallet. We advise you to not backup using your private key, but instead use your mnemonic or keystore to securely backup your wallet. Since the keystore is encrypted, it is safer than the private key. Remember: We do not save your password, once forgotten, it cannot be recovered.