Post
Topic
Board Bitcoin Technical Support
Re: How to generate Bitcoin Address?
by
Stevets
on 09/03/2014, 15:37:57 UTC
I'm new to this topic. Can anybody explane me why we need both private and public keys?

Imagine a whole bunch of uniquely numbered vaults with a slot that anybody can drop money in. The vaults are clear so you can see how much money is in them but the only way to get the money out is by knowing the combination to it's lock. The public key is the number of the vault and the private key is the combination for it's lock.

That is a stupid oversimplification but it is the way I think about it.