Private key and public key are components of asymmetric encryption, where data is encrypted and decrypted using two related keys.
- A private key is kept secret and stored securely by the owner. It is used to decrypt data that was encrypted with the corresponding public key and to sign transactions or messages, ensuring confidentiality and authenticity.
- A public key is shared openly and is used to encrypt data or verify signatures. It ensures that only the holder of the private key can decrypt the message or authenticate the action.
Together, they enable secure communication and digital signatures in various cryptographic systems.