Blockchain Wallet Address Explained

Blockchain Wallet Address Explained

Welcome to this cryptocurrency video posted by Ivan on Tech. In this video you will learn about a Blockchain Wallet Address. A blockchain wallet address is a alphanumeric string that gets assigned to a digital wallet. You can give this string to others and they can transfer coins/tokens to that address. The person whose wallet it is will have the 'Private Key' that unlocks the wallet and allows the key holder to transfer coins/tokens from that address to another.

Public addresses are used to send and receive transactions. Depending on the blockchain being used, the public address usually also shows a record of all the transactions in and out of that public address. A public address is a long string of numbers and letters. Each specific coin and token have their own ‘addresses’ so you cannot send Bitcoin to an Ethereum address or vise versa. Doing so may result in a loss of those digital assets.

Crypto addresses can be in the form of a QR code, and recent advancements are making it possible  to pair a address to a top level domain (for example .LUXE).

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