The Importance of Address in Blockchain

Address is Location to and from which you can send cryptocurrency, in the form of a string of letters and numbers.

What is cryptocurrency address?

A crypto address is a series of symbols that represents a wallet that can send and receive cryptocurrency. It is similar to an address in real life, an email or a website. All addresses are unique and denote the location of the wallet in the blockchain.

In most cases, blockchain addresses are hard to read because they look like long random strings of letters and numbers. However, they are all unique, which does not pose a problem for computer networks.

Cryptocurrency addresses are public, so you can use a blockchain explorer to view transactions in and out of the address. Also you can see the number of assets the address has. The only exceptions are privacy-based blockchains (such as Monero and Grin).

Despite being public, most addresses are anonymous (pseudo-anonymous, to be precise) because the person who owns the address usually does not give his or her real name. Nevertheless, there are cases where the addresses and the person or organization behind them are known: usually the exchanges and the owners or founders of the token projects.

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