Private Key The private key is a 64-bit hexadecimal string of letters and numbers. After creating the wallet, enter the password to export the private key. An account has only one private key and cannot be modified. Usually, the private key and the public key in a wallet appear in pairs. With the private key, the public key can be generated through a certain algorithm, and then the address can be generated through a certain algorithm through the public key. This process is irreversible.
On any wallet, by importing the private key and setting a new password, the assets of the previous A wallet can be imported into the B wallet. For example, if the mobile phone is lost, the assets can be recovered simply by importing the private key.
Mnemonic Phrase The appearance of the mnemonic phrase is that the private key consists of a 64-bit string, which is inconvenient to record and easy to copy. In order to facilitate the user's memory and recording, it is simplified into a mnemonic composed of 12 words, and there is a space between each word. The mnemonic and the private key have the same function, that is, just enter the mnemonic and set a new password. , you can import the wallet. Like private keys, a wallet has only one set of mnemonics and cannot be modified.
Wallet Password When creating a wallet in MetaTdex, you need to set a password with no less than 8 characters. The wallet password is mainly used to manage the wallet. For example, you need to enter the password when transferring money; when importing the wallet with the private key/mnemonic, you must enter the wallet password. Passwords can be modified or reset. If you forget the original password, you can use the private key or mnemonic to import the wallet and set a new password at the same time.
It can be compared with bank accounts to distinguish: Private key = bank card number + bank card password Mnemonic = bank card number + bank card password Password = bank card password