Blockchain Wallets & Cryptographic Keys
A researcher’s guide to understanding wallet architecture, public/private key cryptography, seed phrases, and how to interact safely with blockchain wallets during study.
Public vs Private Keys
Every blockchain wallet is fundamentally a pair of cryptographic keys generated using asymmetric encryption:
Private Key: A 256-bit random number that gives complete control over funds in an address. It must never be shared with anyone — ever. Whoever has the private key has full access to the wallet.
Public Key: Derived mathematically from the private key. Used to generate the wallet address. Can be shared openly — knowing the public key does not give access to the funds.
Wallet Address
A wallet address is derived from the public key through a one-way hashing process. On TRC20 networks, addresses begin with “T” (e.g., TR7NHqjeKQxGTCi8q8ZY4pL8otSzgjLj6t). On Ethereum/ERC20 networks, they begin with “0x”.
Seed Phrases (Mnemonic)
A seed phrase (also called a mnemonic phrase or recovery phrase) is a human-readable representation of your wallet’s root private key — typically 12 or 24 words from the BIP-39 wordlist. Anyone with your seed phrase can regenerate your private key and access all funds across all derived addresses. Store it offline, never digitally, never shared.
Custodial vs Non-Custodial Wallets
Non-Custodial
You hold your own private keys. Full control, full responsibility. Examples: Trust Wallet, MetaMask, Tronlink.
Custodial
A third party holds keys on your behalf. Examples: Binance, Coinbase. Convenient but “not your keys, not your coins.”