What are private keys,mnemonics and passwords

Private Key A private key is a 64-bit hexadecimal string of letters and numbers. After you create a wallet, you enter your password to export your private key. There is only one private key for each account and it cannot be modified. Usually, private and public keys appear in pairs in a wallet. With a private key, you can generate a public key by a certain algorithm, and then generate an address from the public key by a certain algorithm, and this process is irreversible. On any wallet, by importing the private key and setting a new password you can import the assets from the previous A wallet into B wallet. For example, if you lose your cell phone, you can recover the assets by simply importing the private key. Mnemonics The emergence of mnemonics is due to the fact that the private key consists of a 64-bit string, which is inconvenient to record and easy to copy wrongly. In order to make it easier for users to remember and record, it is simplified into a mnemonic consisting of 12 words, with a space between each word. The mnemonic has the same function as the private key, i.e., it can be imported into the wallet by entering the mnemonic and setting a new passphrase. As with private keys, there is only one set of mnemonics for a wallet and they cannot be modified. Wallet Password When creating a wallet in TokenPocket, you need to set a password, which should be at least 8 characters long. The wallet password is mainly used for managing the wallet, e.g. when transferring money, or when importing a wallet with a private key/support word, the wallet password must be entered. The password can be changed or reset. If the original password is forgotten, it is possible to import the wallet with a private key or mnemonic and set a new password. The analogy with a bank account can be used to distinguish between them: Private key = bank card number + card PIN mnemonic = card number + card PIN Password = bank card PIN

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