Address

Address is a unique string of letters and numbers that acts like a digital mailbox or bank account number on a blockchain. It’s where you send, receive, or store cryptocurrencies (like Bitcoin or Ethereum) or other digital assets, such as NFTs. Think of it as your personal address in the blockchain world—others can send you crypto or NFTs to this address, and you can send assets from it.

For example, a Bitcoin address might look like this: 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa. An Ethereum address might look like: 0x742d35Cc6634C0532925a3b844Bc454e4438f44e. Each address is tied to a specific blockchain and generated using cryptography, ensuring it’s secure and unique.

Address is typically derived from a private-public key pair using cryptographic algorithms. You take the Public key and process it with fancy cryptographic algorithm, you will get Address.

When you are transferring crypto or other crypto assets like NFT to others, single typography of their address can send your funds to some random address and it might be lost forever.