Blockchain Academy
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Private key

There are pairs of keys in the public key cryptographic algorithm, which is an asymmetric algorithm that is required for a digital signature to verify the transactions: public keys and private keys. The private keys are composed of random numbers. To make these random numbers, a cryptographically secure pseudo-random number generator must be used and these should never be duplicated.

In the case of Bitcoin, it is equivalent to finding a value from one to 2 ^ 256. It generates a 256-bit, non-redundant random number, which is then represented by 64 hexadecimal digits.

Also private key can be encoded as follows.