A blockchain address is a unique sequence of numbers and letters and functions very much like an email address. It refers to a specific destination on the network where cryptocurrency can be sent to, and it can be used only once. The idea is to give a person a unique address every time he or she is to receive crypto.

Let’s say you owe your friend Bob some money and he’d like you to repay him with Bitcoin using the wallet app installed on his mobile phone. Bob generates a new and unique bitcoin address using his wallet app, which allows you to send Bitcoin for only this occasion.

People also searched for…