Address

The key and location of a wallet on the blockchain that is represented by complex strings of text.

An address is a combination of alphabetic characters and numbers that serves as identification for a user’s wallet on the blockchain. With this address, a user can send crypto assets from their wallet or receive them from other users. Thus, addresses serve the same identificational purpose on blockchains as they do in real life. However, blockchain addresses are computerized nodes that double as encrypted access keys.

The blockchain/cryptocurrency application of addresses is also very similar to how computers identify themselves on networks. This is why every wallet address on the blockchain looks complicated to users but is a requirement for users to carry out transactions on the network.

A good example of an address is 5DYx8h4U7giphsvhtwo9pa01gafvaeo75ak.