Blockchain Developer Certification Practice

What type of key is essential for accessing funds in an Ethereum account?

1. Public Key

2. File Key

3. Address Key

4. Private Key

The correct answer is: Private Key

In an Ethereum account, the private key is essential for accessing funds. The private key is a cryptographic key that allows the owner to sign transactions and control their assets on the Ethereum network. It is directly linked to the public key, which can be shared to receive funds, but it is the private key that provides the authority to send funds and manage the account. The private key must be kept secret and secure, as anyone with access to it can potentially access and manipulate the associated funds. This foundational aspect of cryptographic security is crucial in blockchain technology, ensuring that only the rightful owner can control their Ethereum account. Without the private key, it is impossible to initiate transactions or access the funds stored in that account.