> For the complete documentation index, see [llms.txt](https://hub.bsvblockchain.org/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://hub.bsvblockchain.org/higher-learning/bsv-academy/bsv-basics-protocol-and-design/coins-and-transactions-bitcoin-protocol-and-design/transactions-and-key-management.md).
# Transactions and Key Management
Understanding how **transactions** occur within the BSV blockchain is essential, as it is fundamentally a digital cash system. Transactions involve the transfer of coins from one owner to another, and this process is facilitated through the use of **public and private key pairs**.
* **Public Key**: Similar to a username, it is shared with others to receive coins.
* **Private Key**: Comparable to a password, it is kept secret and is used to authorize the transfer of coins.
When **Owner 1** wishes to send coins to **Owner 2**, they obtain **Owner 2's public key** and use their **own private key** to authorize the transaction. Once the coins are transferred, **only Owner 2** can use their **private key** to send those coins to another party. This system of key management ensures security and traceability of transactions while preserving user privacy.
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