WEBVTT

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A wallet manages keys. An address is a public destination or identifier used on a network.

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They are related, but not the same thing.

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A private key authorises actions through signatures.

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In many wallets, a recovery phrase can recreate the keys.

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A network maintains its own record.

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A bridge connects activity across networks and introduces additional technical and trust risks.

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A smart contract is a program on a blockchain.

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DeFi uses such programs for financial activity. Understanding the words helps you inspect the risks.