A View Key is a component of a cryptocurrency system that allows users to share access to certain information about their transactions without compromising the security of their funds. It is a private key that grants permission to view specific details of a user’s account activity, such as incoming and outgoing transactions, balances, and other relevant data. By sharing the View Key with a third party, such as an auditor or a friend, users can provide transparency while still keeping their funds secure.
The View Key works by allowing a designated party to access encrypted information on the blockchain that is only visible with the specific key. This means that the party with the View Key can see the requested information without being able to make any changes to the account or access the funds themselves. It provides a balance between privacy and transparency, allowing users to control who has access to their financial data while still maintaining security and confidentiality.
