# Private keys

`kaal:entity:private-keys`

**Status.** derived

This node is assembled mechanically from the 5 claims that carry the concept tag `private-keys`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

5 claims across 1 works, 2021 to 2021.

**2021**

- [3936876-005](https://wulfkaal.github.io/claims/3936876-005) [definitional/asserted] -- Custody of a digital asset is not physical possession but ownership and control over a digital asset wallet, which in practice means holding the private keys and bearing responsibility for keeping the funds safe.
  > Custody of digital assets is typically associated with ownership and control over a digital asset wallet and its assets. Such ownership and control over a digital asset wallet typically means holding the private keys and the responsibility of keeping funds safe.
  Wulf A. Kaal, Hayley Howe, Custody of Digital Assets (2021). SSRN: https://ssrn.com/abstract=3936876
- [3936876-010](https://wulfkaal.github.io/claims/3936876-010) [failure/argued] *(failure mode)* -- A private key differs from a password in that it is immutable and cannot be reset, so if the key is lost or stolen access to the digital asset may be permanently lost.
  > However, private keys are distinguishable from a password in that a private key is immutable – it cannot be reset.82 If a user loses their private key or if the private key is stolen, access to the digital asset may be lost.
  Wulf A. Kaal, Hayley Howe, Custody of Digital Assets (2021). SSRN: https://ssrn.com/abstract=3936876
- [3936876-011](https://wulfkaal.github.io/claims/3936876-011) [failure/argued] *(failure mode)* -- Hot storage buys easy access and quick transferability of digital assets at the cost of exposure to cyber attacks and to the difficulty of keeping private keys safe.
  > Hot storage ensures the easy access and quick transferability of digital assets but is also subject to possible asset security issues in the form of cyber attacks or issues with keeping private keys safe.
  Wulf A. Kaal, Hayley Howe, Custody of Digital Assets (2021). SSRN: https://ssrn.com/abstract=3936876
- [3936876-016](https://wulfkaal.github.io/claims/3936876-016) [empirical/evidenced] -- As of 2017, 73 percent of digital asset exchanges took custody of their users' private keys while only 23 percent let users maintain control over their own keys.
  > As of 2017, 73 percent of digital asset exchanges took custody of private keys while 23 percent let users maintain control over their keys.
  Wulf A. Kaal, Hayley Howe, Custody of Digital Assets (2021). SSRN: https://ssrn.com/abstract=3936876
- [3936876-037](https://wulfkaal.github.io/claims/3936876-037) [mechanism/argued] -- While the majority of cryptocurrency spot exchanges require ownership to be surrendered in order to transact, decentralized exchanges introduce the ability for users to transact without exposing their private keys to vulnerability.
  > While the majority of cryptocurrency spot exchanges require ownership to be surrendered in order to transact, DEXs are introducing the ability for users to transact without exposing private keys to vulnerability.
  Wulf A. Kaal, Hayley Howe, Custody of Digital Assets (2021). SSRN: https://ssrn.com/abstract=3936876

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/private-keys.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.