Explain the Relationship between a Private Key, Public Key, and Wallet Address

The private key is a secret, large random number used to sign transactions, proving ownership of funds. The public key is mathematically derived from the private key using Elliptic Curve Cryptography (ECC) and is publicly shared.

The wallet address is then derived from the public key using a one-way hashing process (SHA-256 and RIPEMD-160). You can derive the public key from the private key, and the address from the public key, but not vice-versa.