What is the relation between the bitcoin address and the corresponding private key? Just wondering how do get the address given that we store only a public key? What is the relation between them? Is address a simple hash of private key? If yes, what hashing algorithm is used?
A Bitcoin address is a hash of the public key. The Bitcoin wiki explains the exact (complicated) procedure in great detail. In brief, it involves hashing the public key and includes a checksum. The private key and public key are mathematically related.


If you have the private key, you can easily calculate the public key and address.
If you have the public key, you can easily calculate the address, but not the private key.
If you have the address, you cannot calculate either key.