What is the significance ot the makecert -sk keyname option?

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I am using makecert.exe to create an RSA certificate and I am wondering what the significance is of this option? -sk KeyName

The documentation says "Specifies the subject's key container location, which contains the private key. If a key container does not exist, it will be created"

But I don't know what that means. Is it used as some kind of seed for creating the certificate? This is my current command line:

makecert.exe -r -sr LocalMachine -ss my -a sha256 -pe -sky exchange -n "CN=Mycert"

Under what circumstances might I want to specify a KeyName?

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