Sirwin
Sirwin

Basic knowledge of cryptocurrency

By Sleo821 | Sleo_777 | 12 Jun 2020



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Bitcoin uses elliptic curve algorithm to generate public and private keys

The secp256k1 curve is selected
The generated public key is a large number of 33 bytes, and the private key is a large number of 32 bytes
The bitcoin address we used when receiving and sending bitcoin was obtained after the public key was processed by the algorithm (I really feel strong)

 

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1. Private key

The private key is a random number randomly generated by the computer, containing about fifty numbers and upper and lower case letters,
No fixed logic and rules

You can use it as your bank's password and login ID

 

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2. Public key (public key)

The public key is generated using "elliptic curve cryptography" to encrypt the private key, and the two correspond to each other
The user signs the Bitcoin transaction with the private key, and the miner verifies the signature with the public key. After about six blocks are verified
Confirmed as irreversible, the transaction is considered completed
This process is irreversible, which is very important
It can be said that the anonymity and security of the entire cryptocurrency cryptography are based on this foundation

You can use it as the account name

 

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In general transactions, when receiving BTC, you only need to provide your Address.

The key consists of a public key and a private key. The public key is like a bank account number, and the private key is like a PIN code that controls the account

 

 

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Private key→Public key→Bitcoin address

The private key is processed to generate the public key

The public key cannot be reversed to the private key

The public key is processed to generate a public key hash

The public key hash generates a Bitcoin address in a customized version of Bitcoin

Public key hash cannot be reversed to public key


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But the wallet address and the public key hash are interlinked

"Private key" is used to generate "public key" and "wallet address"

Possessing the "private key" means having the money in the wallet, whatever you want to do
So protecting the "private key" is the most importan

 

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Sleo821
Sleo821

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Sleo_777
Sleo_777

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