Cryptocurrency: Understand the difference between the public key and the private key
The cryptocurrency world has invaded the world, many people investing their money hardly earned in digital currencies such as Bitcoin, Ethereum and others. However, without a good understanding of the functioning of these cryptocurrencies, it may be intimidating to navigate the complex ecosystem. In this article, we will plunge into the fundamental concepts of public key encryption regarding private keys encryption, highlighting the benefits of the security that each offers.
What are public keys?
A public key is an exclusive identifier attributed to an individual or entity when they create or enter a digital network, such as a blockchain. When you sign a message using your public key, it is encrypted and transmitted safely on the internet. The recipient key of the recipient can decipher the message, allowing them to access the original content.
In the context of cryptocurrency, each user has an exclusive digital address (also known as a public address or portfolio address) that serves as a “public key”. This address is used to send funds to others and is visible publicly. However, to receive these funds, you must use your private key.
What are the private keys?
A private key, on the other hand, is a secret set of instructions used by individuals or organizations to access their cryptocurrency accounts. When creating an account or joining a network, such as a blockchain, you assign an exclusive private key to you. This private key is kept confidential and accessible only to the authorized parties.
MAIN DIFFERENTIATED: PUBLIC KEY VS PRIVATE
To summarize the main differences between public key encryption and private keys encryption:
* Objective : A public key serves as an identifier for a user or entity, while a private key gives your cryptocurrency account.
* Cryptography
: When you use your public key, it is encrypted, which means you can decipher the message alone. With your private key, you can decipher all the original content.
* Security : Public keys are usually longer and harder to guess than private keys. This makes them safer against unauthorized access.
How cryptocurrency transactions work
Here is a simplified example of the operation of cryptocurrency transactions:
- When you send funds from your portfolio address (public key) to the portfolio of another user (public key), your transaction is encrypted using your public key.
- The recipient key of the recipient decipher the encrypted message, allowing them to access their own funds and launch the transaction.
- After the two parts confirm the transaction, it is transmitted to the blockchain network.
Conclusion
In conclusion, understanding the difference between public and private keys can considerably improve your cryptocurrency experience. When choosing a solid and unique public key to your account and keeping your key confidential private, you can guarantee secure transactions and protect your digital assets.
However, it is essential to remember that security not only concerns the technical aspects of encryption; It is also a matter of using renowned exchanges, storing backgrounds safely and being aware of possible phishing blows and other security threats. Although cryptocurrency continues to gain popularity, it will be crucial for users to remain informed and vigilant to protect themselves from cyberreças.
Best practices to use public and private keys
To ensure safe use of public keys and private keys:
- Use solid and exclusive addresses (public key) for each account.
- Store your private keys using a hardware portfolio or password management system.
- Be careful when sharing or receive cryptocurrency transactions to avoid phishing blows.
- Update software and operating systems regularly to avoid vulnerabilities.