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public key

The public key is one of the key concepts related to cryptography and security in the world of cryptoassets. It is one of the two keys used in asymmetric encryption, alongside the private key. The public key is used to encrypt data or messages that only the person possessing the corresponding private key will be able to decrypt. This technology provides a secure way of communication and information exchange on the network, protecting them from unauthorized access.

How does a public key work?

In an asymmetric encryption system, the public key and private key form a pair that enables secure communication. The public key is shared publicly, so anyone who wants to send encrypted data to the key owner can use it for encryption. Only the person possessing the private key can decrypt this data. Therefore, even if the public key is intercepted by a third party, the data remains secure because only the private key allows for decryption.

Application of public key in cryptoassets

In the cryptoassets market, public keys play a crucial role in ensuring transaction security. Each user has their unique public key used for identification and secure exchange of digital assets. When transacting with cryptocurrencies, the wallet address is represented by the public key, while transaction signing is done using the private key. This system enables a secure and irreversible exchange of cryptoassets between users.

Summary

The public key is an essential element of the cryptographic infrastructure, ensuring the security of transactions and communication in the world of cryptoassets. By implementing an asymmetric encryption system, it is possible to securely transmit data and conduct transactions without revealing the private key. In this way, the public key forms the foundation of a secure and reliable blockchain infrastructure on which numerous cryptocurrencies and tokens rely.


20 December 2024 | 15:01

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