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CH04::terminology: keys prove "control" of BTC, not "ownership"

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David A. Harding 2023-02-08 23:18:34 -10:00
parent 5fd0f159ca
commit f11b3971d2
1 changed files with 5 additions and 5 deletions
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@ -114,9 +114,9 @@ signatures.
generation")))((("warnings and cautions", "private key protection")))A
private key is simply a number, picked at random. Ownership and control
over the private key is the root of user control over all funds
associated with the corresponding Bitcoin address. The private key is
used to create signatures that are required to spend bitcoin by proving
ownership of funds used in a transaction. The private key must remain
associated with the corresponding Bitcoin public key. The private key is
used to create signatures that are used to spend bitcoin by proving
control of funds used in a transaction. The private key must remain
secret at all times, because revealing it to third parties is equivalent
to giving them control over the bitcoin secured by that key. The private
key must also be backed up and protected from accidental loss, because
@ -201,11 +201,11 @@ at elliptic curve cryptography in a bit more detail.
Elliptic curve multiplication is a type of function that cryptographers
call a "trap door" function: it is easy to do in one direction
(multiplication) and impossible to do in the reverse direction
(division). The owner of the private key can easily create the public
(division). Someone with a private key can easily create the public
key and then share it with the world knowing that no one can reverse the
function and calculate the private key from the public key. This
mathematical trick becomes the basis for unforgeable and secure digital
signatures that prove ownership of bitcoin funds.
signatures that prove control over bitcoin funds.
====
[[elliptic_curve]]