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