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judymcconville@roadrunner.com 2017-04-28 10:15:18 -07:00
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@ -43,7 +43,7 @@ image::images/mbc2_0401.png["privk_to_pubK_to_addressA"]
.Why use asymmetric cryptography (public/private keys)?
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Why is asymmetric cryptography used in bitcoin? It's not used to "encrypt" (make secret) the transactions. Rather, the useful property of asymmetric cryptography is the ability to generate _digital signatures_. A private key can be applied to the digital fingerprint of a transaction to produce a numerical signature. This signature can only be produced by someone with knowledge of the private key. However, anyone with access to the public key and the transaction fingerprint can use them to _verify_ the signature. This useful property of asymmetric cryptography makes it possible for anyone to verify every signature on every transaction, while ensuring that only the owners of private keys can produce valid signatures.
((("cryptography", "assymetric")))((("digital signatures")))Why is asymmetric cryptography used in bitcoin? It's not used to "encrypt" (make secret) the transactions. Rather, the useful property of asymmetric cryptography is the ability to generate _digital signatures_. A private key can be applied to the digital fingerprint of a transaction to produce a numerical signature. This signature can only be produced by someone with knowledge of the private key. However, anyone with access to the public key and the transaction fingerprint can use them to _verify_ the signature. This useful property of asymmetric cryptography makes it possible for anyone to verify every signature on every transaction, while ensuring that only the owners of private keys can produce valid signatures.
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[[private_keys]]