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Wallet
xavierlu edited this page Sep 24, 2020
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A wallet has two keys, namely public and a corresponding private key. Public/private key pairs are a part of asymmetric cryptography which we will use to create digital signatures. I strongly recommend watching this 4 minutes video to understand how asymmetric cryptography work.
Digital signatures allow users to verify the miner which created the block and the transaction. Once a data is signed/encrypted using the private key it can only be verified/decrypted using the public key.
The public key is known to the network and it also serves as the address of the wallet. The private is kept private to the miner. If you lose it, you are screwed.