From the course: Blockchain and Smart Contracts Security
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Cryptography: Keys and addresses
From the course: Blockchain and Smart Contracts Security
Cryptography: Keys and addresses
- [Instructor] Blockchain security features, such as consensus, and immutability, as well as many other features rely on several cryptographic constructs. Let's start with the one that is closest to the end user: the cryptographic keys and the blockchain addresses. You'll see both of these constructs used heavily in both Bitcoin and Ethereum blockchains, as well as in smart contracts. Blockchain uses public and private key pairs for use cases, such as encryption, proving the identity of a user and non-repudiation. There are many algorithms historically used for public key cryptography, also known as asymmetric cryptography. Blockchain, however, uses elliptic cryptography or ECC to generate private and public key pairs. A private key is a key you, that is the end user, use to prove that you are the owner who really initiated a transaction. You never publish that key and always keep it secret. In fact, your private key…
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