Blockchain and Cryptocurrency Explained | Online Course Support

What is the key relationship between public and private keys used in blockchains?

ByAdmin September 12, 2021September 12, 2021

Taken together, public-private key pairs serve as the one and only identifier for a user of the blockchain, because it is impossible to create more than one key pair that uniquely identifies an individual

The public key is used to encrypt highly sensitive information while the private key is used to receive sensitive information

The keys are generated in pairs, therefore making it easy to infer the public key from the private key, and vice versa

Anything encrypted with public key can only be decrypted with private key, and anything encrypted with private key can only be decrypted with public key

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