Public and private keys are used to secure transactions and access blockchain accounts from "summary" of Blockchain Technology Explained by Alan T. Norman
When it comes to securing transactions and accessing blockchain accounts, the use of public and private keys is essential. These keys are cryptographic in nature, meaning they are created using complex algorithms to ensure high levels of security. Each user in the blockchain network is assigned a set of keys - a public key and a private key. The public key is shared openly with others in the network, allowing them to verify the user's identity when conducting transactions. It is like a username that everyone can see. On the other hand, the private key is kept confidential and known only to the user. It is like a password that should be safeguarded at all costs. When a user wants to send a transaction in the blockchain network, they use their private key to sign the transaction. This signature is then verified by others in the network using the user's public key. If the signature matches, the transacti...
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