Public key and private key
3 يناير 2022 2021-12-31 0:53Public key and private key
In managing bitcoin portfolio, what’s the role of the private key?
This key works as a password and determines the ownership of the crypto asset
The role of the private key , is that the person has a
private key that only he knows and uses to spend from his wallet
Private keys secure the bitcoin network, they sre noticing, they work as an password to decrypt the data
private keys play a fundamental role in securing the Bitcoin network they are nothing but a digital signature that prevents forgery in Bitcoin transactions
The private key has a secure benefit as it helps in approving the ownership of the wallet. This use of cryptography and current computational limitations to break this cryptography bolster the security of cryptocurrency transactions. Every transaction is recorded publicly so it’s very difficult to copy Bitcoins, make fake ones or spend ones you don’t own
