Public Key Cryptography

Unlock the essentials of crypto terminology related to Public Key Cryptography, where keys are used for secure communication and digital signatures.

Public key cryptography is a method that uses a pair of keys for secure communication and transactions. One key is known as the public key, and the other is the private key. The public key is shared openly and can be used by others to send information securely. The private key, however, is kept secret and allows the owner to decrypt the information or sign transactions. This ensures that only the person with the private key can access their funds or initiate transfers, providing a high level of security.In this system, when someone wants to send cryptocurrency to another person, they use the recipient’s public key. The transaction is then signed with the sender’s private key. This process maintains the integrity of the transaction, making it almost impossible for anyone to alter it without having access to the private key.Overall, public key cryptography plays a crucial role in securing transactions, verifying identities, and ensuring that user funds remain safe from unauthorized access.

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