What is a public key?Report
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What is a public key?
The private and public key pair can be compared to the password and the bank account. The term “public” suggests that the public key or the Bitcoin address is a unique personal address, which is shared in the blockchain and that everyone can see it, while the private key acts as a password, that you have to keep for yourself.
Keys are inseparable, based on mathematical functions (such as exponentiation of prime numbers, elliptic curves, hash functions and many others) and related to a complex algorithm that is irreversible, in other words ‘a way:
Private Key → Public Key / Bitcoin Address
The public key contains a string of letters and numbers, usually generated from the private key, that identifies the sender or recipient of the funds. The common public key (Bitcoin address) starts with the number 1 and requires a private key to access the funds. The newer version of the public key, called the multi-signature public key, begins with the number 3 and, to reach the coins, more than one private key must be provided.
|The public key (Bitcoin address)||1DSsgJdB2AnWaFNgSbv4MZC2m71116JafG|
|Multi-signature public key||3J65t1WtEk25CNmQviecrnyiWadfRhWNLy|
The public keys are generated from 26 to 34 characters and, to avoid visual ambiguity and fraud, the capital letter “O” and the “0”, the capital letter “I”, the lowercase letter “l” are excluded from all.
0Bitcoin 8 months 0 Answers 238 views 0