January 2019
Intermediate to advanced
258 pages
7h 12m
English
Content preview from Blockchain for Business 2019
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Cryptographic techniques used in Bitcoin
Several cryptographic techniques are used to secure the Bitcoin blockchain, including:
- Public and private keys
- Hash functions
- Digital signatures
Any person who has ever used a cryptocurrency to make a transaction should be familiar with how keys work. Each user has a pair of keys (a public and a private one), which enable transactions on the network. You can see some examples of public and private key pairs in Bitcoin in the following screenshot:
The public key is used by the sender to encrypt information regarding the transaction, which then can be decrypted only by the receiver with his or her ...
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