Explaining Cryptography in Blockchain

Digital Signature

In blockchain, the transactions require a valid signature to be included in the network. Transactions are “digitally” signed. The digital signature is based on public-key cryptography where each user got a key pair consisting of a private key (secret) and public key. While, the public key is similar to a bank account number, the private key is similar to the secret PIN. The public key is used to receive cryptocurrency, and the private key is used to sign transactions to send cryptocurrency.

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