How does public vs private key cryptography ensure the security of digital transactions?

6 answers

• Abhishek AnandJul 11, 2021 · 5 years ago
  Certainly! Public and private key cryptography plays a crucial role in securing digital transactions, especially in the realm of cryptocurrencies. When a user initiates a transaction, they use their private key to create a digital signature. This signature is unique to the transaction and serves as proof of authenticity. The private key is kept secret and known only to the user, ensuring that only they can create a valid signature. On the other hand, the public key is freely available and is used by others to verify the digital signature. By comparing the signature with the public key, anyone can confirm the authenticity of the transaction without needing access to the private key. This ensures that transactions cannot be tampered with or forged, providing a high level of security in digital transactions.
  816

  408
• Dogan LeMay 06, 2024 · 2 years ago
  Digital transactions rely on public and private key cryptography to ensure their security. When a user wants to send a cryptocurrency to another user, they use their private key to create a digital signature. This signature is unique to the transaction and acts as a proof of authenticity. The private key is kept secret and known only to the sender, while the public key is shared with others. The recipient can use the public key to verify the digital signature and confirm the authenticity of the transaction. This cryptographic process ensures that transactions cannot be altered or tampered with, providing a secure environment for digital transactions.
  658

  220
• Jhon Fredy Márquez CárdenasMar 06, 2022 · 4 years ago
  As an expert in the field, I can assure you that public and private key cryptography is a fundamental aspect of ensuring the security of digital transactions. When it comes to cryptocurrencies, such as Bitcoin, public and private keys are used to create a secure and tamper-proof system. The private key is kept secret and is used to generate a digital signature for each transaction. This signature is then verified using the corresponding public key. By using this cryptographic process, the security of digital transactions is ensured, as it is virtually impossible to forge or tamper with the digital signatures without access to the private key.
  650

  163
• Self VintherSep 04, 2024 · a year ago
  Public and private key cryptography is the backbone of secure digital transactions, including those in the world of cryptocurrencies. When a user wants to make a transaction, they use their private key to create a unique digital signature. This signature is then verified by others using the public key associated with the sender. By using this cryptographic system, the security of digital transactions is guaranteed. It ensures that transactions cannot be altered or tampered with, providing a reliable and secure method for conducting digital transactions.
  559

  112
• Andy AndyJul 12, 2024 · 2 years ago
  In the world of cryptocurrencies, public and private key cryptography is a vital component in ensuring the security of digital transactions. When a user initiates a transaction, they use their private key to create a digital signature. This signature acts as proof of authenticity and is verified by others using the public key. By using this cryptographic process, the security of digital transactions is maintained, as it is virtually impossible to forge or tamper with the digital signatures without access to the private key. This ensures that cryptocurrencies can be safely and securely exchanged between users.
  616

  103
• Min OoOct 24, 2020 · 5 years ago
  Public and private key cryptography is a key factor in securing digital transactions, including those involving cryptocurrencies. When a user wants to make a transaction, they use their private key to create a digital signature. This signature is unique to the transaction and serves as proof of authenticity. The public key, which is freely available, is used by others to verify the digital signature. By using this cryptographic system, the security of digital transactions is ensured, as it is virtually impossible to forge or tamper with the digital signatures without access to the private key. This provides a high level of security for digital transactions involving cryptocurrencies.
  692

  99