Without an account password or customer support, how can the blockchain know that you were the one who sent a transfer?
First, what it is: Digital signatures use a pair of keys. The private key creates the signature, and the public key verifies it. You cannot derive the private key from the public key.
The logic behind it: Signatures are secure because of the elliptic-curve discrete logarithm problem. It is quick to calculate the public key from the private key, but deriving the private key from the public key is practically impossible.
When sending $BTC , the wallet uses the private key to sign the transaction, and nodes across the network use the public key to verify the signature.
If you’re unfamiliar with a product, it’s best to steer clear. Trying it with a small amount is safer.
First, what it is: Digital signatures use a pair of keys. The private key creates the signature, and the public key verifies it. You cannot derive the private key from the public key.
The logic behind it: Signatures are secure because of the elliptic-curve discrete logarithm problem. It is quick to calculate the public key from the private key, but deriving the private key from the public key is practically impossible.
When sending $BTC , the wallet uses the private key to sign the transaction, and nodes across the network use the public key to verify the signature.
If you’re unfamiliar with a product, it’s best to steer clear. Trying it with a small amount is safer.
