A public key is a cryptographic keyCryptographic keys are mathematical values used to encrypt and decrypt data using cryptographic algorithms. Private keys (known only to the... used to encrypt data. Any party can use a public key to encrypt information. However, only the corresponding private keyA private key is a cryptographic number that allows individuals to sign transactions and create new receiving addresses for their... can decrypt the information. Generating a public key requires a cryptographic algorithmCryptographic algorithms are mathematical functions used for data encryption or decryption.. The same cryptographic algorithm (using different parameters) will also create the corresponding private key. In blockchainAs a distributed ledger technology (DLT), a blockchain is a digital ledger that can create an immutable record of transactions.... technology, digital signatures using public keys to verify the authenticity and integrity of transactions. Digital assetsDigital assets are items of value that can be stored and traded electronically, including cryptocurrencies, tokens, smart contracts, and other... and wallets also use public keys to prevent double spendingDouble spending is a fraud technique that involves using the same digital currency to make two or more separate purchases..... When a user wants to send digital currencyA digital currency is a medium of monetary exchange that only exists in electronic form and has no physical counterpart. to another user, they must prove they own the coins by signing the transactionA transaction is a record of an event that occurred in the past. Transactions typically occur during the course of... with their private key. The recipient of the coins can then verify the signature using the sender’s public key. Public keys also serve as receiving addresses for cryptocurrencyCryptocurrency is decentralized digital currency secured by cryptography. Cryptocurrency utilizes cryptographic protocols to record ownership and prevent counterfeits (when ownership... transactions.
