Skip to content

Public Key

    A public key is a cryptographic key used to encrypt data. Any party can use a public key to encrypt information. However, only the corresponding private key can decrypt the information. Generating a public key requires a cryptographic algorithm. The same cryptographic algorithm (using different parameters) will also create the corresponding private key. In blockchain technology, digital signatures using public keys to verify the authenticity and integrity of transactions. Digital assets and wallets also use public keys to prevent double spending. When a user wants to send digital currency to another user, they must prove they own the coins by signing the transaction 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 cryptocurrency transactions.