Social Security numbers or bank account numbers are just identification numbers and have no other function but to identify individuals for the purposes of Social Security or banking.
A public key however has a corresponding private key which are mathematical linked to each other. These keys are used to create a transaction between parties by encrypting and decrypting data with these keys.
The randomly generated private key and the calculated public key are converted into a private address and public address.
More information about private and public keys, see the Elliptic Curve Key Pair Generation video, part | | of the Blockchain tutorial series.
There can be many reasons why a public and private key pair are converted into differently looking public and private addresses, for example:
In a later blog i will demonstrate how to create a bitcoin private and public address starting from a randomly generated number.A public key however has a corresponding private key which are mathematical linked to each other. These keys are used to create a transaction between parties by encrypting and decrypting data with these keys.
The randomly generated private key and the calculated public key are converted into a private address and public address.
More information about private and public keys, see the Elliptic Curve Key Pair Generation video, part | | of the Blockchain tutorial series.
There can be many reasons why a public and private key pair are converted into differently looking public and private addresses, for example:
- implement checksum digits in addresses to detect mistyping of the addresses.
- implement version number in addresses to differentiate between similar blockchain implementations (Bitcoin, Litecoin) or environments (Bitcoin, Bitcoin-Testnet).
- apply base-58 encoding to addresses to avoid mistyping of the addresses.
- apply hash algorithm to addresses to reduce the address sizes.
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