From the course: Blockchain Programming in iOS Using Swift
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Public and private keys
From the course: Blockchain Programming in iOS Using Swift
Public and private keys
- [Narrator] Let's go ahead and talk about public and private keys. We already know that the ledger consists of transactions from the users. Now these transactions can be send $20 from John to Mary, send $15 from Mary to Steve, and so on. Each of these transaction is signed by the person who is approving these transaction like John, Steve, and Mary. These signatures are called digital signatures. In order to create a digital signature you must have a private key as well as a public key. Now a public key as well as a private key is a 256 hash keys. That means that these bits, zeros and ones, can run up to 256 characters. When you need to sign a message of a transaction, you use the formula. You pass in the message which is the actual transaction and you sign it with your own private key which creates a signature. Now remember not to share your private key with anyone. That's why it's called a private key so keep it safe. Now if you need to verify that it is a legitimate signature what…
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