How does a public key appear in the world of digital currencies?

3 answers

• Mahenoor MerchantSep 22, 2024 · 10 months ago
  A public key is a cryptographic code that is used to encrypt and decrypt data in digital currency transactions. It is a unique identifier that is associated with a specific digital wallet. When a user wants to send digital currency to another user, they use the recipient's public key to encrypt the transaction information. The recipient can then use their private key to decrypt the transaction and access the funds. The public key ensures the security and integrity of digital currency transactions by providing a secure way to verify the authenticity of the sender and recipient.
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• limaoDec 29, 2020 · 5 years ago
  The public key is like the address of a digital wallet. It is a long string of alphanumeric characters that is used to identify the wallet and the owner of the wallet. When you want to receive digital currency, you share your public key with the sender. The sender then uses your public key to encrypt the transaction information and send it to you. Only you can decrypt the transaction using your private key. This ensures that only the intended recipient can access the funds and provides a secure way to transfer digital currency.
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• Fatima BilalMay 08, 2022 · 3 years ago
  In the world of digital currencies, a public key is a crucial component of the cryptographic system that ensures the security and integrity of transactions. It is a unique identifier that is generated through complex mathematical algorithms. When a user wants to receive digital currency, they share their public key with the sender. The sender then uses the public key to encrypt the transaction information, which can only be decrypted using the corresponding private key. This ensures that only the intended recipient can access the funds and provides a secure and transparent way to transfer digital currency.
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