How does BTC use PGP encryption to ensure the security of transactions?

3 answers

• Teoh Zhen YingJul 24, 2020 · 5 years ago
  Bitcoin uses PGP (Pretty Good Privacy) encryption to secure transactions. PGP encryption is a widely used encryption method that ensures the confidentiality and integrity of data. In the context of Bitcoin, PGP encryption is used to create digital signatures for transactions. When a transaction is made, the sender's private key is used to encrypt the transaction data, creating a digital signature. This signature is then verified by the recipient using the sender's public key. If the signature is valid, it means that the transaction has not been tampered with and can be considered secure.
  594

  297
• Avraj AccountingJan 21, 2023 · 3 years ago
  BTC relies on PGP encryption to protect transaction data. PGP encryption uses a combination of symmetric and asymmetric encryption algorithms to ensure the confidentiality and authenticity of the data. When a transaction is initiated, the sender's private key is used to encrypt the transaction data, creating a digital signature. This signature is then verified by the recipient using the sender's public key. If the signature matches, it means that the transaction has not been altered during transmission and can be trusted. PGP encryption adds an extra layer of security to Bitcoin transactions, making it difficult for unauthorized parties to tamper with the data.
  669

  223
• Jun ChenJun 21, 2021 · 4 years ago
  PGP encryption plays a crucial role in securing Bitcoin transactions. When a transaction is created, the sender's private key is used to encrypt the transaction data, generating a digital signature. This signature is then verified by the recipient using the sender's public key. If the signature is valid, it means that the transaction has not been modified and can be considered secure. PGP encryption ensures the confidentiality and integrity of the transaction data, making it extremely difficult for hackers or malicious actors to tamper with the information. By utilizing PGP encryption, Bitcoin provides a robust and secure framework for conducting transactions in the digital realm.
  689

  173