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How does ECDSA encryption work in the context of digital currencies?

NoFaceFeb 20, 2025 · 5 months ago1 answers

Can you explain how ECDSA encryption works in the context of digital currencies? I'm curious about the technical details and how it ensures the security of transactions.

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  • Jamal ZabetanJul 30, 2024 · a year ago
    ECDSA encryption is a cryptographic algorithm used in digital currencies to secure transactions. It works by generating a public-private key pair using elliptic curve mathematics. The private key is kept secret by the user, while the public key is shared with others. When a transaction is made, the sender uses their private key to create a digital signature, which is then verified by the recipient using the sender's public key. This ensures that the transaction is legitimate and has not been tampered with. ECDSA encryption is a fundamental component of digital currencies' security mechanisms.

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