How is public key encryption used to protect sensitive information in blockchain technology?

3 answers

• RabirtoSep 16, 2020 · 5 years ago
  Public key encryption is a crucial component of blockchain technology. It ensures the security and privacy of sensitive information by using a pair of keys: a public key and a private key. The public key is used to encrypt the information, while the private key is used to decrypt it. This means that only the intended recipient, who possesses the private key, can access the encrypted information. The public key, on the other hand, can be freely shared with others without compromising the security of the information. By using public key encryption, blockchain technology ensures that sensitive data, such as transaction details and user identities, remain secure and tamper-proof.
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• Bech RitterAug 02, 2022 · 3 years ago
  In blockchain technology, public key encryption plays a vital role in protecting sensitive information. When a user wants to send a transaction, they use their private key to create a digital signature. This signature is then attached to the transaction data and can be verified by anyone using the user's public key. This process ensures that the transaction is authentic and has not been tampered with. Additionally, public key encryption is used to encrypt the user's identity, making it difficult for anyone to link their real-world identity to their blockchain activities. This level of encryption provides a high level of security and privacy in blockchain transactions.
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• Jennifer SimonJul 29, 2020 · 5 years ago
  Public key encryption is an essential security measure in blockchain technology. It allows for secure communication and protects sensitive information from unauthorized access. When a user wants to send a transaction, they use their private key to encrypt the transaction data. This encrypted data can only be decrypted using the user's public key. This ensures that only the intended recipient can access the transaction details. Public key encryption also provides a way to verify the authenticity of transactions and prevent tampering. By using public key encryption, blockchain technology ensures the integrity and security of sensitive information.
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