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Stanislav Gordienko2017-12-01 07:37:58
bitcoin
Stanislav Gordienko, 2017-12-01 07:37:58

Explain how the private key works if it is only kept by me?

Hello. I can’t figure out the moment how the private key works, and how the system knows that the transaction is authentic and made by the owner of the wallet. Where can I read about it in plain language. Thank you.

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2 answer(s)
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Dimonchik, 2017-12-01
@dimonchik2013

the system does not know, it does not care who signs
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Andrey Dugin, 2017-12-01
@adugin

1) Private and public key form a matching pair.
2) Encrypted with a private key can be decrypted by knowing the public key.
3) Encrypted by the public key can be decrypted by knowing the private key.
4) The fact that the data is encrypted or signed with a private key indicates that it was done by someone who knows the private key. It is assumed that the owner keeps the private key secret and is the only one who knows it.

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