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Blockchain Wallets

January 8, 2022 • ☕️ 1 min read

First of all there are basically 2 type of technics to create : asymmetric and symmetric cryptography

asymmetric cryptography(Public-key cryptography)

  • We need to use private and public key pairs for this technic.
  • We can share the public key to clients but private key is only for owner
  • We can use different cryptographic algorithms(RSA, ECDSA, ed25519…) while creating private and public key pair. Those are one way mathematical functions. So they private and public keys are not convertable
  • Public key encryption and Digital signatures

Bitcoin address is generated from the public part of an ECDSA key, hashed using SHA-256 and RIPEMD-160, processing the resulting hashes as described below, and finally encoding the key using a Base58 Checked encoding Create private and public keys with ECDSA-> hash with SHA-256 and RIPEMD-160 -> encode with Base58