How does ECDSA encryption work in the context of cryptocurrency transactions?

1 answers

• Nov 28, 2021 · 3 years ago
  ECDSA encryption is a cryptographic algorithm used in cryptocurrency transactions to ensure the security and integrity of the transactions. It works by generating a pair of keys: a private key and a public key. The private key is used to create a digital signature for each transaction, while the public key is used to verify the signature. This process ensures that the transaction is valid and cannot be tampered with. ECDSA encryption is widely used in cryptocurrencies like Bitcoin and Ethereum, and it plays a crucial role in maintaining the trust and security of the blockchain network.
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