Key
Hash Ahead uses public-private key cryptography to protect user assets. The public key is used as the basis of the Hash Ahead address - that is, it is visible to the public and used as a unique identifier. The private (or "secret") key should only be accessible to the account owner. Private keys are used to "sign" transactions and data so that cryptography can prove that the holder approves certain operations of a particular private key.
Hash Ahead's keys are generated using Elliptic curve cryptography.
Elliptic Curve Cryptography (ECC) is one of the most commonly used encryption algorithms today, which utilizes the discrete logarithm problem on elliptic curves to generate public and private keys. The ECC algorithm is more efficient and secure than the traditional RSA algorithm, so it is widely used in many blockchain and cryptocurrency projects.
When you use your wallet to send cryptocurrency to someone else, your private key is used to sign the transaction, proving that the transaction was authorized by you. When signing a transaction, the private key is hashed together with the transaction content to generate a digital signature. The recipient can use the public key to verify the digital signature to ensure the transaction is valid and authorized.
In summary, the private key is generated on the blockchain with an asymmetric encryption algorithm and used to encrypt and sign transactions. Elliptic Curve Cryptography (ECC) is a commonly used encryption algorithm used to generate public and private keys and to ensure the security and validity of cryptocurrency transactions.
Last updated