Continuing on my education in cryptography and Bitcoin I'm learning today that while Elliptical Curve Cryptography (aka Elliptic Curve Digital Signature Algorithm or ECDSA) using a specific curve being 'secp256k1'.
In a coding script like Python or whatever you're into you could use libraries and functions to create a set of keys, use them to verify a string or in BTC a transaction.
In our coding script we could then verify that our message or transaction was created using using a private key associated with the public key. If the mathematics being carried out in these functions and libraries checks out then we can say our message or transaction has been signed by a (secret) private key mathematically proven to belong to an associated public key - publicly available to an end user.
In this way the maths and code behind a BTC transaction allows us to sign a transaction without revealing out secret key (which gives us ownership over it) while allowing the person we are sending BTC (value) to can see that it was indeed the key associated with that private key which signed the transaction and hence gives the user assurance that the transaction was legitimate.
At least this is my understanding so far... #studyBitcoin and the journey continues. makes me wonder is this what Nodes are actually checking when they run consensus rules against blocks mined by miners to be added to the time chain? Guess Ill find out soon enough.
#plebchain #coffeechain #bitcoin #nostr #grownostr #alwayslearning
⚡️Bitcoinia (Bitcoin Art)
npub1s4…y404a
2024-06-10 03:08:04
Author Public Key
npub1s4k3p8sns3m0sya72kz2mlzdjusl4gcpu4zyvg6hcxr9rcnyev9qxy404aPublished at
2024-06-10 03:08:04Event JSON
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"content": "Continuing on my education in cryptography and Bitcoin I'm learning today that while Elliptical Curve Cryptography (aka Elliptic Curve Digital Signature Algorithm or ECDSA) using a specific curve being 'secp256k1'.\n\nIn a coding script like Python or whatever you're into you could use libraries and functions to create a set of keys, use them to verify a string or in BTC a transaction.\n\nIn our coding script we could then verify that our message or transaction was created using using a private key associated with the public key. If the mathematics being carried out in these functions and libraries checks out then we can say our message or transaction has been signed by a (secret) private key mathematically proven to belong to an associated public key - publicly available to an end user.\n\nIn this way the maths and code behind a BTC transaction allows us to sign a transaction without revealing out secret key (which gives us ownership over it) while allowing the person we are sending BTC (value) to can see that it was indeed the key associated with that private key which signed the transaction and hence gives the user assurance that the transaction was legitimate. \n\nAt least this is my understanding so far... #studyBitcoin and the journey continues. makes me wonder is this what Nodes are actually checking when they run consensus rules against blocks mined by miners to be added to the time chain? Guess Ill find out soon enough. \n\n#plebchain #coffeechain #bitcoin #nostr #grownostr #alwayslearning",
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