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Public-Key Cryptography
Cryptography is useful for safeguarding blockchain wallets.
Wallets are used to store digital assets, including cryptocurrencies, non-fungible tokens (NFTs), or any other items created and transferred on the blockchain.
When users create a wallet, they get a public key and a private key. The private key is to your wallet what a password is to your bank account. Every transaction must be signed with a private key to prove ownership of the assets.
The existence of a private key means that no one can gain access to your wallet and move funds and other assets without your approval.
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Cryptographic Hashing
Hashing involves an algorithm (a “hash function”) generating a fixed output (hash) from a data input of any size. In most blockchains, the hash is an alphanumeric string of fixed length.
Because a hash is dependent on block data, hashes serve as unique identifiers for blocks on the chain. R...
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Consensus Algorithms
Consensus algorithms allow participants on the blockchain to agree on the validity of transactions and the true state of the blockchain. In other words, a consensus is what makes the blockchain ledger a reliable and secure record of information.
In a blockchain network, every node must conf...
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How Do Blockchains Work?
The blockchain is a distributed ledger technology that records all transactions conducted by participants in the network.
Networks are sustained by a group of computers (called nodes) distributed across the world. Each node can initiate transactions or validate new transactions, which is wh...
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Cryptoeconomics (Game Theory)
Cryptoeconomics is based on game theory, a field of study that attempts to predict the interactions between different participants in a situation with defined rules and outcomes. When applied to blockchain networks, game theory can be used to encourage honest activity by providing adequate incent...
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How is Blockchain Security Achieved?
Blockchains are extremely secure, making them ideal for transactions requiring high levels of data integrity and safety. For example, blockchains can be used to securely transfer money, track charity donations, safeguard records, and conduct voting.
Blockchain security is achieved through a...
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