Ethereum: Why can’t we switch private and public keys? Guide to the Cryptocurrency wallet
As a cryptocurrency fan, he is probably aware of the importance of private and public keys in providing digital tools. But have you wondered why you couldn’t easily switch or share these keys? In this article, we are immersed in the complexity of the Ethereum key management system and discover what makes it unique.
What are private and public keys?
In the cryptocurrency world, private keys are used to sign the blockchain transactions, while public keys are used as titles to receive coins. Think of them as a digital wallet: Private keys are sensitive information that liberates your funds, while public keys are public identification numbers that allow others to send coins.
Why can’t private and public keys be easily switched?
Private and public keys cannot easily switch or share the reason for being built. So it is:
- Entropy
: A combination of unique information for private keys, including the recipient’s address, transaction ID, and more. Entropy, the randomness of these values, makes the same private key virtually impossible.
- HASH Function : Public keys are split using a cryptographic hash function (such as sha-256). This process converts the private key into a unique digital fingerprint, making it difficult to reverse the Engineer, or share the private key without the right public key.
- Key Routes : To derive the existing new private key, you need to follow the specific key role (KDP), which are complex mathematical processes containing multiple hash and encryption circles. These KDPs ensure that even if you share the private key, others cannot easily reverse it.
- Single pillows : Some cryptocurrencies use single pillows (OTP) to provide transactions. In these cases, the recipient’s public key is used as a one -time password (OTP) to authenticate their identity and to create a unique transaction ID. The private key is then used to sign the transaction on the blockchain.
Can I make a paper wallet and share private keys?
While it seems to create a paper wallet for the basics of Ethereum and share private keys with others, there are many reasons why this is not possible:
- Entropy : As mentioned earlier, entropy makes the same private key from the paper wallet.
- HASH function : Sharing a public key without the proper private key would result in the sender trying to drain their own private key using an invalid KDP or OTP process.
- Key Routes : Even if you share the private key, others can continue to use it to create a new private key by following the same KDPs used when created.
Conclusion
Private and public keys are designed to be safe and separate entities within the Ethereum ecosystem. Although it is technically possible to share public keys with others, this would lead to catastrophic security risks. To protect digital devices, make sure you keep your private key safe and only share your public address with trusted persons.
Best exercises for secure practices in Cryptocurrency Management
- Use a paper wallet to safely store private keys.
- Never share the private key or public address without the appropriate private key.
- Keep up -to -date with Ethereum software and wallet updates.
- Use secure passwords and authentication methods.
- Be careful if you require third party services or replacements as they do not comply with the best exercises.
By following these guidelines and understanding the complexity of the Ethereum key management system, you can enjoy a safer and safer experience with digital devices.