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Web3 Fundamentals and NEAR

Public / Private Keys & Signing

Public / Private Keys & Signing

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Public and private keys come from the Public-key cryptography system which is based on the idea “every public key matches to only one private key”. Public and private keys used to encrypt and decrypt data. Data can be encoded with the receiver's public key and then the receiver can only decode the data with the matching private key.

Public keys also known as “verify key” and private keys also known as “secret key” Public keys which can be known to others and private keys which can not be known by anyone except the owner

Using a private key, a digital signature can be created so that anyone with the corresponding public key can verify that the message was created by the owner of the private key and was not modified since.
Blockchain makes extensive use of public key cryptography. images

For further information: Public / Private Keys & Signing

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