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Mastering Blockchain - Fourth Edition

You're reading from Mastering Blockchain - Fourth Edition

Product type Book

Published in Mar 2023

Publisher Packt

ISBN-13 9781803241067

Pages 818 pages

Edition 4th Edition

Languages

Concepts

Author (1):

Imran Bashir

Table of Contents (24) Chapters

Preface

1. Blockchain 101

2. Decentralization

3. Symmetric Cryptography

4. Asymmetric Cryptography

5. Consensus Algorithms

6. Bitcoin Architecture

7. Bitcoin in Practice

8. Smart Contracts

9. Ethereum Architecture

10. Ethereum in Practice

11. Tools, Languages, and Frameworks for Ethereum Developers

12. Web3 Development Using Ethereum

13. The Merge and Beyond

14. Hyperledger

15. Tokenization

16. Enterprise Blockchain

17. Scalability

18. Blockchain Privacy

19. Blockchain Security

20. Decentralized Identity

21. Decentralized Finance

22. Blockchain Applications and What’s Next

23. Index

Cryptographic keys

On the Bitcoin network, possession of Bitcoins and the transfer of value via transactions are reliant upon private keys, public keys, and addresses. Elliptic Curve Cryptography (ECC) is used to generate public and private key pairs in the Bitcoin network. We have already covered these concepts in Chapter 4, Public Key Cryptography, and here we will see how private and public keys are used in the Bitcoin network.

Private keys in Bitcoin

Private keys are required to be kept safe and normally reside only on the owner's side. Private keys are used to digitally sign the transactions, proving ownership of the bitcoins.

Private keys are fundamentally 256-bit numbers randomly chosen in the range specified by the SECP256K1 ECDSA curve recommendation. Any randomly chosen 256-bit number from 0x1 to 0xFFFF FFFF FFFF FFFF FFFF FFFF FFFF FFFE BAAE DCE6 AF48 A03B BFD2 5E8C D036 4140 is a valid private key.

Private keys are usually encoded using Wallet Import Format (WIF) in...

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Authors (1)

Imran Bashir

Imran Bashir has an M.Sc. in Information Security from Royal Holloway, University of London, and has a background in software development, solution architecture, infrastructure management, and IT service management. He is also a member of the Institute of Electrical and Electronics Engineers (IEEE) and the British Computer Society (BCS). Imran has extensive experience in both the public and financial sectors, having worked on large-scale IT projects in the public sector before moving to the financial services industry. Since then, he has worked in various technical roles for different financial companies in Europe's financial capital, London.

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