Ethereum: How are transactions verified with only the Bitcoin address, not the public key?

How Ethereum checks transactions only with bitcoin address

Asymmetric cryptosystems, such as Bitcoin, are expected to monitor transactions and secure secure online transactions. One of the main features that distinguishes asymmetric systems from others is the use of a public key to sign messages instead of a private key.

In this article, we examine that Ethereum is using a combination of transactions to control transactions without relying on the public key. Specifically, we examine the role of bitcoin titles in checking Ethereum transactions.

asymmetric cryptosystems 101

If you generate an asymmetric pair that consists of a private key and a suitable public key, the two user keeps the two secret. The private key is used to sign digital signatures, while the public key serves as a “digital imprint” or as a unique identifier for this private key.

The security benefits of this approach are as follows:

• Protection of private keys : Private keys cannot be publicly shared, which helps prevent unauthorized access to sensitive financial information.

• Digital signature check : The public key can be used to verify the authenticity and integrity of digital signatures, ensuring that they are generated by the planned owner.

Ethereum Intelligent Contract Platform

When creating smart contracts, developers rely on a complex system on Ethereum that affects several cryptographic techniques. However, on the basis, Ethereum uses bitcoin addresses to verify transactions as an alternative to private keys.

Here are some key points on how Ethereum checks transactions only with the Bitcoin title:

• Bitcoin Title : The Ethereum user generates a unique bitcoin address that is used as a “signature” for their transactions.

• HASH Transaction : If a transaction is distributed on the network, its antecedents will be stored in the Blockchain database. The hash transaction is calculated and this value serves as a single identifier for a given transaction.

• Verification of the signature : Each Bitcoin address has an appropriate public key. In Ethereum, the transaction sender uses the private key (secret) to create a digital signature that uses Bitcoin as a “digital imprint”. This process is called “signature verification”.

4.

* The blockchain database stores the abdomen of the transaction.

* Each participating section (such as minors, validators and users) calculates its signature using a public key associated with Bitcoin.

* The signatures obtained are compared to the expected signatures generated by all nodes of the network. If the signatures meet, the transaction is considered to be a check.

The most important benefits

The use of Bitcoin titles to verify transactions offers many benefits:

1.

• Increased Safety : The use of public keys and digital signatures prevents unauthorized access to financial transactions.

• Development of transparency

  

  : Blockchain databases store all transaction history for each bitcoin addresses, which ensures clear recording of all activities.

In summary, Ethereum Intelligent Contarting Platform is based on bitcoin titles as an alternative to private keys to check transactions. By taking advantage of this approach, developers can create secure and decentralized systems that protect user data and guarantee transactions without relying on traditional asymmetric cryptographic methods without confidence.

MIXERS LEGAL AREA CRYPTO

بامیلو

همه پست های نویسنده