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The Cryptonomics™ > Bitcoin > The place are the seeds on the blockchain saved?
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The place are the seeds on the blockchain saved?

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Last updated: September 15, 2024 11:44 pm
admin Published September 15, 2024
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The place are the seeds on the blockchain saved?


Seeds are usually not saved on the blockchain. Quite seeds are used to generate personal keys, that are then used to create digital signatures, which function proof that the proprietor of it agrees to the transaction.

Bitcoin transactions create transaction outputs that comprise the worth in Bitcoin assigned to them, in addition to the circumstances required to spend that output as an enter to a different transaction. The proprietor of that output, and subsequently the Bitcoin worth related to it, is the individuals who can fulfill the circumstances specified within the output. The commonest situation is that of a digital signature – the output specifies a public key (or its hash) and so the situation is that the spending enter should comprise a digital signature created by the personal key equivalent to the required public key.

As their title suggests, public keys are supposed to be public and may be shared publicly with out publicity of the personal key. The personal key, because the title suggests, should be stored personal. It’s then used to generate the signature. The mathematics works out such that it’s not doable to compute the personal key for a public key, neither is it doable to create a signature for that public key with out additionally having the personal key.

A seed is just one other personal key, as it’s used to generate different personal keys. Though seeds are usually not usually used straight as personal keys for producing signatures.

Lastly, Bitcoin doesn’t require any type of registration of public keys when their personal keys are generated. The house of doable personal keys is so giant that it’s principally not possible for 2 folks to generate the identical personal key if they’re producing their keys appropriately. Nonetheless, provided that possession is principally outlined as the flexibility to spend an output, if personal keys are improperly generated, or an output has insecure spending circumstances, a number of folks could “personal” the output and have the ability to spend it independently of one another.

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