What is blockchain encryption?
Blockchain technology does not rely on encryption in the traditional sense; Rather, it uses encryption techniques to secure data and transactions. Below are some of the main cryptographic elements typically used in blockchain
1:Hash functions: Hash functions are mathematical algorithms that take an input (or “message”) and return a fixed-sized byte string. These hashes are unique to their input and are used to verify the integrity of the data. In blockchain, each block contains a hash of the previous block, creating a chain of blocks, hence the name blockchain
. 2. Public/Private Key Encryption: Public/private key pairs are used for secure digital signatures and identity verification. Each user in a blockchain network has a pair of keys: a public key that is shared with others and a private key that is kept secret. Transactions are signed using the sender's private key and are verified by others using the sender's public key.
3. Digital Signatures: Digital signatures are created using a combination of a message and a private key. It ensures that the message originates from the owner of the private key and that the message has not been tampered with during transmission.
