Book Image

Mastering Blockchain

Book Image

Mastering Blockchain

Overview of this book

Blockchain is a distributed database that enables permanent, transparent, and secure storage of data. The blockchain technology is the backbone of cryptocurrency – in fact, it’s the shared public ledger upon which the entire Bitcoin network relies – and it’s gaining popularity with people who work in finance, government, and the arts. Blockhchain technology uses cryptography to keep data secure. This book gives a detailed description of this leading technology and its implementation in the real world. This book begins with the technical foundations of blockchain, teaching you the fundamentals of cryptography and how it keeps data secure. You will learn about the mechanisms behind cryptocurrencies and how to develop applications using Ethereum, a decentralized virtual machine. You will explore different blockchain solutions and get an exclusive preview into Hyperledger, an upcoming blockchain solution from IBM and the Linux Foundation. You will also be shown how to implement blockchain beyond currencies, scability with blockchain, and the future scope of this fascinating and powerful technology.
Table of Contents (20 chapters)
Mastering Blockchain
Credits
About the Author
About the Reviewer
www.PacktPub.com
Customer Feedback
Preface

Public and private keys


In order to understand public key cryptography, the first concept that needs to be looked at is the idea of public and private keys.

A private key, as the names suggests, is basically a randomly generated number that is kept secret and held privately by the users. Private key needs to be protected and no unauthorized access should be granted to that key; otherwise, the whole scheme of public key cryptography will be jeopardized as this is the key that is used to decrypt messages. Private keys can be of various lengths depending upon the type and class of algorithms used. For example, in RSA, typically, a key of 1024-bit or 2048-bits is used. 1024-bit key size is no longer considered secure and at least 2048 bit is recommended to be used in practice.

A public key is the public part of the private-public key pair. A public key is available publicly and published by the private key owner. Anyone who would then like to send the publisher of the public key an encrypted message...