PDF Publication Title:
Text from PDF Page: 010
1.2.1 Validating Transactions Public-key cryptography11 is a great tool to deal with one of the problems: validating transactions. Public-key cryptography relies on the asymmetrical mathematical complexity of a very specific set of problems. The asymmetry in public-key cryptography is embodied in the existence of two keys: a public and a private key. These keys are used in tandem for specific purposes. In particular: • Data encrypted with the public-key can only be decrypted by using the private-key. • Data signed with the private-key can be verified using the public-key. The private-key cannot be derived from the public-key, but the public-key can be derived from the private-key. The public-key is meant to be safely shared and can usually be freely exposed to anyone. Of interest for creating a verifiable set of transactions is the operation of signing data. Let’s see how a very simple transaction can be verified through the use of public-key cryptography. Let’s say there is an account holder A who owns 50 coins. These coins were sent to him as part of a previous transaction. Account holder A now wants to send these coins to account holder B. B, and anybody else who wants to scrutinize this transaction, must be able to verify that it was actually A who sent the coins to B. Furthermore, they must be able to see B redeemed them, and no one else. Obviously, they should also be able to find the exact point in time, relative to other transactions, in which this transaction took place. However, at this point we cannot do this. We can, fortunately, do everything else. For our simple example, let’s say the data in the transaction is just an identifier for the previous transaction (the one that gave A 50 coins in first place), the public-key of the current owner and the signature from the previous owner (confirming he or she sent those coins to A in first place): { "previous-transaction-id": "FEDCBA987654321...", "owner-pubkey": "123456789ABCDEF...", "prev-owner-signature": "AABBCCDDEEFF112233..." } The number of coins of the current transaction is superfluous: it is simply the same amount as the previous transaction linked in it. Proof that A is the owner of these coins is already there: his or her public-key is embedded in the transaction. Now whatever action is taken by A must be verified in some way. One way to do this would be to add information to the transaction and then produce a new signature. Since A wants to send money to B, the added information could simply be B’s public-key. After creating this new transaction it could be signed using A’s private-key. This proves A, and only A, was involved in the creating of this transaction. In other words, in JavaScript based pseudo-code: function aToB(privateKeyA, previousTransaction, publicKeyB) { const transaction = { "previous-transaction-id": hash(previousTransaction), "owner-pubkey": publicKeyB 11 https://en.wikipedia.org/wiki/Public- key_cryptography 8PDF Image | Intro to Ethereum and Smart Contracts
PDF Search Title:
Intro to Ethereum and Smart ContractsOriginal File Name Searched:
intro-to-ethereum.pdfDIY PDF Search: Google It | Yahoo | Bing
NFT (Non Fungible Token): Buy our tech, design, development or system NFT and become part of our tech NFT network... More Info
IT XR Project Redstone NFT Available for Sale: NFT for high tech turbine design with one part 3D printed counter-rotating energy turbine. Be part of the future with this NFT. Can be bought and sold but only one design NFT exists. Royalties go to the developer (Infinity) to keep enhancing design and applications... More Info
Infinity Turbine IT XR Project Redstone Design: NFT for sale... NFT for high tech turbine design with one part 3D printed counter-rotating energy turbine. Includes all rights to this turbine design, including license for Fluid Handling Block I and II for the turbine assembly and housing. The NFT includes the blueprints (cad/cam), revenue streams, and all future development of the IT XR Project Redstone... More Info
Infinity Turbine ROT Radial Outflow Turbine 24 Design and Worldwide Rights: NFT for sale... NFT for the ROT 24 energy turbine. Be part of the future with this NFT. This design can be bought and sold but only one design NFT exists. You may manufacture the unit, or get the revenues from its sale from Infinity Turbine. Royalties go to the developer (Infinity) to keep enhancing design and applications... More Info
Infinity Supercritical CO2 10 Liter Extractor Design and Worldwide Rights: The Infinity Supercritical 10L CO2 extractor is for botanical oil extraction, which is rich in terpenes and can produce shelf ready full spectrum oil. With over 5 years of development, this industry leader mature extractor machine has been sold since 2015 and is part of many profitable businesses. The process can also be used for electrowinning, e-waste recycling, and lithium battery recycling, gold mining electronic wastes, precious metals. CO2 can also be used in a reverse fuel cell with nafion to make a gas-to-liquids fuel, such as methanol, ethanol and butanol or ethylene. Supercritical CO2 has also been used for treating nafion to make it more effective catalyst. This NFT is for the purchase of worldwide rights which includes the design. More Info
NFT (Non Fungible Token): Buy our tech, design, development or system NFT and become part of our tech NFT network... More Info
Infinity Turbine Products: Special for this month, any plans are $10,000 for complete Cad/Cam blueprints. License is for one build. Try before you buy a production license. May pay by Bitcoin or other Crypto. Products Page... More Info
CONTACT TEL: 608-238-6001 Email: greg@infinityturbine.com (Standard Web Page)