Blockchain & Cryptocurrency Glossary

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Public Key Cryptography

1 min read
Pronunciation
[puhb-lik kee krip-tog-ruh-fee]
Analogy
Like a public P.O. box address anyone can use to send letters, and a private key that only you have to open them.
Definition
Cryptographic systems using asymmetric key pairs (public/private) for secure communication, signing, and encryption.
Key Points Intro
Public key cryptography supports wallet security by:
Key Points

Asymmetric keys: Separate signing and verification keys.

Digital signatures: Authenticate transactions.

Encryption: Secure messaging between parties.

Key exchange: Derive shared secrets (ECDH).

Example
Wallets use ECDSA on secp256k1 for signing Bitcoin transactions and ECDH for secure channel setup in some protocols.
Technical Deep Dive
Algorithms: RSA, ECDSA, EdDSA. Wallets predominantly use ECDSA: signature (r,s) over secp256k1. Public keys compressed to 33 bytes. Verification: check r,s in range and curve equation.
Security Warning
Quantum computers threaten ECDSA/RSA; research into post-quantum schemes ongoing.
Caveat
Asymmetric operations cost more compute than symmetric; wallets optimize for signing only.
Related Terms
Key Pair
Digital Signature

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