Cryptocurrency Q&A
How to verify a crypto transaction with a public key?
How to verify a crypto transaction with a public key?
Lorenzo
Thu Jul 11 2024
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5 answers
969
Could you elaborate on the process of verifying a cryptocurrency transaction using a public key? I'm particularly interested in understanding the key steps involved in this verification process. Does it involve decrypting the transaction data using the public key? Or does it involve some other cryptographic techniques? Additionally, how do we ensure the authenticity of the public key used for verification? Is there a way to validate the public key's origin and authenticity before performing the verification? Clarifying these points would greatly enhance my understanding of the crypto transaction verification process.
5 answers
Martino
Sat Jul 13 2024
Prior to verification, we retrieve the necessary data from the JSON representation of a specific transaction. This JSON contains crucial details such as the transaction's contents, sender, and any associated signatures.
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ZenMindful
Sat Jul 13 2024
When dealing with cryptocurrency transactions, it is crucial to ensure their authenticity and integrity. To achieve this, we employ the createVerify function from the crypto package. This function serves as a gateway to validating hashes with corresponding public keys.
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BitcoinWarrior
Fri Jul 12 2024
Once the data is retrieved, we proceed to the verification process. Here, we provide the sender's public key, which is a unique identifier associated with the sender's account. This public key serves as the basis for authenticating the transaction's origin.
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NebulaChaser
Fri Jul 12 2024
Alongside the public key, we also supply the signature obtained from the transaction's JSON. The signature is a cryptographic representation of the transaction's data, signed by the sender's private key. It ensures that the transaction has not been tampered with since its creation.
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Bianca
Fri Jul 12 2024
The createVerify function takes these two inputs—the public key and the signature—and performs a cryptographic comparison. This comparison verifies whether the signature corresponds to the transaction data and the sender's public key. If the verification is successful, we can confirm the authenticity and integrity of the transaction.
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