CRYPTOCURRENCY
Ethereum: Every bitcoin wallet user has one Private Key or every address has one private key?
Understanding private keys Ethereum: is each user or address unique?
Regarding cryptocurrencies like Bitcoin, Ethereum and others, the concept of “private keys” could be confused because of its similarity with traditional computer security practices. In this article, we decompose the functioning of the private keys of Ethereum, ensuring that you understand if each user has a private key or each address is awarded a unique private key.
What are the private keys Ethereum?
Ethereum private keys, also known as portfolios, serve two main objectives: storage and management of cryptocurrency transactions. Each Ethereum portfolio contains a set of private keys, which are used to access the blockchain network. These private keys are designed to be extremely secure and private, ensuring that only authorized persons can see or manipulate their funds.
How do Ethereum private keys work?
Here is a simplified explanation:
- Derivation : When you create an Ethereum portfolio, it generates a set of private keys using a process called bypass. This implies the cartography of the address to its corresponding private key.
- Address derivation : Each Ethereum address is awarded a unique private key through the derivation process. Think about it as an individual correspondence between addresses and private keys.
- Blockchain storage
: The portfolio stores both the public address (used for transactions) and the corresponding private key.
Is each user or address unique?
Although it may seem intuitive to assume that each Ethereum user has his own unique private key, this is not entirely exact. There are several reasons for which:
* Network Ethereum : The Ethereum network consists of several nodes (computers) which execute the Ethereum protocol. Each node can generate a separate set of private keys for different addresses.
* Derivation chain : The derivation process creates a chain of private keys, each derived from the previous one. This chain is unique at each address and represents how the funds are allocated to several portfolios.
* Several portfolios by address : In Ethereum, users can have several wallets on their addresses (called “separated”). Each portfolio would have its own set of private keys.
In conclusion
Although each user does not necessarily have a unique private key for each address, the blockchain network itself is divided into a chain of unique diversion paths. The process guarantees that the funds are allocated to different wallets via several addresses. This complex structure underpins the functioning of the private keys of Ethereum, offering a secure and decentralized means of managing cryptocurrency transactions.
This article provides a complete understanding of Ethereum private keys and their role in securing the blockchain network.
