Cryptocurrency Wallets - Public and Private Keys (Asymmetric Encryption Animated)

In this video, we explain how pubic and private keys work in cryptocurrency wallets. In short, these wallets use asymmetric encryption to allow users to stamp transactions with their private key. Other users can verify their transaction by using the sender's public key.
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[@llihwerd]

This channel should literally be required curriculum for high school students. Thank you for helping educate so many people about the Web 3.0 world

[@DreamingConcepts]

Don't think centralized governments nor centralized big corporations would allow schools to teach anything that would give power back to the people

[@Bmerdelyi]

I ❤ Whiteboard Crypto, however, there are some VERY serious errors in this video. A public key is used for encrypting messages and the corresponding private key is used for decrypting messages. This is very important and the reason you never share your private key. Signing is a separate function (and sometimes done with a separate key-pair). A private key is used for signing and a public key is used for verifying.

[@donovanjohnson6079]

Yeah I thought I was tripping at first. Definitely some errors in the example.

[@BronzeMonkeyGaming]

Great video. There is a problem with your example I like to point to. The problem you are trying to solve is actually a signing problem. As the name suggests, the public key is public. Everyone can reach it. So encrypting with your private key and sending the message only ensures that the message is from you ( just like bitcoin wallet and ... ). If you want to send a message that only your girlfriend can open, You must encrypt the message with her public key, then only she can open it using her private key. So there is two way to encrypt, with your private key - called signing the message ( ensures the message is from you ). Second with recipient public key ( ensures only the recipient can open the message ).

[@mbahmarijan789]

now I understand.

[@SYNTAX_ERA]

Now that makes more sense

[@clintonjackson261]

Please I need someone to help me trade or invest the forex or crypto market because I’m tired of trading in losses myself. I’ve blown my account twice and it’s frustrating…

[@musayakububello9604]

Most time having knowledge or insight about a particular activity can as well be a pleasing exercise.I can boldly say that forex and crypto trading is one of the profitable money exchange services that elevates investors and their financial status.

[@rivaldo562]

@Fatimah Pinkies As a biginner who don’t understand how Bitcoin trade really works and you really want to make profit from it. I will advise you to first start working with a professional broker

[@sharonquiros333]

@@rivaldo562 How much someone know a professional account manager that is trustworthy When legit once are hard to find this days

[@yusufabubakar08161]

@@sharonquiros333 I highly recommend Mrs Tracy Williams she is my current trader and her strategies are working

[@villasave3806]

@@yusufabubakar08161 Wow I’m just shock you mentioned and recommended Expert Mrs Tracy I thought I’m the only trading with her

[@adan5511]

I finally understand these 2 concepts. Thanks, awesome channel

[@LuciferHesperus]

"not your key not your crypto" best explanation ever

[@belloifedayo4812]

I love you guys. It helped a lot. I've literally binged watched 100s of cryptography and hash functions videos before happening on this.

[@pt8306]

"Imagine that you have a girlfriend" Ahh, I see you understand your target audience

[@JeradGraham]

The 2 minutes of content from ~5:40-7:40 is what people who don't know anything about blockchain need to see. That's the simplest answer to the question "why does it work?" The only thing missing is a statement about how this function should be a transparent piece of the software.

[@akashthomas3520]

thanks for creating this brother

[@nidhi4341]

This was really helpful. Good content in easy way. Thank you

[@PedroRodriguez-dl5yt]

You are a master, my dear friend.

[@michaellandinez7200]

Great video. Thanks

[@serveogu]

i love this channel so helpful

[@sarayushetty5678]

One thing I am not able to understand. If u are using the public key for reading messages, then people for whom it wasn't intended to read can read it as well right?? Then how will u prevent them from reading it??

[@aquafreshka9308]

I almost got all of it but I still got a question : What verify transaction ? and doesn't allow me to add some random transaction ? For exemple let say I am bob. Why I can add transaction like bill pay bob, John pay bob ans so on. I assume than only the one who pay can add transaction but how can we link the personne who pay the key that has been used to verify the transaction if it's meant to be anonymous ?

[@RehamTaay]

Hash functions are a beautiful invention

[@fradelinegarcia6422]

Hey guys thank you so much for making this content! Can you make a video on shilling? I don't know what it is or anything about it but it seems to be a buzz word at the moment. Thanks for ur efforts 😊

[@chrisspear1486]

Hey Fradeline! The term shilling is just slang for convincing people to buy something. It can be malicious or genuine depending on what you're shilling. If it's a great project, you'd be shilling it to people using all of the positive reasons you like it. If it's a scam, you'd still be talking about all the positives while withholding the negatives.

[@ausmate5235]

Great videos!

[@arnoldlenny5526]

If I understood everything correctly, then a private key can generate a lot of public addresses using an elliptic curve, let's say 10 pcs. Hence 2 questions: 1) If a hacker gets my private key, will he get access to all 10 addresses?? 2) In my electrum wallet, each address has its own private key. I don't understand how this correlates with the fact that one private generates a lot of addresses...

[@Magic77880]

Does public key never change?

[@raziasultana1966]

API Keys are different from Private/Public key. Can you please reply in detail.

[@mgtowstanleyzoltanov9808]

How to know if an exchange or site holds our private keys?

[@Gardor]

I get it.. but hoow?? I dont understand how you can verify the signature with the public key... How does that work.......

[@keerthi1070]

how do the other person know the public key to verify the stamp ?

[@howtoshadi]

I used to understand public and private keys until I watched this. Now I’m back to ignorance again… LOL

[@independent4456]

Thank you for your content,no i need to get info how to generate private key for each blockchain that i have my crypto tokens 😉

[@LuciferHesperus]

The public key is for receiving the message. The private key is for reading the message or signing a message to send.

[@SigmaLance3375]

"Imagine you had a girlfriend" 5 seconds in and you already lost me.

[@gjone1]

Still confusing (which part of the private formula is considered public?? the stamp - which appears uniquely independent to the transaction and unique number?? How can I read a public key and know that it comes from the correct private key/address/person?) Anyways, I'm still maddd appreciative for you guys cuz you are the best in explaining these concepts in laymen's terms 👍🏾😀

[@justinmoss1376]

It is a complicated subject but I will try to simplify it. When you want to connect with someone you generate your own public and private key. The private key is what is called a "Multiplicative Inverse" to the public key. Upon connection you swap public keys. You use the other persons public key to encrypt the message and it can only be decrypted by that persons private key. When they want to send a message back to you, they use your public key to encrypt and when you receive the message you use your private key to decrypt the message. Without the private key no on that is listening in to the messages or blockchain can make sense of the data. This video has public and private keys backwards.

[@dyslexic_daddy]

Imagine if you had a girlfriend... Way ahead of you buddy 😂😂

[@tadtab2]

Public is to write and private key is to read? I think you have it the other way?

[@Gardor]

no

[@uhhnobody]

crypto is awesome

[@ranti013]

Not quire the right example of Asymmetric encryption, not quite how the private and public key works.

[@justinmoss1376]

Yup, this video has it the other way around. You use public keys to encrypt, private keys to decrypt. Using a private key to encrypt allows anyone that has the public key to decrypt which defeats the whole purpose of asymmetrical encryption.

[@ranti013]

@@justinmoss1376 You don't really use asymmetrical encryption for the whole payload, you just use it for encrypting the Secret key to transfer to the other end. once both party gets the secret key, they use symmetric algorithms for the payload, if that makes sense.

[@user-db1qk5gf7z]

"imagine that you have a girlfriend" lmfao

[@TINTUHD]

so juicy lmaoo

[@somerandomguy000]

Imagine you have a girlfriend… And yeah, just imagine. no way you could get a real one

[@augustoparoli8055]

I bet only males are producing this content... amazing. Thanks for the crypto content but c'mon, guys. You can certainly correct that.

[@marcvanh]

Great video! Although I think you have private and public key switched…

[@keanuleachay8371]

Hahaha the analogy

[@danielbloom6545]

Please make a video about Hashgraph techonology

[@pdxhoops3112]

Who knew that whiteboard crypto dude was toxic lmao

[@keerthivasan7996]

Atlast i think you just misspelled public instead of priavte

[@PlaXer]

ILOVE THIS CHANNEL HLOY SHIT

[@kevikiru]

Your explanation on key function was wrong

[@Eldare]

You guys are so freaking awesome! Pls consider changing that childish animal thingy. I mean yeah it's super cute but it makes your channel look like it's not meant to be taken seriously :-/

[@user-jl6gz6ri8c]

Now I know why everyone is recommending you 👆👆 He's 💯 legit and reliable

[@freman75]

You talk way too fast, you should slow it down a notch when trying to explain new concepts to the public. Thanks!

[@trancesunrise3056]

The amount of hacker/scammers in this comment section is absurdly high.

[@keithnano6967]

bank account number & password, end ~

[@M_E_T_R_O__9]

why does this feel more about a cheating story than crypto? lol

[@jet-productions1892]

Lol,,,, sisies

[@ranielnascimentoferreira8808]

Good example, just don't do this in real life with any girl 😅😅

[@NSAwatchesME]

public private is such a stupid name that's why it's so confusing. should be called lock and unlock key . you give people the lock key but only you have the unlock key

[@gtidashcamsweden7388]

Very bad and confusing example. You make it way too complicated. I already know what asymmetric encryption is. I'm just trying to find a video to help my family understand. This video wont help them understand.

[@bigsteppa_shrey4384]

Confusing video

[@pussiestroker]

This is a very confusing explanation with your silly analogies.

[@sEYbaStIeNS]

Cheating 3.0

[@DWM864]

what the hell is this cheating example, the one who wronte this garbage should be fired

[@nishajakhar5867]

Really bad example. Unsubscribing

[@user-jl6gz6ri8c]

Now I know why everyone is recommending you 👆👆 He's 💯 legit and reliable

[@user-jl6gz6ri8c]

Now I know why everyone is recommending you 👆👆 He's 💯 legit and reliable