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1. Public key cryptography history.
It was invented in the late 1970s. Before, all users needed to know the same password to encrypt and decrypt information and that was very insecure and cumbersome to use in a network like the internet.
With public key cryptography, each user has his/her public and private key, so information is encrypted using the public key of the receiver and the receiver can decrypt it with his/her private key. This revolutionized cryptology and the internet.
The public key is very easy to create, but from the public key to guess the private key is very difficult to break. This is another critical security point in private and public key technology.
2. Public and private key on a blockchain.
The private key is like a password to control your address on the blockchain. This is why it is so important to keep it safe and secret.
The public key is your address or account on the blockchain.
3. Your address and your assets.
Your address on the blockchain is like your account where all your crypto assets are held. You control your address with the private key.
4. Addresses or accounts on blockchains may have different formats.
For example on Ethereum and Ethereum Classic they add a "0x" in front and use the raw address. In Bitcoin they transform the same raw address to a special format that looks different.
5. Thank you for following this class!
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