A private key refers to a number which is randomly picked. The ownership and control over the private key is the source of you as a user to have control over all funds that are related to your Heta address. The private key is used in creating signatures which are required to spend HetaCoin by providing ownership of funds that are used in a transaction. You must never share your private key. Therefore, it should always remain a secret at all times. Revealing it to a third party is like giving the control over your HetaCoin which re-secured by that private key. The private key has to be backed up and protected from accidental loss of any kind.
If you lose your private key, you can never recover it, and you will lose all the funds associated with it. Creating a Heta private key is very essential and picking a number between 1 and 2^256. This process can be done offline, and it does not require any connection with the Heta network or anyone else. To pick a number that no one else will ever pick the process needs to be random.
Public keys
This is a point on an elliptic curve which means that it is a set of x and y coordinates that satisfy the elliptic curve equation. In a more simple explanation, it is two numbers joined together. These numbers are created from the private key by using a calculation that can only go in one direction. This means that it is trivial to calculate a private key unless you have the private key, but you can never calculate a private key from the public key.
In order to generate a public key, you need to start with a private key which is randomly generated number k, then multiply it by a predetermined point which is on the curve known as the generator point G in order to produce another point somewhere else on the curve that is corresponding to public key K. This generator point is described as part of the secp256k1 standard. This is the same for all executions of secp256k1 as well as all keys which are derived from the same curve will use the same point G.
K = k * G
In this formula k is the private key, G is the generator point while K is the resulting public key which is a point on the curve. Because the generator point stays the same for all Heta users, a private key k will be multiplied with G which will always result in the same public key K. The relationship between K and k is always fixed, but you can calculate it only in one direction from k to K. that is the reason why Heta address can be shared with anyone without revealing the user’s private key.
A cryptographic refers to a one-way hash function that allocates data of arbitrary size on a fixed string of bits. The input of hash function is known as a pre-image, the message or just the input data. The output is known as the hash. The major category of hash function is the cryptographic hash functions which have specific characteristics that are important in securing the platforms. Heta addresses are identical identifiers that are derived from the public keys or contracts by using the Keccak-256 one-way hash function. We keep only the last 20 bytes which are the less significant bytes, and this is our Heta address.
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