Encryption plays a crucial role behind any digital currency, including bitcoin. By encrypting Bitcoin users can prove that they own some bitcoin and want to transfer it to someone else. For example, if Ali wants to send 5 bitcoins to Mohammad, he proves that he owns 5 bitcoins, without having to give his private key to anyone, by digitally signing the encryption keys (public key and private key). Put.
Also read: How does Bitcoin work and how are its transactions done?
In this infographic, you will get acquainted with the basic concepts of cryptography in simple language, especially in digital currencies and blockchain: