Read up on public-key cryptography.
okay, thanks.
Topic: deeper inquiry about the transaction process. (Read 604 times)
http://en.wikipedia.org/wiki/Public-key_cryptography
There is a mathematical relationship between the private key and the bitcoin address.
This mathematical relationship allows the transaction creator to use the private key to calcualte a digital signature. This digital signature is provided with the transaction. Because of the mathematical relationship, the solo-miners (or mining pool operators) and all full nodes can use the public key to verify that the digital signature is valid without ever knowing what the private key was.
There is a mathematical relationship between the private key and the bitcoin address.
This mathematical relationship allows the transaction creator to use the private key to calcualte a digital signature. This digital signature is provided with the transaction. Because of the mathematical relationship, the solo-miners (or mining pool operators) and all full nodes can use the public key to verify that the digital signature is valid without ever knowing what the private key was.
Read up on public-key cryptography.
How do the miners know that a private key is the correct one while not knowing what it is?
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