Cryptography

Cryptography is the branch of mathematics that lets us create mathematical proofs that provide high levels of security. Online commerce and banking already uses cryptography. In the case of Bitcoin, cryptography is used to make it impossible for anybody to spend funds from another user's wallet or to corrupt the block chain. It can also be used to encrypt a wallet, so that it cannot be used without a password.

Reference:

https://bitcoin.org/en/vocabulary

Cryptography is used in multiple places to provide security for the Bitcoin network. Cryptography, which is essentially mathematical and computer science algorithms used to encrypt and decrypt information, is used in bitcoin addresses, hash functions, and the block chain.

Reference:

https://support.blockchain.com/hc/en-us/articles/213276463-Bitcoin-terms-glossary

The process of coding written messages with the use of mathematics to create codes and ciphers that can conceal information. Used to create mathematical proofs that provide high levels of security. The basis for the mathematical problems used to verify and secure Bitcoin transactions. Online commerce and banking also use cryptography. In the case of Bitcoin, cryptography is used, for example, to make it impossible for someone to spend funds in another’s wallet or to corrupt the blockchain. It is also used to encrypt a wallet so that it cannot be breached without a password.

Reference:

Malone, J.A (2015). Glossary of Bitcoin Terms and Definitions. United States: Lulu Press, Inc

 

 

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