Public Keys

Definition

Public Keys are a series of alphanumeric characters and symbols used to generate blockchain addresses and private keys. Blockchain addresses can be shared to receive cryptocurrencies, while private keys are used to spend the cryptocurrency associated with that address.

Each blockchain has its own unique format of public keys, which helps users distinguish between the keys of two blockchains.

Relation Between Public and Private Keys

Public Keys are unique identifiers that help users distinguish between different Blockchain Addresses. Each address has its own unique public key.

Blockchains generate public keys (which act as passwords) by processing their private keys via a hash function. Such a function deletes some original data so that no public key can be used to recover its private key.

Quantum Threat to Blockchains is via Public Keys

However, with quantum computing, private keys can be easily generated from their public keys. If that happens, any blockchain address can be easily drained using only its public key, which is already publicly available.

Example With Analogy

Imagine that you have a house, which has a specific location and a key that you can use to enter it. Blockchain Addresses are equivalent to a house; public keys are your address, which you can share with others, and private keys are the keys to your house.

Some Blockchains with Sample Addresses

For few addresses below, Hexadecimal means that public keys can only be created from alphabets ranging from a to f, and numbers ranging from 0 to 9. Hexadecimal is also called as Base 16 because it has 16 characters.

Similarly, Base 32, Base 64, etc use different numbers of letters, numbers and symbols as denoted by their suffix.

• Bitcoin
  • SegWit Address: bc1qar0srrr7xfkvy5l643lydnw9re59gtzzwf5mdq
  • Public Key: 03a34d6c7c9e2d45a2c4b1bfb8e1e5f2df47c1e01e3c0a17b5a1d8f86f2c4e0b9a
  • Public Key Format: 33 Bytes Compressed (BIP-39)
• Ethereum
  • Address: 0x742d35Cc6634C0532925a3b844Bc454e4438f44e
  • Public Key: 0x04bfcab0e0c8a1b4a9e7f4d9b8127e3d8ce79f6e76f7db1b62a7b2e36a1ce06b0a245b2f6f93e4ed0b8f70a65b13e0f0b55b2f606cdb9cb51d5d4b2a8f40e2e2d3
  • Public Key Format: 128 Character Hexadecimal
• Solana
  • Address: 4Nd1mYF6Z7K1Pw1wD5cWv5zxrP3KjV6oQeQ5cFhJd1d7
  • Public Key: 9xQeWvG816bUx9EPzKDyZLrLqC1L1eLwW4jU7v9z3g7S
  • Public Key Format: Base 58
• XRP
  • Address: rDsbeomae4FXwgQTJp9Rs64Qg9vDiTCdBv
  • Public Key: 03AB45E7B92A2F7C9D6E2F3C1B5D8E6A9C7D8B3E1A5C2D9F7A4B5C1E8F3A7B9D2F
  • Public Key Format: Hexadecimal
• SUI
  • Address: 0x5b3e7a9e8c3a11e4c6b42c9c6eaf9b07bfc24a6e2e34f02f3b7cb8fbc3c02a1f
  • Public Key: 0x7e1c3d8b42a67f3f91c9a4f2d8b9c5a3b2d4e7f8a9c6e5f1d2c8b4a7e3d9f6c4
  • Public Key Format: Hexadecimal 64 Bytes
• TON
  • Address: EQBzvHHzYd5uQWbDbSYspJjZ9f8d8r5m1BwcPhR4WjZC0Rct
  • Public Key: k+uLQy9D4LQv8k6byYd3Xn8M4iY7z1HqJb4zL0Y4oKk=
  • Public Key Format: Base 64
• Algorand
  • Address: J7OJ3KLD3MZ4V3E6C7X7TZCJJ4EYPWQ5PCXG4S2J6BOSVJKAK3F6CEXXXY
  • Public Key: V4QY5FZK7M3BOK6J5ZJ3A3K2YJZGXUGJYFJ4XABP7JBG4W37XK6PKUQJ7M
  • Public Key Format: Base 32

Frequently Asked Questions

Did Satoshi Nakamoto conceptualize Private and Public Keys?

No, Satoshi Nakamoto did not create private and public keys. The mathematics and logic behind that concept existed long before Bitcoin, tracing back their origin to the mid-80s when first digital currencies started appearing.