Community post
Girlfriends and How Cryptocurrency Wallets Work (Animated)
Hey!
In the latest video on Whiteboard Crypto, we explain how asymmetric encryption works using a risque example.
Essentially, cryptocurrency wallets have 2 keys.
One is public, one is private.
The public key is like a paypal address, and the private key is like the password.
Anyone with your public key can send you money and also check all of your transaction to make sure they are valid. Whoever has the private key can create transactions and verify that they want to send them by "stamping" them.
Also, your private key can regenerate your public key if you ever forget it, but it is infeasible for someone to stamp any transactions for you without having the private key.
Asymmetric encryption is a complicated topic and most people explain it with math and code, but there is a large group of people who don't even understand how or why it works on a basic level.
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Replies (8)
Very good video. It would have been very helpful when I was confused about all the keys we get on the hive blockchain. In fact, I'm not sure fully understand them now lol. I just use them. Well done!
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Nice video and welcome to Leo!
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I still have learning to do myself, I think the most difficult part is how hard it is to learn something by googling - almost need a dedicated website just about the hive blockchain
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Welcome aboard, dude 🥳
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Hey mate, welcome to Hive and LeoFinance.
I love the style of your videos, explaining complex topics in a digestible format.
Just a few questions if you've got a sec.
What are your plans for this LeoFinance blog?
How are you going to integrate using it into your content creation?
I'm interested in hearing whether your strategy will be just to send traffic from here to YouTube, or if you have a plan to also send traffic the other way.
Obviously we have a vested interest in getting more eyeballs on the leofinance.io domain and would love to hear the thoughts of how that could be achieved through influencer marketing.
See you around :)
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2 days ago I had no idea what leofinance was or the Hive blockchain, and I still can't figure out how to buy Leo or how the Hive network works. I plan to create a few videos that I could show to myself 2 days ago and understand it a lot better. Some people don't even know the Hive, BSC, and ETH are different networks, My videos will be for people like them :)
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Sounds good mate, I'm excited to see what you come up with.
I also see that you're getting plenty of help in the LeoFinance Discord, so all good :)
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