When understanding the basic noun concept of blockchain, it is mentioned that the address consists of characters and numbers, but it does not explain how it came into being. The bank card number is generated by the core system of the bank, so what is the bitcoin address generated by? Look at the picture below:

For Xiaobai, who has just come into contact with Bitcoin, it is very confusing to see this picture. What are private keys and public keys? Why is it so troublesome to generate an address?

Now please remember this sentence: the private key is generated by elliptic curve multiplication, and the private key cannot be derived from the public key; The public key generates a bitcoin address through a hash function, which cannot be derived from the public key.

Only through such a complicated algorithm can the address be calculated. Are the private key and public key just for generating addresses? No, they have other uses. Let's learn about the private key and the public key first.

Now I have explained the concepts of address, mining, workload proof, computing power, block, blockchain and so on. Do you remember? If you forget, please review these concepts because they will be used in many places in the future. What are the characteristics of tomorrow's blockchain?

Reference Book: Mastering Bitcoin

Blockchain knowledge topic:

Bitcoin bookkeeping method (blockchain knowledge 2)

Understand the basic concept of blockchain (blockchain knowledge 1)