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What is the purpose of a private key in Bitcoin blockchain technology?
What is the purpose of a private key in Bitcoin blockchain technology?
- To encrypt messages sent over the network
- To verify the identity of the sender in a transaction
- To decrypt messages received from the network
- To generate a digital signature for transactions (correct)
In the context of Bitcoin, what is the function of a public key?
In the context of Bitcoin, what is the function of a public key?
- To encrypt sensitive information before sharing it
- To create a secure connection between users
- To secure the Bitcoin network against hacking attempts
- To broadcast to the network for receiving funds (correct)
Why are public and private keys crucial components of Bitcoin transactions?
Why are public and private keys crucial components of Bitcoin transactions?
- To ensure anonymity for all users on the blockchain
- To increase the speed of mining new Bitcoins
- To regulate the total supply of Bitcoins in circulation
- To prevent any party from altering transaction details (correct)
What is the main purpose of using public and private keys in Bitcoin transactions?
What is the main purpose of using public and private keys in Bitcoin transactions?
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Which key is kept private by the user to ensure the security of their Bitcoin transactions?
Which key is kept private by the user to ensure the security of their Bitcoin transactions?
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In Bitcoin blockchain technology, what role does a public key play?
In Bitcoin blockchain technology, what role does a public key play?
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