Brendan Lee, CoinGeek Backstage, Bitcoin Address

Brendan Lee: How to Verify Ownership of a Bitcoin Address

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Do you know how public and private keys are generated? Will you be able to verify the digital signature? If your answer to either of these questions is no, then there is no need to be embarrassed that you are not alone! For all the articles and opinion pieces online about Bitcoin, there is still a clear lack of understanding of how this technology actually works.

In fact, YouGov exploratory study From 2021 it was found that 98% of respondents did not understand basic coding concepts.

In this week’s CoinGeek Talks, Charles Miller Recruited Help Brendan LeeDirector of Training and Development at BSV Blockchain AssociationTo help him get to the core of some basic concepts.

When the two last spoke in February 2021, Brendan covered what actually happens when you make a transaction on the bitcoin network and exactly how the coins move from one wallet to another. This time Charles wants to know what a digital signature is and how it can be used to verify ownership of a Bitcoin address.

First, they discuss public and private keys, with Brendan explaining that the two keys exist as a pair, with the private key generated first and the public key produced cryptographically from the private key.

The conversation then moves to Bitcoin wallets, where the individual’s private keys are stored. Brendan says so electrumWallet software with some additional features is a good way to allow users to prove ownership of the keys by using these keys to sign messages and create digital signatures.

Brendan explains that the user first needs to choose a title and write a custom message to create a signature. Once this signature is created, any other user can decrypt and verify the signed message provided they have the custom message, signature, and public key.

Electrum, check the message

While the technology may seem complex, Brendan says the math used to create signatures and verify keys was nothing new when Satoshi used it in his Bitcoin software.

“He wasn’t doing anything remarkably new; he was taking something that was already there, well tested, well proven, very reliable as a method, and then implementing it as a digital cash system,” he says.

Charles and Brendan are also doing a hands-on demo on Electrum, showing how it can be used to demonstrate control of a specific set of private keys. This is particularly interesting given the fact that this is how Dr. Craig Wright demonstrated his control of Gavin Andresen’s Satoshi Keys in 2016.

For more information on Bitcoin technology, see our previous CoinGeek chat: Brendan Lee: What Really Happens When You Make a Bitcoin Payment

Hear Brendan Lee’s entire interview on this week’s CoinGeek Conversations podcast or catch up on other recent episodes:

You can also watch the podcast video at Youtube.

Please subscribe to CoinGeek Conversations – this is part of the ninth season of the podcast. If you’re new to it, there are plenty of previous episodes to keep up with.

Here’s how to find it:

– Find ‘CoinGeek Talks’ wherever you get your podcasts

– Subscribe to Itunes

– Listen spotify

– visit CoinGeek Chatting Site

– Watch on CoinGeek YouTube Chat Playlist

New to Bitcoin? Check out CoinGeek’s Bitcoin for beginners the ultimate resource guide to learn more about Bitcoin – as originally envisioned by Satoshi Nakamoto – and the blockchain.

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