Cryptography refers to techniques that allow for an individual or network to transfer, alter and store electronic data in a secure and private way.
Cryptography is a type of digital security technology that is intended to protect the s’ data from being tampered with by bad actors, lost or corrupted. It entails using an algorithm that transforms data into a code. This is called encryption. Decryption is the process of decodifying the encrypted data. How this is implemented depends on the cryptographic algorithm used for the encryption process.
What Does Cryptography Mean in Blockchain ?
In e-wallets to syphon funds from the e-wallet holder.
Blockchain technology typically uses a cryptographic method known as consensus protocol.
Additionally, when transactions occur off the blockchain, such as where cryptocurrency is transferred to different wallets, and asymmetric cryptographic method is used. This is where a link between the public blockchain and the private domain are linked for a once-off transaction or verification of data. This is known as an asymmetric key pairing, as even though the public blockchain, the hashed code can only be decrypted by the private key, as per the hashed code’s programming.
