Bitcoin Q&A: What is a Private Key?

What is a private key? How are they generated and formatted? Are private keys transmitted when you make a transaction? What are the chances of collision? Will quantum computing making it easy to guess private keys? Does implementing quantum-proof algorithms require an overhaul of the code? Learn more from the following chapters of 'Mastering Bitcoin': github.com/bitcoinbook/bitcoinbook/blob/f8b883dcd4… github.com/bitcoinbook/bitcoinbook/blob/f8b883dcd4… Key to address code: github.com/bitcoinbook/bitcoinbook/blob/35f1c62f19… Chapters 0:00 How is the private key calculated using the elliptic curve mathematical computation? If transactions are public, why can't someone launch a brute-force attack and guess the private key, knowing the fact that we have quantum computers now? 5:15 Do all private keys start with the number 5? 5:52 How do you ensure the private key is transmitted securely and privately into the blockchain? 6:42 Please explain key collision. Also, please give an example of encryption collision. Is it possible to generate a private key that is already being used? 10:30 If transactions are public, why can't someone launch a brute-force attack and guess the private key, knowing the fact that we have quantum computers available now? 12:39 Quantum attacks on Bitcoin and how to protect against them. These questions are from the MOOC 9.3 and 9.4 sessions, as well as the (rescheduled) April Patreon Q&A session, which took place on March 2nd, March 9th, and May 5th 2018 respectively. Andreas is a teaching fellow with the University of Nicosia. The first course in their Master of Science in Digital Currency degree, DFIN-511: Introduction to Digital Currencies, is offered for free as an open enrollment MOOC course to anyone interested in learning about the fundamental principles. If you want early-access to talks and a chance to participate in the monthly live Q&As with Andreas, become a patron: www.patreon.com/aantonop RELATED: Bitcoin: Where the Laws of Mathematics Prevail -    • Bitcoin: Where the Laws of Mathematic...   Advanced Bitcoin Scripting Part 1: Transactions & Multisig -    • Advanced Bitcoin Scripting -- Part 1:...   Advanced Bitcoin Scripting Part 2: SegWit, Consensus, and Trustware -    • Advanced Bitcoin Scripting -- Part 2:...   Cryptographic primitives -    • Bitcoin Q&A: Cryptographic Primitives   Nonces, mining, and quantum computing -    • Bitcoin Q&A: Nonces, Mining, and Quan...   Public keys vs. addresses -    • Bitcoin Q&A: Public Keys vs. Addresses   Re-using addresses -    • Bitcoin Q&A: Re-using Addresses   What happens to our bitcoins during a hard fork? -    • Bitcoin Q&A: What Happens to our Bitc...   How do mnemonic seeds work? -    • Bitcoin Q&A: How Do Mnemonic Seeds Work?   Multi-signature and distributed storage -    • Bitcoin Q&A: Multi-signature and Dist...   What is Segregated Witness? -    • Bitcoin Q&A: What is Segregated Witness?   SegWit and fork research -    • Bitcoin Q&A: SegWit and Fork Research   Forkology: A Study of Forks for Newbies -    • Forkology: A Study of Forks for Newbies   MimbleWimble and Schnorr signatures -    • Bitcoin Q&A: MimbleWimble and Schnorr...   Protocol development security -    • Bitcoin Q&A: Protocol Development Sec...   Migrating to post-quantum cryptography -    • Bitcoin Q&A: Migrating to Post-Quantu...   Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in bitcoin. Follow on Twitter: @aantonop twitter.com/aantonop Website: antonopoulos.com/ He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters. THE INTERNET OF MONEY, v1: www.amazon.co.uk/Internet-Money-collection-Andreas… [NEW] THE INTERNET OF MONEY, v2: www.amazon.com/Internet-Money-Andreas-M-Antonopoul… MASTERING BITCOIN: www.amazon.co.uk/Mastering-Bitcoin-Unlocking-Digit… [NEW] MASTERING BITCOIN, 2nd Edition: www.amazon.com/Mastering-Bitcoin-Programming-Open-… Translations of MASTERING BITCOIN: bitcoinbook.info/translations-of-mastering-bitcoin… Subscribe to the channel to learn more about Bitcoin & open blockchains! Music: "Unbounded" by Orfan (www.facebook.com/Orfan/) Outro Graphics: Phneep (www.phneep.com/) Outro Art: Rock Barcellos (www.rockincomics.com.br/) Join the aantonop Channel: aantonop.io/joinaantonopyt

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