Key pair

Chromia utilizes the power of public-key cryptography, a robust cryptographic system that employs a pair of keys: public keys and private keys, to establish secure and trustworthy transactions on the blockchain. These key pairs are generated using cryptographic algorithms and serve multiple purposes, such as authentication, encryption, and digital signatures.

Private Key: The private key is a confidential and securely generated secret known exclusively to its owner. It must be kept private and should never be disclosed to others. The private key plays a crucial role in signing transactions, messages, or data to provide irrefutable proof of authenticity and integrity.

Public Key: Derived from the private key through mathematical algorithms, the public key serves as a publicly shareable identifier or address of the key owner. It acts as a means to verify digital signatures generated with the corresponding private key, enabling others to authenticate the owner's actions or messages.

In the context of the Chromia blockchain, key pairs are indispensable for user authentication, safeguarding digital assets, and ensuring the integrity of transactions. The public key is typically employed as an account identifier, while the private key is utilized to authorize and sign transactions, thus demonstrating ownership and preventing unauthorized access or tampering.

Now, let's delve into an example scenario involving Alice and Bob, where Alice needs Bob to sign a transaction. Here is a step-by-step overview of the signing process:

1. Alice creates the transaction, which can be any transaction specified by the decentralized application (dapp) and determines whether it requires signing.
2. Alice includes her and Bob's public keys in the list of signers associated with the transaction.
3. Alice signs the transaction, and her signature is appended to the transaction's signature list.
4. Alice then shares the transaction with Bob, who can examine the raw transaction data to verify its accuracy.
5. Bob also signs the transaction, and his signature is added to the list of signatures.
6. Once the signers and signatures in the list are deemed valid, the transaction becomes eligible for submission to the blockchain.
7. The dapp (blockchain) validates the received transaction by decrypting the content from the signature and comparing it to the original transaction, ensuring that it was indeed signed by Alice and Bob's public keys.

By employing this process, Chromia ensures the authenticity, integrity, and security of transactions on its blockchain, facilitating a robust and trustless environment for its users.