Modern application development has wrestled with numerous shortcomings in the security paradigm. Blockchain can mitigate several of those shortcomings, but it requires devising means to integrate with conventional applications.
Mainstream cyber security businesses are already working on this, accelerating the blockchain-enabled security landscape.
This article will give you an understanding of how crypto wallets work and the role they play in authentication.
What is a crypto wallet?
A crypto wallet is, at its heart, a software client that manages cryptographic keys.
In asymmetric cryptography, which blockchain is built on, two keys are generated that are known as a key pair. The public key is able to create encrypted cipher text that only the private key can decrypt. The pair can also be used to sign data, proving the sender holds the private keys (without revealing the private key).
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