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Tutorial: Generate Bitcoin private and public keys
Section 1: Generate Private key
|Step 1.1: Enter a passphrase.|
|Step 1.2: Generate private key from passphrase using SHA256 algorithm.
This is reversible back to the passphrase.
|SHA256 Private Key of Passphrase: (k)||
Section 2: Encode Private Key
|Step 2.1: Prepend the SHA256 private key with the version number , "
|Step 2.2: Append the SHA256 private key with the compression flag, "
|Step 2.3: Calculate and append the SHA256 private key with its checksum at the end, "
|Structured Private Key:||
|Step 2.4: Encode this structured private key with Base58 for easier readability.
This is reversible back to the structured private key.
This is the final private key.
|Base58 Encoded Structured Private Key:||
Section 3: Plot the Private Key
|Step 3.1 Multiply the SHA256 private key of Passphrase (k) by the eliptic curve generator point.|
|*||Step 3.2 Where the private key is charted on the eliptic curve, this has an x and y coordinate.|
Section 4: Generate the Public Key
|Step 4.1 Get the parity of the y coordinate.
(An even parity is 02 and an odd parity is 03)
|ODD. Parity of y:||
|Step 4.2 Prepend the parity of y to the x coordinate for the full public key representation.|
|Full Public Key Representation:||
|Step 4.3 Apply SHA256 to the full public key representation.|
|Step 4.4 Then apply RIPEMD160 to the output of step 4.3 to create the hashed public key.|
|Hashed Public Key:||
Section 5: Encode the Public Key
|Step 5.1 Prepend the hashed public key with the version number, 00.
(Different to the version number in step 2.1)
|Step 5.2 Calculate and append the hashed public key with its checksum at the end, 602653DA.
(Same as step 2.3)
|Structured Public Key:||
00 1aadd6e3649dba3532ce20f274a905bf96935676 602653DA
|Step 5.3 Encode this hashed public key with Base58 for easier readability.|
This is reversible back to the structured public key.
This is the final public key.
|Base58 Encoded Hashed Public Key:||
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