You wouldn’t leave the house without your keys and you certainly wouldn’t leave without locking the door behind you. Without that key, anyone could walk into your home, take over all of your personal belongings and claim everything that is important to you. The damage would be devastating. In the on-line world, your key becomes just as important.
What Is a Private Key?
A string of encrypted numbers, your private key confirms that you are you and that as the owner, you approve of the transaction at hand. Each authenticated person receives a private key, a series of 64 letters and numbers that is only associated with that person. In addition, each person receives a QR code specific to them. While the public key creates the encryption, your private key decodes the information. And while the public key directs users to your wallet, the transaction may not go through without your personal signature, your private key. Essentially, your private key gives you access to your cryptocurrency and your personal data. Most importantly, it protects you from unauthorized access and the ‘burglars’ of the crypto sphere. A Private Key adds another level of privacy to the already secure and encrypted blockchain. With Three Step Authentication, you may be sure that when a private key is entered, you know exactly whom you’re sharing your data with as well.
What Is the Future of Passwords?
Considering the sophistication of the Private Key, we may begin to wonder what purpose traditional passwords really serve. In reality, Private keys, QR Codes, retinas and even fingerprints, will soon replace the ‘olden days’ of the password. Just think about how many passwords you have to keep track of in a day. If you’re like me, you have Post-It notes lying around everywhere just to keep them all straight. There’s a better way of doing things and it is here to make our lives easier and more secure.
As an old joke goes, “passwords are like underwear.”
- Change them often
- Don’t leave them laying around
- Don’t loan them to anyone
When it comes to private keys, the same thing is true, with the exception of changing them often. You’d have no need to change a 64-digit code, but if you needed to, you could. What a relief it will be to have just one QR code or one Private Key to keep all of your information safe.
What Is the Future of Private Keys?
In reality, Private keys, QR Codes, retinas and even fingerprints, will soon replace the ‘olden days’ of the password.TWEET THISPrivate Keys are here to create a safe vault for all that is important to us. Using BlockCerts blockchain, this will be achieved in three core layers:
- 3-Step Authentication, to ensure that you are who you say you are, and authenticating others.
- Your Private Key, which is the only way to unlock your private information and the only way to link that information to the data.
- The blockchain, which is a decentralized platform.
The blockchain is like an encrypted puzzle with pieces spread across the world. Using a Private Key, your information becomes truly yours. It takes the puzzle out of the virtual world as well as the real world, where everything you value becomes secure.