Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Zed0X on March 20, 2019, 05:11:00 PM
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I've had this in mind before but never really delve into it that much and then I came across this article https://thecurrencyanalytics.com/5000/reverse-engineering-public-keys-of-crypto-can-soon-be-a-threat/
Quote from the article
It is about reverse engineering, where the private keys which represent the control you have over your wallet. The public key is essentially your wallet which holds your crypto balances.
And therefore I think that is a real credible threat. Bitcoin is a public ledger; therefore, so you can go out and see the public keys which are holding the massive balances and you could go out and target the several hundreds or thousands of Bitcoin and say I’m going to spend my effort on the computing resource in order to reverse engineer the private key from the public key, which is exposed. I think that is even a near-term threat.
I still do not know what are the chances of someone gaining access to your private keys from knowing your public keys. To all technical guys here, please share your opinions.
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I'm struggling to justify this with a real answer, since this "VP" didn't provide any mathematical or cryptographic evidence into how they believe this is possible.
Public-private-key cryptography (https://en.wikipedia.org/wiki/Public-key_cryptography) is based on elliptic curve mathematics. Having the generic "K" value of the public key doesn't give any clue of the randomly generated "K" value of the private key, which is near infinite. FYI every transaction you make uses a signed message which is authenticated from the public key - subsequently every network has your public key, in order to process the transactions, this is the entire purpose of it. Clues in the name ;)
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That's interesting. Maybe what the VP meant when he said "threat" is that some people may fancy doing it. I do not think those who will try will succeed even if their soul is reincarnated million times ;D
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I think that it is impossible to calculate the private key by the public address, since there is no relationship between them. The private key and public address are randomly generated and do not depend on each other. You can hack a wallet by accidentally typing the code of the private key, but this chance is very small and we can’t predict exactly which wallet we can get into.
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this is very good and I really believe and believe that this will be very helpful in development, and I will always support it.
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Until this very moment, it is not possible it may become a threat with quantum computing but until this happens I believe that Blockchain will develop farther and make it impossible to happen because simply the advancing is not happening in one field only when computing advanced blockchain would be advanced too.