Thursday, 25 April 2019

Why hashed public keys?

Hi,

I am currently pondering on why Bitcoin is using hashed public keys as some kind of a security mechanism...

I have understood that Bitcoin is using hashed public keys in P2PKH in order to obfuscate the public key of the receiver. As a result, this makes it harder to infer the private key from the public key.

Now where I am struggling, is the fact that once I have unlocked the script I am disclosing my public key. As a consequence, "everyone" knows my public key and can start the computation in order to calculate my private key (lets assume we are living in an age where calculating the private key from the public key possible) and steal my Bitcoins.

So what is the added value of hashing the public keys, or did I get sth wrong?

Thanks for any comment!

submitted by /u/novusopt
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from Bitcoin - The Currency of the Internet http://bit.ly/2PsOMn7

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