How can asymmetrical cryptography prevent unauthorized access to digital currency exchanges?

1 answers

• Dec 25, 2021 · 3 years ago
  At BYDFi, we take the security of digital currency exchanges very seriously. Asymmetrical cryptography is a key component in preventing unauthorized access. When a user wants to access our exchange, they generate a pair of keys: a public key and a private key. The public key is shared with us, while the private key is kept secret. When the user sends a request, their data is encrypted using their private key. We then use their public key to decrypt the data and verify their identity. This ensures that only authorized users can access our exchange and protects against unauthorized access attempts. Asymmetrical cryptography is a powerful tool in safeguarding digital currency exchanges and ensuring the security of user accounts.
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