Keys come in pairs consisting of a private (secret) and public key. Pan4afMmK9ZAtHMKB4PqJgYFe8VDIp0x7OpruTFugxA5hBTE=Įvery bitcoin transaction requires a valid signature to be included in the blockchain, which can only be generated with valid digital keys, therefore anyone with a copy of those keys has control of the bitcoin in that account.
Keys enable many of the interesting properties of bitcoin, including decentralized trust and control, ownership attestation and the cryptographic-proof secu‐ rity model. The digital keys in a user’s wallet are completely independent of the bitcoin protocol and can be generated and managed by the user’s wallet software without reference to the blockchain or access to the Internet. The digital keys are not actually stored in the network, but are instead created and stored by end-users in a file, or simple database, called a wallet.
Ownership of bitcoin is established through digital keys, bitcoin addresses and digital signatures.