So we're just talking about cryptography, and how it's essentially the driving force of blockchain and its value. So how does cryptography in the blockchain and its value, how is it different than how we been protecting content protecting data online in the past, like through a traditional database? Right, so traditional databases, I guess let's not go through the database right now, because we'll cover that later with hashing. But in terms of how we communicate right now, right? So let's say I go open up Chase for my Chase account, and now I need to go transfer data to Chase and get information about my account securely without someone in the middle being able to listen in and grab that data. So what we do is we have a essentially a key exchange, or we have a public key and a private key. And so I send my public key over to the bank, say this is my public key. They take my public key, encrypt a key that will be used for the rest of the traffic in that session. So then they go take that key, that's encrypted, send it to me. I go decrypt that key, and I say okay, we're now ready to transfer. There's also more handshake protocols, but that's essentially what happens- Just opening up a channel. Exactly, so we use public key private key encryption. So we have a private key, and then from our private key, we derive a public key. And now anyone can encrypt data with that public key, and then they can send us that data. And no one listening in the middle can go and tell what that data is, except for the person who holds the private key. So then you take your private key, unlock that data, and now all this garbage suddenly makes sense. [INAUDIBLE] information Exactly, so that's a public key, private key system. So that's called asymmetric cryptography. But then when we're communicating back and forth with the bank really quickly, we want a system that scales better, and is less computationally intensive. So what we have is something called a symmetric encryption algorithm. And so that's a single key that can both encrypt and decrypt. So that's the same thing with Bitcoin essentially, or no, that's different than Bitcoin. So Bitcoin has a public key and private key system. So you generate your private key, which is 256 bits long, which means there's two to the 256 possibilities for how many possible keys are could be. And so from this private key, so this key is what allows you to send your money. It allows you to authorize transactions, and then you have a public. So from your private key, you go do some elliptic curve math. We're not going to get into the math behind it. But essentially, from your public key from your private key, you derive a public key. And then with your public key, you hash that and create an address. And with an address, anyone can send you currency, anyone can send you Bitcoin. And then only you with your private key can unlock that currency and send it. I kind of forgot the question. So how do you see on blockchain compared to? Yeah, it's comparing. Yeah, so today the concept is that the data is public on the blockchain. But it doesn't have to be, you can secure it, means there are solutions in place. For example, the news cycle where yes, you can store data on the blockchain, but doesn't have to be readable by everyone, means whoever is storing. That person will have the key for it, and then it gets split into how many things you want- [CROSSTALK] So but the core concept still says that you have the key. And if you want to sell that data to someone, you can. Basically what you do is just send out using the key, so the other person is able to decrypt it. So there are two levels, one, the cryptography plays into here. When you do the transactions themselves, everyone knows who everyone else is, and that should be the transaction. Now, the payload on transaction data that gets stored, that also can be open to everyone, or can be encrypted. And that in itself you can do the public private key infrastructure, and sell it to whoever you want. And then you have, like you said, with Chase then, you would have maybe secure channels to actually read and write a transaction to the blockchain itself. So there can be key involvements of the cryptography into how you can securely store data. Another one is just go to maybe a different business perspective. You can still store it on the centralized blockchain, but running a private data center. Which would be useful for very sensitive data about user identity medical records, or things like that. Or I don't imagine you're on the US elections voting system, if you want to keep that safely. So it's possible you can apply cryptography at different levels. And would be a lot easier based on technology stack developed by the blockchain community on the. It will be easier to do election system very securely on a blockchain, so that can get encrypted many levels and securely transactions. And so it's when I look at it is a very open wide question you can apply in so many places. And the blockchain will actually facilitates it, so you would get away from traditional databases, or traditional transactional sites where you don't know what's happening behind it is secure or not. We've had so many breaches of our data and getting leaked. Yep. Personal data from all sorts of dating sites, or payment mechanisms, or medical records because they have no idea. I mean, they know, but they have no control of the security. Well, they say it is, but it's actually not very easy to do that. So again, the innovation coming from the blockchain communities addressing that question. I mean, even if you get your hands on the data, doesn't mean you can read it. You have to, Talk to a lot of nodes in order to get every single part of the key. And you don't know how many are there, and don't know if you have enough, and you don't know what to do with it once you get it. That's just the key, and then with data that- Yeah. Because it can be different algorithms, so.
