where are private keys stored?

[raslimali]

Hello community. Where does the blockchain store private keys for bitcoin addresses? They must really be stored somewhere. If I have for an example an online wallet with a private key, I think my private key is stored somewhere and not in my PC.

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[AB de Royse777]

Private keys are generated by a complex mathematical algorithm outside the blockchain network. The public key and address are then generated from the private key automatically during each transaction. Both keys are stored inside a wallet file and managed by the wallet software.

Rerence is here: https://hackernoon.com/bitcoin-safety-a-guide-on-how-to-keep-your-wallet-and-private-keys-secure-94cf7b7f4a00#:~:text=Private%20keys%20are%20generated%20by,managed%20by%20the%20wallet%20software.

So here the software is your bitcoin core.

Where does the blockchain store private keys for bitcoin addresses?

Blockchain is not storing any private key information.

[Maus0728]

Technically, they are not stored in the bitcoin network but rather in your bitcoin wallet, it is the only software who stores your key pair which are your public keys and private keys that allows you sign a transaction in the bitcoin network.

Keep in mind that if it is stored in your PC, you might consider that your private key is now compromised. In your case, if it is an online wallet, then it is more likely that that wallet in not holding your private keys which is not a good indication to store a large amount of BTC.

[batang_bitcoin]

I have a different understanding with what you're asking. You have mentioned an online wallet and blockchain, let me ask you if you are pertaining to blockchain.com wallet? Most online wallets will provide you the recovery phrases but if that's the wallet that you'll use in storing most of your bitcoins, choose a better wallet like electrum.

I think my private key is stored somewhere and not in my PC.

In the first place, you shouldn't keep your private keys in your computer. It's advisable to write it on a paper or make an encrypted backup. Private keys are shown before you create a wallet.

[RapTarX]

If we take an example, for instance, blockchain.com wallet, they create wallet for you which have encrypted private key. According to them, they don't have access to any user's wallet. On the other hand, custodial wallets hold the private key and they have access to it.
Read this for more info- https://bitcointalk.org/index.php?topic=2940300.msg30225995#msg30225995

[raslimali]

Technically, they are not stored in the bitcoin network but rather in your bitcoin wallet, it is the only software who stores your key pair which are your public keys and private keys that allows you sign a transaction in the bitcoin network.

Keep in mind that if it is stored in your PC, you might consider that your private key is now compromised. In your case, if it is an online wallet, then it is more likely that that wallet in not holding your private keys which is not a good indication to store a large amount of BTC.

Thanks everyone for taking time to respond. But if private keys are not stored on blockchain, how does the block chain know if I entered a wrong or correct password? It must have it somewhere in its memory

[NeuroticFish]

But if private keys are not stored on blockchain, how does the block chain know if I entered a wrong or correct password? It must have it somewhere in its memory

Are you confusing by chance Bitcoin's blockchain with a private web service called blockchain.com ?

Blockchain is a database. It doesn't have "its memory".

[seoincorporation]

Hello community. Where does the blockchain store private keys for bitcoin addresses? They must really be stored somewhere. If I have for an example an online wallet with a private key, I think my private key is stored somewhere and not in my PC.

If you use an online wallet they have to hold your private keys, in that scenario, the service should have a way to encrypt the private key in the database. The risk about this is that someone can access your wallet if they hack your credentials.

The safe way to make your own addys is with vanitygen.

[raslimali]

Let us take an example of an online wallet which I have and have private keys. It is on ethereum block chain from etherdelta. When you create an account there you get a private key. But is that private key only available or recognized when I use the device through which I created the account? It is definitely not because I can import my account to say a metamask extension to another device .

[raslimali]

Hello community. Where does the blockchain store private keys for bitcoin addresses? They must really be stored somewhere. If I have for an example an online wallet with a private key, I think my private key is stored somewhere and not in my PC.

If you use an online wallet they have to hold your private keys, in that scenario, the service should have a way to encrypt the private key in the database. The risk about this is that someone can access your wallet if they hack your credentials.

The safe way to make your own addys is with vanitygen.

So in case of etherdelta for example, it is an online wallet, do they have my private key? When you open an account there you are given a private key.

[raslimali]

But if private keys are not stored on blockchain, how does the block chain know if I entered a wrong or correct password? It must have it somewhere in its memory

Are you confusing by chance Bitcoin's blockchain with a private web service called blockchain.com ?

Blockchain is a database. It doesn't have "its memory".

I am just wondering if the blockchain has no memory how does it know whether the secret key i entered is correct or not.

[bob123]

Your private key is (or better: should be) only stored in your wallet on your PC / mobile / whatever device you are using.
They are not stored on the blockchain at all.

Your private key is used to sign transactions. These signatures can be verified using the corresponding public key.
No one needs access to your private key to verify signatures.

So in case of etherdelta for example, it is an online wallet, do they have my private key? When you open an account there you are given a private key.

In the case of etherdelta, they don't have your private key. The private key is generated locally in your browser.
You are not given the key from their server.

I am just wondering if the blockchain has no memory how does it know whether the secret key i entered is correct or not.

You don't ever enter your private key anywhere.
You sign a transaction using your private key. And everyone can verify it by using the public key.

For visualization:
A transaction = "I want to transact X BTC from address 1 to address 2
Then you sign the transaction using the private key of address 1.
Everyone can then verify the signature by using the public key of address 1.

Please note that this visualization is not completely technically correct. But it gives you an idea how it works.

[The Cryptovator]

@OP just keep in mind, privet keys aren't genarated from blockchain. It doesn't make sense that your private keys stored into blockchain, because everything on the blockchain in public. Everyone can see whatever on the blockchain. I don't if you have experience create paper wallet. That means you are able to genarate private key in offline, so how it stored into blockchain?

As others already said, private keys use to sign in the transaction into blockchain to validate transaction. Regarding sign in ehtherdelta with private keys, it will show the associate address with that private keys and that key will be use to sign the transaction. Even you may sign in via random private keys on there if the formate is correct and the address associate with it will be visible there. Overall the private keys used to spend your funds.

The private keys stored only on the wallet software where you may sign the transaction. Even where you genarated from there isn't stored as well (if legit sites and open sources). Actually there isn't any login system with private keys.

[pakhitheboss]

Hello community. Where does the blockchain store private keys for bitcoin addresses? They must really be stored somewhere. If I have for an example an online wallet with a private key, I think my private key is stored somewhere and not in my PC.

When you use an online wallet and a non custodial wallet you will remain tensed and aggregated as you do not have a clue about that wallet. Most of the information provided by blockchain.com is hidden. I went throught the same dilema. In my opinion it is the worst wallet for Bitcoin.

In 2020 you can download and use the best Bitcoin wallets, here is the list.

10 Best Bitcoin wallets for 2020

[bithisach]

I have a different understanding with what you're asking. You have mentioned an online wallet and blockchain, let me ask you if you are pertaining to blockchain.com wallet? Most online wallets will provide you the recovery phrases but if that's the wallet that you'll use in storing most of your bitcoins, choose a better wallet like electrum.

I think my private key is stored somewhere and not in my PC.

In the first place, you shouldn't keep your private keys in your computer. It's advisable to write it on a paper or make an encrypted backup. Private keys are shown before you create a wallet.

I agree that electrum is the greatest tool out there for a "lite wallet", it's very complete.

For OP, the blockchain can't and shouldn't know your private keys, your private key is that, the key that opens the public address holding the bitcoins. The blockchain doesn't need to know the private key, it only needs the transaction hash to confirm whether the real owner of said public key is the one sending the funds, if it's correct, the transaction goes through, if it isn't, it's not.

[raslimali]

I have a different understanding with what you're asking. You have mentioned an online wallet and blockchain, let me ask you if you are pertaining to blockchain.com wallet? Most online wallets will provide you the recovery phrases but if that's the wallet that you'll use in storing most of your bitcoins, choose a better wallet like electrum.

I think my private key is stored somewhere and not in my PC.

In the first place, you shouldn't keep your private keys in your computer. It's advisable to write it on a paper or make an encrypted backup. Private keys are shown before you create a wallet.

I agree that electrum is the greatest tool out there for a "lite wallet", it's very complete.

For OP, the blockchain can't and shouldn't know your private keys, your private key is that, the key that opens the public address holding the bitcoins. The blockchain doesn't need to know the private key, it only needs the transaction hash to confirm whether the real owner of said public key is the one sending the funds, if it's correct, the transaction goes through, if it isn't, it's not.

It is still confusing. How does the blockchain know if I am the real owner of the public address if it does not know my real identity (private key)??

[raslimali]

I am for example using etherdelta and they have an option to import an account. I insert the public key then i go to the next step to enter the private key. Then I just enter a string of letters and numbers then it says invalid key. This surely means that etherdelta knows what is the right private key associated with that public key. Otherwise it would accept whatever input.

[raslimali]

I have a different understanding with what you're asking. You have mentioned an online wallet and blockchain, let me ask you if you are pertaining to blockchain.com wallet? Most online wallets will provide you the recovery phrases but if that's the wallet that you'll use in storing most of your bitcoins, choose a better wallet like electrum.

I think my private key is stored somewhere and not in my PC.

In the first place, you shouldn't keep your private keys in your computer. It's advisable to write it on a paper or make an encrypted backup. Private keys are shown before you create a wallet.

I agree that electrum is the greatest tool out there for a "lite wallet", it's very complete.

For OP, the blockchain can't and shouldn't know your private keys, your private key is that, the key that opens the public address holding the bitcoins. The blockchain doesn't need to know the private key, it only needs the transaction hash to confirm whether the real owner of said public key is the one sending the funds, if it's correct, the transaction goes through, if it isn't, it's not.

Then should we say that the only one who knows my private key is my public address?

[Tolosi]

The core of the bitcoin protocol is in the eliptic curve math. Owner of the private key generates a transaction message and a signature of that message. Part of the transaction message is the that signature. Network can check if the signature is valid without the private key. Only transactions with valid signatures area accepted by the network. That is the beauty of the elliptic curve math. Your bitcoin address is derived from the private key using again eliptic curve and hash functions. Those functions are one way only. Somethimes math is beautiful. This is the case here for sure.

[bob123]

I am for example using etherdelta and they have an option to import an account. I insert the public key then i go to the next step to enter the private key. Then I just enter a string of letters and numbers then it says invalid key. This surely means that etherdelta knows what is the right private key associated with that public key. Otherwise it would accept whatever input.

Etherdelta - their server - does not know anything.
The local javascript applicatoin which is running inside your browser tells you that the private key does not match the public key.

Then should we say that the only one who knows my private key is my public address?

?
When you sign a transaction (as i have described in my post earlier), you are using your private key.
Everyone in the network can then verify it using the public key.

Whether you or someone else (with access to your private key) signed the transaction does not matter.