Private key is converted into public key from one way cryptography thereafter it is used to sign transaction etc etc. Is it possible to create a offline transaction?
I mean do all necessary things offline then it would result in some "lengthy random string" which can only be understand and processed by network. Once that lengthy random string is made we can convert into some hash of 32 bytes. Then write it on paper and then decrypt '32 bit hash' with computer connected to internet to yield "lengthy random string" which can be broadcast to network?
I don't know much about cryptography. But, I think. It is possible. How can I do it to ensure security of my private key?
If I am guessing it correctly, this is what you want to do :
1. Create transaction instructions ( in your words offline transaction ) from your public computer.
2. Secure that transaction instruction ( hashing is not the way to do it, as it will be irreversible. You can encrypt it, but basically you do not need that )
3. Send this transaction instructions to your offline computer and decrypt it.
4. Sign this transaction by your private key.
5. get this transaction back to online computer and broadcast it to netwrok.
https://www.armoryguide.com/OfflineTransactions.htmlThere are few security challenges though :
1. Transfer of transaction instruction ( unsigned transaction )from online computer to offline computer and transferring signed transaction back to online computer.
2. How you will ensure that the unsigned instructions are indeed coming from your online computer only ( In your case you propose it with encryption )
3. How you will secure the transport channel between online computer and offline computer.
One way to make it secure and automatic is using your own secure mail server to send PGP signed emails between both endpoints with both nodes running on TOR.
There are few more ways to do it which includes generating and scanning barcodes via webcam and many more.
Regards