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Seeds are usually not saved on the blockchain. Somewhat seeds are used to generate non-public keys, that are then used to create digital signatures, which function proof that the proprietor of it agrees to the transaction.
Bitcoin transactions create transaction outputs that comprise the worth in Bitcoin assigned to them, in addition to the circumstances required to spend that output as an enter to a different transaction. The proprietor of that output, and due to this fact the Bitcoin worth related to it, is the individuals who can fulfill the circumstances specified within the output. The commonest situation is that of a digital signature – the output specifies a public key (or its hash) and so the situation is that the spending enter should comprise a digital signature created by the non-public key similar to the desired public key.
As their identify suggests, public keys are supposed to be public and could be shared publicly with out publicity of the non-public key. The non-public key, because the identify suggests, have to be saved non-public. It’s then used to generate the signature. The maths works out such that it isn’t potential to compute the non-public key for a public key, neither is it potential to create a signature for that public key with out additionally having the non-public key.
A seed is solely one other non-public key, as it’s used to generate different non-public keys. Though seeds are usually not usually used instantly as non-public keys for producing signatures.
Lastly, Bitcoin doesn’t require any kind of registration of public keys when their non-public keys are generated. The area of potential non-public keys is so giant that it’s principally unattainable for 2 folks to generate the identical non-public key if they’re producing their keys appropriately. Nonetheless, on condition that possession is principally outlined as the flexibility to spend an output, if non-public keys are improperly generated, or an output has insecure spending circumstances, a number of folks might “personal” the output and be capable of spend it independently of one another.
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