Tetoka is based on the open source decentralized principle of cryptographic assets like bitcoin, with added rules and behaviors which take into account recent developments of crypto asset world and the troubles it overcame, to create a unified solution at the service of financial education. For the purposes of clarity, I took the liberty of referencing this great article by CoinDesk in which they explain how cryptocurrency transactions work, at the core level. The wording is modified to stay true to our brand in our efforts of decluttering the internet from more references to Bitcoin.
“My Tetoka wallet doesn’t actually hold my Tokas. What it does is hold my Tetoka address, which keeps a record of all of my transactions, and therefore of my balance. This address – a long string of 34 letters and numbers – is also known as my “public key.” I don’t mind that the whole world can see this sequence. Each address/public key has a corresponding “private key” of 64 letters and numbers. This is private, and it’s crucial that I keep it secret and safe. The two keys are related, but there’s no way that you can figure out my private key from my public key.
That’s important, because any transaction I issue from my Tetoka address needs to be “signed” with my private key. To do that, I put both my private key and the transaction details (how many Tokas I want to send, and to whom) into the Tetoka software on my computer or smartphone.
With this information, the program spits out a digital signature, which gets sent out to the network for validation.
This transaction can be validated – that is, it can be confirmed that I own the Tokas that I am transferring to you, and that I haven’t already sent it to someone else – by plugging the signature and my public key (which everyone knows) into the Tetoka program. This is one of the genius parts of Tetoka: if the signature was made with the private key that corresponds to that public key, the program will validate the transaction, without knowing what the private key is. Very clever.
The network then confirms that I haven’t previously spent the Tetoka by running through my address history, which it can do because it knows my address (= my public key), and because all transactions are public on the Tetoka ledger.”
Edited Source content –CoinDesk