Learning Blockchain with ServiceNow and Hedera Hashgraph #1

Creating cryptographic keys for interacting parties

Original LI post: https://lkdin.io/3nHF

You will often hear people speaking about “blockchain” in general. While all blockchains use similar schemes, it’s essential for anyone who wants to leverage this new technology to pick up a real one and understand the main concepts and patterns.

At ServiceNow, we’ve chosen Hedera Hashgraph, and we believe the Hedera DLT is ideally suited for building enterprise use cases.

ServiceNow & Hedera represent the perfect environment to learn about blockchain for business.

Using the ServiceNow Hedera Connector, we will go through some basic concepts and patterns for blockchain development. Putting these building blocks together, you will be able to build DLT-enabled applications on the Now Platform.

Let’s start with the first one: 𝑪𝒓𝒚𝒑𝒕𝒐𝒈𝒓𝒂𝒑𝒉𝒊𝒄 𝒌𝒆𝒚𝒔.

Cryptographic keys represent an identity on the blockchain. Each key has two components: a public key and a private key.

Any party who owns the private key (and can sign with it) can demonstrate control over the public key.

Any user can generate cryptographic keys off-chain. The Hedera DLT is not involved in the generation of keys and doesn’t know about them until they are used in a transaction.

The blockchain doesn’t know the identity behind a key, either a person, organization, or device. Blockchain identity is pseudonymous.

Hedera supports two key generation algorithms, ECDSA and Ed25519.

The video shows how you create a key pair with the ServiceNow Hedera Connector, where the public key is publicly visible, and the private key stays in the connector wallet. The key is permissioned to the user that generated it, but the owner can also delegate.