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A key generator, dubbed KeyGen, is a cryptographic tool that is used to generate unique keys or codes for products, services, nodes and addresses on a distributed ledger like a network. Such keys are used intrinsically by the blockchain network to authenticate a genuine user, buyer, address, or a transaction. In, such keys are used to create and represent the addresses, and (and their combinations) for users and their wallets, network, and even the various objects like and nodes on the blockchain network depending upon the configuration of the blockchain being used. To draw the simplest analogy, think about keys as the “License Code” that is required to be inserted while installing a particular software on a Windows PC.

You purchased a particular software CD, say Adobe Photoshop, and a license key is printed on the installation CD (or its cover). Another example is the secureID PIN required to login to an Internet banking account as an additional security feature. It dynamically changes after a certain time period, the secureID device generates a new key every minute, for example. In cryptocurrency and blockchain networks, various transactions originate, are processed and validated based on similar keys. These are required as standalone codes or as combinations, like those integrating public and private keys and wallet addresses, to make the transactions more secure. These keys may at times be represented in various formats, like hexadecimal representations, based on the blockchain configuration.

Blockchain key generators mostly produce dynamic keys which are valid for one-time use only. The big challenge in building and operating a key generator for a cryptocurrency network is to ensure its foolproof working mechanism.

The various keys, and their required combinations, need to be unique and unpredictable, yet verifiable for their authenticity by any external or internal participants. Such key generators for a blockchain network need to be dynamic in creating robust and uncrackable keys, and may additionally be required to maintain the history for verification purpose in future, like which key was assigned to which network artifact at what point in time.

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