How To Create An Ethereum Account - YouTube

(bright jingle)

- Today we'll be learning about Ethereum accounts,

and the math behind creating one.

To interact with Ethereum in any meaningful way,

you need to have a user account.

- [Narrator] The simplest way to create an account

on Ethereum is by using the Mist Ethereum Wallet,

which is an application that allows you to manage

and interact with multiple Ethereum accounts.

Launching the application will sync to the blockchain,

meaning it will download the entire blockchain data

to your computer, which can take upwards of 100 gigabytes.

So be warned.

When you first launch the application,

it will walk you through creating an account

and setting a password for it.

It's very important that you never forget this password

to maintain access to the account.

There is no Forgot Your Password option.

Your new account then shows up

in the Wallet section of the app and it has a balance of $0.

Clicking on the account will give us more details about it,

and provides some options

for putting some real ether into it.

The main thing to note is the public address,

which you will share with other people.

Another way to create an account is via the command line.

If you download the Go Ethereum Client or geth

can simply invoke geth account new

to create an account.

This will prompt you to enter a password,

which again you should never forget,

and at the end, it prints out the public address

of your new account.

You can create as many accounts as you like,

and you can view them all by typing geth account list.

Note that this also shows the account we created

in Ethereum Wallet.

Another interesting thing to note

is that we don't even have to be connected to the blockchain

or even the internet to create an account.

It can happen entirely offline.

How is this possible?

We know that we need to generate a cryptographic key pair,

which consists of a public and private key.

But don't we have to register this key pair somewhere?

What if someone else is already using this key pair?

Even though it's technically possible,

it is highly, highly improbable.

Let's talk about why.

There are three steps involved

in generating an Ethereum public address.

The first step is to generate a private key,

which is just a random number, represented by 256 bits.

The second step is to use Elliptic-curve cryptography

to generate a 512-bit public key.

Each private key maps to exactly one public key.

The third and final step is to calculate the Keccak256 hash

of the public key,

and then keep the right-most 160 bits of the Keccak256 hash

to get the public address.

This is essentially a mapping of 256-bit private keys

to 160-bit public addresses,

meaning each account has more than one private key.

Security is achieved in the randomness

of selecting the private key.

As long as you guess something sufficiently random

and not like, one or two, it's highly unlikely

that someone else would also generate the same private key.

To give you a sense

of how many possible private keys there are,

let's take a look at some numbers.

There are 10,000 possible 4-digit iPhone passcodes.

So if someone were to try to break into your phone

by guessing each passcode, it would be pretty hard,

because they would have a one in 10,000 chance

of getting it right.

But it would be fairly easy for a computer

to try 10,000 passcodes pretty quickly.

Apple also claims a one in 50,000 chance

of a fingerprint ID matching a stranger's,

and a one in million chance of a face ID matching,

making your phone more secure.

At a few orders of magnitude larger,

we have 7.5 billion humans on the planet.

And we estimate that the Big Bang took place

some 14 billion years ago.

Larger still, we estimate around 400 billion different stars

just in our own galaxy.

Many, many orders of magnitude larger still,

we estimate that there are around seven times ten

to the power of 27 atoms

in the average adult male weighing 150 pounds.

Many orders larger still,

we estimate there are 1.3 times ten to the power of 50 atoms

in the earth.

And even larger still,

we come to the total number of possible private keys

using 256 bits.

One times ten to the power of 77.

This number is so big that if we took all the numbers

we just talked about before, and added them all up,

they still wouldn't even be half of this number.

It's unbelievably big.

So the chances of someone randomly generating

the same private key is sufficiently low

that it's practically impossible.

Staging a brute force attack

by trying each possible private key

would also require an unachievable amount

of computational power,

like a planet-sized computer

working since the beginning of time.

- To learn more about Ethereum accounts and using Wallets,

check out our online guides and courses at blockgeeks.com.

Thanks for watching and see you next time!