In the world of blockchain and cryptocurrencies, managing multiple private keys for different networks can be a complex and daunting task. Each blockchain network typically has its own set of keys and addresses, making it challenging to keep track of them all. But what if there was a way to simplify this process? What if you could use the same private key for both Ethereum and Hedera Hashgraph?
In this article, we’ll explore how you can achieve this by leveraging the same private key for both Ethereum and Hedera Hashgraph, two prominent blockchain platforms. This approach can streamline your wallet management and simplify your interactions with these networks.
To understand how this is possible, we need to delve into the world of cryptographic curves. Both Ethereum and Hedera Hashgraph use cryptographic curves for key pair generation and address derivation, but they use different ones.
Ethereum uses the secp256k1 curve, which is a widely used elliptic curve in the blockchain space. On the other hand, Hedera Hashgraph employs the Ed25519 curve for its key pairs.
The interesting part is that the same private key can be used to generate both Ethereum and Hedera Hashgraph key pairs, thanks to the mathematical properties of these curves.
Let’s dive into the code that demonstrates how you can generate a common private key and derive the corresponding key pairs and addresses for Ethereum and Hedera Hashgraph.
// Import dependencies
const ethers = require("ethers");
const { PrivateKey } = require("@hashgraph/sdk");// Generate a random secp256k1 private key
const commonPrivateKey = ethers.Wallet.createRandom().privateKey;
// Create an Ethereum wallet from the common private key
const wallet = new ethers.Wallet(commonPrivateKey);
// Get the Ethereum address associated with the wallet
const ethereumAddress = wallet.address;
// Create a Hedera Hashgraph PrivateKey object from the common private key
const hederaPrivateKey = PrivateKey.fromString(commonPrivateKey);
const hederaPublicKey = hederaPrivateKey.publicKey;
const aliasAccountId = hederaPublicKey.toAccountId(0, 0);
// Both the Common Private Key and the Ethereum Private Key will be the same
console.log(`Common Private Key (secp256k1): ${commonPrivateKey}`);
console.log(`Ethereum Private Key: ${wallet.privateKey.toString()}`);
console.log(`Ethereum Address: ${ethereumAddress}`);
console.log(`Hedera Private Key: ${hederaPrivateKey.toString()}`);
console.log(`Hedera Public Key: ${hederaPublicKey.toString()}`);
console.log(`Hedera Alias Account ID: ${aliasAccountId}`);
In this code, we start by generating a random secp256k1 private key using the ethers library. This private key serves as the common denominator between Ethereum and Hedera Hashgraph.
With the common private key in hand, you can derive the Ethereum private key and address using the ethers library. Similarly, you can create a Hedera Hashgraph Private Key object from the common private key using the @hashgraph/sdk library.
What’s remarkable is that the Ethereum private key, derived from the common private key, is the same. This means that you can use this private key to access your Ethereum assets without the need for an additional key.
The ability to use the same private key for multiple blockchain networks can simplify your key management significantly. You only need to secure and backup one private key, reducing the risk of losing access to your assets.
Keep in mind that while this approach works for Ethereum and Hedera Hashgraph due to the specific curves they use, it may not apply universally to all blockchain networks. Each network may have its own requirements for key generation and management.
In conclusion, understanding the mathematics behind cryptographic curves allows you to leverage the same private key for Ethereum and Hedera Hashgraph. This not only simplifies your wallet management but also enhances the security of your assets. So go ahead, explore this approach, and enjoy the convenience of using a common private key for multiple networks.
