Need of explicit generation of public/private keypair...

Question

Initially, I was assuming that MultiChain, implicitly handles generation of public/private key pair & sharing public key with connecting nodes.

But later, saw "createkeypair" API command.

In what circumstances this command shall be used ?

Answer 1

The purpose of the createkeypairs command is to allow you to generate new public/private key pairs which are not stored in the node's wallet. This can be useful if you want to keep the private key external to the node. Follow this tutorial for some examples of how to use this: http://www.multichain.com/developers/external-key-management/

Comments

that's right; createkeypairs command generate new public/private key pairs.
It's understood that "private key" has to persisted into some secured DB or "Flat File".
But wondering, that,"importaddress" command, imports "public key" as well ?

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Yes, you can pass a public key (or several) to importaddress, as well as an address.