Please double check this article.
This private key is stored on the blockchain, allowing anyone to verify your ownership by referencing your corresponding public key.
Private key isn't stored on the blockchain.
1. Encryption: The transaction is encrypted using your public key, making it accessible only through the corresponding private key. This encryption ensures the confidentiality of the transaction data.
This part is wrong since there's no encryption involved when creating Bitcoin transaction. There's no confidentiality since the amount, sender address and receiver address are known.
ETFbitcoin, I sincerely appreciate your invaluable contributions to this forum. I've corrected the errors.