Homework on Public and Private Keys - Questions

Blockchain and Bitcoin 101
#183
  • The public key is used to enrypt sensitive information and the private key decrypts the information that was encrypted with the use of the public key.
  • The 2 use cases are encryption and digital signatures.Digital signatures verify who sent the message since the private key derives the public key which creates the bitcoin address. You send bitcoin using your private key and receive bitcoin to your bitcoin address.Cryptography and the use of public and private keys solves the security issue when we use the internet.
#184
  1. Its all about encryption and digital signatures. THe prpivate key is your password and from that you create a publick key that everyone can se. THen you can send encrypted Messages and sign digital signatures.

In btc you have your private key, from which you create a Public key and then create an adress. You need to use the Public key to sign transactions and reade encrypted Messages. If you lose your Public key you loose all your Money.

  1. The Public key can be used for encryption and digital signatures.
#185
  1. Private keys are random numbers generated using a hash function.It is private and known only to the owner of the key. This private key allows you to sign transactions, and generates a public key that can be used to receive transactions, publicly. Anyone can see it. However, It is impossible to reverse engineer a public key to find a private key. A hash function operates one way!
  2. Encryption used for messages and Digital Signatures used for financial transactions like Bitcoin
#186
  1. Describe the concept of public and private key with your own words.
  • Public and Private keys are encrypted hash algorithms that allow the user to send and receive transactions. This can be seen as the user’s identity and gives integrity in the network.
  1. What 2 use-cases can public key cryptography be used for?
  • The user can use the public key to write an encrypted message and also provide digital signatures.
#187
  1. Describe the concept of public and private key with your own words.
  2. What 2 use-cases can public key cryptography be used for?

The public key is a number made from the private key so that the transaction can be recoreded or some information shared. You can decrypr the public key if u have the private key but you cant decrypt the private key if you have the public key. The private key is a random “number”. So is the public key.

Public keys can be used to share information, u can use public key to get paid in a wallet.

#188
  1. Describe the concept of public and private key with your own words.

In cryptography you use private and public key pairs to prove a transaction. The private key is a randomly generated number. The public key is derived from that number via a mathematical formula. They are created as a unique pair.

  1. What 2 use-cases can public key cryptography be used for?

First use case: To send an encrypted message, the sender must sign the message using the private key. This encrypts the message. The recipient can mathematically verify that the signature comes from the sender’s private key, by checking both the public key and the signature.

Second use case; Creating a bitcoin wallet and sending a bitcoin transaction from wallet to recipient wallet.

GENERATING A BITCOIN WALLET

  1. generate a private key >>>
  2. generate a public key >>>
  3. generate a bitcoin address

SENDING A BITCOIN TRANSACTION -

  1. Sender signs the transaction with their private key,
  2. sends to recipient’s bitcoin address, which is derived from the recipient’s public key, which in turn is derived from the recipient’s private key.
#189
  1. A public key is generated from a private key which is a random number (so large that it is infeasible to guess). Others need your public key to point to you, where you will be the only one to read/get it there you are the only one with the private key which is needed to decrypt it.

Also in Bitcoin, you need your private key to sign a transaction so it is known that the transaction came from you.

?? The public key is to receive and the private key is to send/sign/decrypt ??

    1. Encryption 2) Digital signature
#190
  1. Describe the concept of public and private key with your own words.
    the public key is for everyone to see and you use together with the privat key through a mathematical calculation so that the result is encrypted
  2. What 2 use-cases can public key cryptography be used for?
    you can sign with the public key to be sure that it is you are the holder of the private key
#191

Public and Private Keys - Questions

  1. Describe the concept of public and private key with your own words.

A private key is a large random number that acts as a password to prove who you are to the system when dealing in encrypted services. A public key is derived from the private key through a one-way function. Your public key is what others can see and use to transact with you through encrypted means.

  1. What 2 use-cases can public key cryptography be used for?

Encryption - X encrypts a message to send to Y using Y’s public key. Y decrypts message using their private key.

Digital Signature - X sends a message to Y and signs the message with a signature derived from their private key. Y can use this signature to confirm that it was indeed X that sent the message.

#192

  1. Private key is a large number that you generate for yourself used to encrypt or digitally sign your message/transaction. Public key is a product of numbers generated from your private key that represents your digital identity. A public key is used to give people that want to encrypt a message that is directed to you . Their message is encrypted with your public key and the only way to view it , is to use your own private key to de-crypt the public key that you have originally generated from your private key.

  2. Public key can be used for either encryption or in combination with the private key to digitally sign and verify your transaction.

#193

  1. Describe the concept of public and private key with your own words.
    I crypto a public key can only be generated by a private key and the address can only be generated by the public key. And you cannot generate the private key from the public key.
    In crypto you can only sign a message with your private key. Where the signature is a proof that a given address has sent the message. The public key of an address can be used as proof that the private key of the same address was the private key that signed the transaction.

  2. What 2 use-cases can public key cryptography be used for?
    It can be used to send an encrypted message encrypted with a public key that only the owner of the private key that generated the public key can read. Or second it can be used like in crypto as a way to proove that a certain person/entity sent a given message.In the second way the private key generates a signature that gets attached to the message.

#194

  1. Private key is used to encrypt and sign messages and data sent, and can be verified through the public key.
    The public key you can share, but the private key is crucial to store in a safe place. Your public key is derived from the private key, and the bitcoin adress is derived from the public key. Its a one way function so it can’t be reversed.

  2. For encrypting data and signing messages to verify the sender.

#195

Question 1

Describe the concept of public and private key with your own words.

The concept of public and private keys comes from public cryptography. The idea is if I wish to send a message to you through public channels in such a way that no one else can read it i need to agree upon a code with you that will allow us to decode each others messages. It works in the following way. I generate a number and call it my private key. I then create a public key with my private key. The person I wish to communicate with does the same process. We each then exchange our public keys with each other. When i send my message to you i encrypt the message with my private key. When it reaches you then you may decrypt it with my public key. This process is one way. a private key cannot be derived from a public key but a public key can be derived from a private key.

Question 2

What 2 use-cases can public key cryptography be used for?

The 2 use cases public key cryptography can be used for are

  1. Encryption messages can be encrypted by using the receivers public key. The receiver can then decrypt the message using their private key.
  2. Digital Signatures The sender can encrypt using their private key and the receiver can verify that the sender is the actual sender by decrypting using the senders public key.
#196

public key derived from private key more secure
encryption and privacy

#197

Hello there
Homework

  1. You create Private key from private key is generated Public key. Private as the word says is yours and private on other hand public key is to others to see and use. To send signed message you have to use private key and to verify that message came from origin source recipient have to compare signature made from private key to public key through mathematical process. And to send encrypted message back to origin source you use public key that only private key can decrypt.
  2. a) As I mentioned above public key can be use to encrypt messages.
    b) In transactions where you sign with private key (nodes verify the transaction), outcome will be digital signature and it can be compared to public key to verify origin of the transaction.
#198

  1. From what I am able to understand on a basic level, a private key can be generated by a specific user and then from that key a public key is derived. A public key can be shared and is what locks or encrypts a message that is sent from one user to another and only the matching private key (which should be kept totally secret in order to ensure security) can unlock or decrypt that particular message. While it is possible to go from a private key to a public key, it is not possible to work backwards and determine what a given private key is based on the information provided in the public key.

  2. The two use-cases for public key cryptography are encrypting and digital signatures.

#199

  1. Public keys may be shared and private keys are known only to the owner. The public key is derived by a mathamatical formula (hash) from the private key. Any person can encrypt a message using the receiver’s public key, but that encrypted message can only be decrypted with the receiver’s private key.

  2. Encryption and digital signature.

#200

  1. Private key is a random number generated by a computer and is your personal identity. Only you can sign transactions for your tokens with this number. A public key is generated from a private key and can be shared to the public.

  2. Encryption & Digital Signatures.

#201
  • Describe the concept of public and private key with your own words.
  • What 2 use-cases can public key cryptography be used for?

1.Public key is like bank account that you can share publicly. Private key is like key, that u use to unlock that bank account/spend coins from it.
2.It can be used for encryption to be readable just for private key owner. Or for identity confirmation with the private key.

#202

  1. Public key - is open to everyone to see and that can be generate to a private key.
    Private key - to assure that you have a 2 signature if sending a message to another person and that no could not see it.

  2. Encryption and a digital signature