Homework on Public and Private Keys - Questions

Blockchain and Bitcoin 101
#2032

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

  • The private key is random number generated by a computer, the chances of any computer generating the same number ever again are very small.
  • The public key is then generated with a formula from the private key.
  • The private key is used to sign transactions on the BTC network in order to proof the transaction came from the owner of the private key from a certain public key.

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

  • Encryption : ( example ) Person A sends encrypted message to person B’s public key, therefore only person B’s private key can decrypt the message. So only person B for whom the message was intended should be able to read it.

  • Digital signatures : ( example ) Person A sends transaction to person B, person A signs the transaction with the private key. Result : person B can verify the transaction was signed with the private key of the owner of person A’s public key.

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#2033

  1. Public Keys are used for other people to make transactions and send and receive where private keys are the means of signing a transaction and verifying it is the correct person. Private keys are not available and cannot be determined by knowing either the public address or the transaction id.

  2. Encryption and Digital signatures!

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#2034
  • Describe the concept of public and private key with your own words.
  • You create a random private key, and generate a public key through encryption. Now anyone can use the public key to encrypt secret information which you will be able to decrypt with your personal private key.
  • What 2 use-cases can public key cryptography be used for?
  • For identification (digital signature) and encryption.
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#2035

[quote=“ivan, post:1, topic:8431, full:true”]
Homework on Public and Private Keys - Questions

  1. Describe the concept of public and private key with your own words.
    Public and private keys are used to encrypt and decrypt messages sent through an unsecured network or forum. Every public key matches to only one private key. For example, if you encrypt and send a message using a person’s public key, he or she can only decrypt that message using his or her private key. Nobody will be able to read the message. A public key is a public information, available for everyone to see while a private kept is kept secret, only to the person who generated it.

  2. What 2 use-cases can public key cryptography be used for?
    Encryption and digital signatures are two use cases of public and private key cryptography.

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#2036
  1. Private key is your main key to your funds and your digital signature. A public key is derived from your private key which is linked to your private key and you would give out your public key to anyone.
  2. Public key cryptography can be used to send encrypted messages to a person or to verify a digital signature.
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#2037
  1. Public key is generated when an private key is created by an individual. The individual is the only one that knows the private key and uses it to uniquely verify an encrypted message that has been encrypted with their public key
  2. To encrypt an message and to identify with an digital signature
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#2038
  1. A public key is used to give to a entity that wishes to send information to you. A private key and digital signature is used to send information to a reciprocate. Private key and public key must match to confirm request made. Public keys are also derived from private keys.
  2. Wallets for cryptocurrencies and verifying a national voting system.
#2039

Public key is your address where coins can be sent to you. It is generated from the private key. The private key is generated by your computer from a random number and the public key is derived from the private key. Never give out the private key or your funds will be stolen. The public private key pair is used to cryptographicly send and receive messages and value.

The key pair can be used for digital signatures and for encryption.

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#2040

private keys are a random strings of numbers and letters. A private key is used to generate a public key. You can go from private key to public key, but not vice versa.
Use cases include signing transactions and keeping information private.

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#2041

Homework on Public and Private Keys - Questions

  1. Describe the concept of public and private key with your own words.
    Private key is a randomly generated large number using which you can access your funds and sign transactions in the blockchain. Using private key you can generate Public key which is another large number, that is used to encrypt data. The data encrypted via public key is only decrypted by private key. Public keys can be shared with anyone, whereas private keys cannot be; otherwise you may lose your funds in the blockchain.

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

  • Encryption and Digital signatures
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#2042
  1. Private keys are randomly generated strings of text and numbers. This is like an email password. It lets you create and sign transactions / messages. Public keys are generated using private keys. This is like your email address - freely shareable to the world, so they can send you transactions / messages.
  2. Encryption and Digital Signatures
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#2043
  1. a public key is a function that encrypts a message. a private key is a function that can decrypt a specific public key
    2 Encryption and digital signature
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#2044

What do you mean by that?
With your keys you can sign messages or encrypt data to another public key. Etcetera

#2045

Actually, a bitcoin address is not the same as the Public key. An address is calculated from the public key (some kind of double hash with a prefix and checksum) but technically, you can send bitcoin to a public key.

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#2046
  1. Public key and private key are used in cryptography to encrypt and decrypt messages. Private key is a random number using which a public key is derived. If a person wants to send a message over unsecured network he can encrypt message using a public key published by recipient which is actually derived from the private key. The encrypted message can only be decrypted by the recipient who has the private key. Also it can be used to digitally sign a message.
  2. Encryption a transmission and Digital signature are two use cases used.
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#2047

A private key is a randomly generated number. A public key is derived from the private key. However, the private key cannot be derived from the public key.

Encryption and digital signatures.

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#2048
  1. private keys are generated by computer and public keys are generated from private keys. Private to be kept private, public to be used publicly for signature verification related to transactions
  2. to encrypt digital currency or to verify someone sent via a digital signature
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#2049

1: A public key is for everyone to see the private key is for your eyes only.

2: To encrypt messages or to verify a digital signature.

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#2050
  1. Describe the concept of public and private key with your own words.
    -A public key is a randomly generated number of sufficient length so as to almost completely ensure that no other address exists that is the same. A public key is generated from the private key. You can go from private to public, but never from public to private. That is, you can’t determine the private key from the public key.
  2. What 2 use-cases can public key cryptography be used for?
    -The 2 use-cases are 1.) encryption and 2.) digital signature.
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#2051

What do you mean by encrypting currency? Sending a transaction is an example of digital signature and you can also send an encrypted message to someone :slight_smile:

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