Homework on Public and Private Keys - Questions

Blockchain and Bitcoin 101
#2072

  1. Public and private key is an integral part and or function of a blockchain in order to fully utilize it’s technology.

  2. Encryption (for sending encrypted messages) and digital signatures (for sending digital assets)

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#2073
  1. A private is yours and no one can see it, A public key is generated by the computer for people to see to
    encrypt and decrypt data.
  2. To ensure security,identity and authenticity
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#2074
  1. Describe the concept of public and private key with your own words.
    The private key is a big random number generated by your computer, then with a function the computer create a public key, this is a way one function because is impossible to know the private key with the public key
  2. What 2 use-cases can public key cryptography be used for?
    Encryption and digital signatures
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#2075

Homework on Public and Private Keys - Questions

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

A private key is based on a random number, generated by the user’s computer using an asymmetric cryptography algorithm.

There is almost zero chance of generating a private key which has already been created for another user, due to the excessive number of possible combinations.

This private key is intended to be known only by the owner - if it is lost, then the data associated with it will be irretrievable. If your private key is stolen, then the thief will be able to access your data (in the case of cryptocurrency, this means that they will gain access to your coins).

The public key on the other hand is freely visible to the network - this is used to create a cryptocurrency address through a unidirectional process - the private key (which the public key is generated from) cannot be derived from the bitcoin address, so this adds another level of security to cryptocurrency transactions.

If the public key is lost, this is not so problematic, as a new public key can be generated using the private key.

Public keys are used for encryption, and private keys are used for decryption - the sender of a message on the network encrypts it with the receiver’s public key, and the receiver decrypts the message with their public key.

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

Firstly public key cryptography can be used for the encryption of data exchange, to make it confidential in an open network. This way, only the holder of the private key which was the source of the public key used to encrypt the message can access the data.

Secondly, public key cryptography can be used to create digital signatures - this is the more commonplace usage with regards to cryptocurrencies.

The sender signs their message with their private key - the receiver then checks that the signature and public key of the sender were both derived from the sender’s private key. This confirms the authenticity and validity of the transaction.

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#2076

1- A private key can generate and decrypt a public key. It can also sign message. It must be kept safe. The public key is derived from the private key and can create a bitcoin address. It can be seen by anyone.

2- Public key cryptography can be used for encryption and digital signatures.

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#2077
  1. The private key is used to generate your public key. This is one directional as your public key can never be used to find your private key. They become related to one another. This enables you to digitally sign a transaction and only you can prove that signature belongs to only you.
  2. a) Encryption
    b) Digital signatures
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#2078

  1. Basically, public key is the BTC address that you share with others to send/receive BTC. Private key used to unlock the wallet that store our BTC. Public key is generated from private key but public key cannot be used to deduce private key otherwise, people can steal our BTC from our wallet.

  2. Encrypted messages and creating digital signatures.

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#2079
  1. Describe the concept of public and private key with your own words.

The concept of public and private keys are levels of encryption when transmitting data or in the case of bitcoin, transactions. A private key is just a bunch of random numbers, but a formula creates your public key from those random numbers that is the private key. This public key is what will be use to be given out on social media platforms or blogs when looking to receive a message, a transaction, or whatever piece of data. And the person who owns that public key will have to use their private key that is linked to gain access to what was sent over to them. A private key is also used as a digital signature when sending something out, like using your bitcoin. Also it’s a one-way pipeline. You create a private key, then that creates a public key, which is attached to a wallet. It cannot go the other way.

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

Encryption and Digital Signatures

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#2080
  1. s private key is a random bunch of numbers generated by your computer. The private key is used to generate a public key and any transactions created using your public key can only be deciphered by the private key.Your private key can also be used to create a digital signature which can be identified by using your public key.

2.It can be used as a digital signature and can also be used to send encrypted messages on public networks that can only be read by the person that holds the private key that generated the public key used to encrypt the message.

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#2081
  1. Describe the concept of public and private key with your own words.
    Private key is a randomly generated number which should be yours and yours alone.
    public key used to send messages or transactions and can be seen by everybody.
  2. What 2 use-cases can public key cryptography be used for?
    Encryption and digital signatures.
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#2082
  1. Describe the concept of public and private key with your own words.

Public/private key encryption is the foundation of Bitcoin wallets. Private keys are used to generate public keys which are in turn used to generate a BTC address. Similar to hash functions, this process of generating public keys and BTC addresses is uni-directional. In other words, someone with a BTC address cannot determined the public or private key associated with the address.

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

Encryption
Digital Signatures

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#2083

  1. So private key is something that my computer generate as something that should be owned by me, private key is able to create public key which is a code that everyone can see. So public key is like the output.

  2. Used as encryption, to encrypt message in an open and secured environment, so that only receiver can read it
    It can be used as a digital signature to let the receiver know that the sender is really the sender

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#2084

  1. A public key is the combination of letters and numbers that can be seen by everyone on the network. A private key can only be seen by you (ideally).

  2. Two use cases for cryptography are:
    a)Encryption
    b)Digital signature

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#2085
  1. Public key of the recipient is used to encrypt message or funds of the sender, then recipient uses private key to decrypt the sender message or funds.
  2. Sending encrypted messages or funds and digital signature to decrypt the message or funds.
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#2086
  1. The public key is used for encrypting data and as public identifier or address. The private key is needed for digital signing, generating public key and decrypting informations.
  2. Two use cases are encryption and digital signature.
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#2087

Your public key is your encrypted private key. The key that people can engage with without compromising your private key.

Sending crypto or messages.

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#2088

  1. Public key encryption involves two keys one private one public. the private key is used to create the public key. public key is known publicly. it is not possible to derive the private key from the public key.

  2. Two use cases:
    a. encryption where a message is encrypted with the public key
    pubKey(message) = encryptedMessage

    the message can only be unencrupted using the private key

    privKey(pubKey(message) = message

    so everyone can send a encrypted message to the one person who has the private key t
    hat can decrypt it.

b. digital signatures.

 priKeySig(message) = messageSigHash

send( messate + messageSigHash) 


 pubKeyVerify( message, messageSigHash) = publicKeyValid

 invalid signature or change in the message will invalidate the digital signature.
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#2089

  1. The private key is a random number. It is to be kept private. The public key is derived from the private key and is public for other to see. The public key is used to encrypt a message and the private key decrypts the message.

  2. Encryption and digital signature for a cryptocurrency transaction

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#2090
  • Describe the concept of public and private key with your own words.

Public= Encrypt
Private= Decrypt

  • What 2 use-cases can public key cryptography be used for?
  • To send/receive encrypted messages
  • To send/receive transactions
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#2091

  1. Public keys allow data to be sent securely over a open or unsecured network.The private key allows the recipient to view the data or verify the sender
    Incryption and signitures[quote=“ivan, post:1, topic:8431, full:true”]
    Homework on Public and Priva

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

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