- The public key may be distributed to identify the holder of the private key, whereas the holder of the private key must keep their private key secret in order to maintain their data security over the messages being sent via their keys.
- Two use-cases public key cryptography may be used for private message transmissions, as well as financial transactions such as in the case of cryptocurrency.
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Private keys are used to create public keys. In regards to BTC, the public key also generates a BTC address. These keys are a one way street and can only be used by first utilizing the private keys to conduct a transaction. If it were not one way someone could use your public key to access your private keys and move your assets at their leisure. In essence do not lose or give away your private keys.
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Two use cases for public key cryptography include are encryption and digital signatures.
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A public key is like the public address to your business that can be found very easily if looking for it. The private key is the smart lock on the door that makes the things inside secure.
2 use-cases are encryption and digital signatures.
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A private key is a random series of numbers generated for instance when you initialize a wallet. With you private key you can create a public key. You can never derive the private key from your public key. It’s always the other way around.
Private/public key cryptography can be used in encryption and crucially for us, in digital signatures, which are used in crypto currencies.
In Bitcoin your address is derived from your public key, which is derived from your private key. Lose you private key and you can’t sign any transactions from the related bitcoin address. The funds are lost.
The number of possible private keys is so vast that you don’t ever have to worry about losing your funds by someone else initializing a wallet and getting the exactly same private key.
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- Public and Private keys have a very important usage in crytpocurrency. The keys are made for account security. When a person creates an account their computer makes a special sequence of numbers for that specific wallet which is the private key, the private key of that wallet generates a public key that can be used to send messages or digital signatures through a publicly viewed system maintaining your account security because like hash functions they are one way functions. Public keys can’t be used to determine a private key only.
- Sending encrypted messages on a public interface, sending a digital signature through the platform, any sending of sensitive account information through a public interface.
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- Describe the concept of public and private key with your own words.
The public key is used for letting people send you an encrypted message or transaction while the Private key is for you to used to decrypt that message. - What 2 use-cases can public key cryptography be used for?
Encryption and Digital Signatures
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- Private key is a random group of number that is generated from the computer. A Public Key is generated from the Private key which is shared to the public. You can send information(eg a message) from the public key to the private key however never the other way around.
- Encrypted emails or bitcoin transactions
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- Describe the concept of public and private key with your own words.
- Public key & Private key are unique keys that are paired. Public keys can be shared in order to receive transactions but the Private key is required in order to decrypt the data.
- What 2 use-cases can public key cryptography be used for?
- Encryption & Digital Signature
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- Describe the concept of public and private key with your own words.
Your private key is a cryptographic data set you’d prefer to keep private if you wish to keep said “data” 
… The private key is used to decrypt data transferred to it via the public key. The public key is the access point by which your private key receives and decrypts data securely. Public key data cannot be received or decrypted without the private key.
- What 2 use-cases can public key cryptography be used for?
Public key uses involve sending / receiving private data securely and signing for transactions.
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1- private key is your way to access your fund and sign transactions on the blockchain.
private key must remain private.
you can encrypt your private key to have a public key to share with everyone in the world.
your bitcoin address is the encryption of the public key.
2- digital signature, encryption
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Public keys can be shared with anyone. Public keys are derived from private keys. Private keys need to be kept private else you lose the power of privacy that a Private/Public key gives you.
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a) A message can be encrypted using the public key. The only way to decrypt that message is to use the Private keys. This allows someone to send messages that can ONLY be read by the owner of the private keys.
b) The owner of the Private/Public key combination can use the Private key to create a digital signature. That digital signature can then be validated using the Public. This allows someone prove that they and only they have authored the message in question. It is a way for the public to validate that a message actually came from the owner of the Private keys.
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Homework on Public and Private Keys - Answers
- Private key is a number generated by your computer that can be used to derive a public key. There is no mathematical way that the public key can be used to derive a private key.
- The 2 uses are 1. Encription 2. Digital Signatures
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Describe the concept of public and private key with your own words.
Private key is a personal key that is generated by the computer and should not be shared as this will expose your data. The Public Key is one that can be shared and other persons can use to send you encrypted messages and once it is received back, the it is compared to private key and it is verified and accesible. -
What 2 use-cases can public key cryptography be used for?
- To send and receive encrypted messages.
- To securely receive and send crypto currency.
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Describe the concept of public and private key with your own words.
-the concept behind the Private key is that we hold the keys to our wealth. We have to protect it and keep it in a safe place as it is Private. From the Private key you can generate a Public key and then a Bitcoin Wallet address in which can be used publicly to transfer funds into it by other parties. -
What 2 use-cases can public key cryptography be used for?
- The two use cases for Public key Cryptography would be for Encryption and Digital Signatures.
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1.The private key is created by a base16 random output that is unique to your computer, from the private key you can generate the public key which is another random assortment of numbers and letters which is a one-way function and is completely safe to share with the world.
2.Digital Signatures, and Encrypting Messages.
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- Describe the concept of public and private key with your own words.
Private key is a random number generated by your computer. Public key is derived from the private key and can be shared with anyone. - What 2 use-cases can public key cryptography be used for?
- sending of encrypted messages
- digital signatures = you can verify the sender of a message
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Describe the concept of public and private key with your own words.
these two keys are to verify and secure the content inside the data. The private key is generated mathematically and then you can create a public key from it. but not the other way. -
What 2 use-cases can public key cryptography be used for?
Encryption and Digital signature. The first one is to add public key of the person you want it to send and they can open it with their private key. And the other usage is to have a digital signature from the private key to let the receiver verify the sender.
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Describe the concept of public and private key with your own words.
In cryptography public key is used to encrypt data that will only be able to be decrypted by the corresponding private key. Private key is the personal piece of cryptography, public key is derived from the private key. Public key can be shared with everyone. Anyone who uses your public key to encrypt a message is ‘unreadable’ by anyone who does not have your private key. -
What 2 use-cases can public key cryptography be used for?
encrypted messaging, digital signatures
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The user gets a randomly generated private key and another key (public) calculated by an algorithm, based on the first one. The “private” key is called this way because it belongs to the particular user and is not supposed to be shared with anyone. The “public” key gets it’s name by the fact that everyone can find and see it. By having the private key you can decrypt messages encrypted with the public key, while with the public key only - you can NOT do such thing. It’s also important to note that you can find out what the public key is, based on the privet key, but you can NOT figure out the private key, based on the public one.
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One very common example of this concept is the Secured network (httpS) which uses certificates that are basically a pair of keys - there is one on the server of the website (the private key) and there is one public which browsers use to communicate “privately” with the server. Another obvious use case online payments and lots of things related to our crypto world.
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- Public key is for public to interact with you like sending transactions/ money/ or data verification. Private key is used for generating a signature to spend your money or changing the data. Private key is for individual use and Public is for Public use in layman terms.
- Public key cryptography can be used to encrypt and decrypt data to protect it from unautharised use.
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