Homework on Public and Private Keys - Questions

Blockchain and Bitcoin 101
#2294
  1. Describe the concept of public and private key with your own words.
    Private Key is unique key generated by owner. Allows full decryption of owners “data”. Public Key is derived from Private Key, its public and allows only encrypting data which can be decrypted by Private Key.
  2. What 2 use-cases can public key cryptography be used for?
    Encrypiton and Digital signature which is mostly used in Bitcoin.
1 Like
#2295

1.a public key is used to send a message or transaction a private key is a digital finger print that allows you to sign the message.
2. encrypted messaging and digital signing

1 Like
#2296

  1. Describe the concept of public and private key with your own words.
    Private key is a number created randomly by a computer, from it can create the public key. The public key is shared, can be used for receiving crypto or messages for example.
    The private key is not to share at all, its used to sign for send crypto.
    From private key we can go to public key but not vice-versa.

  2. What 2 use-cases can public key cryptography be used for?
    Digital signatures and encryptions

1 Like
#2297
  1. Your private key is a randomly generated number within parameters. Which generates anothe random number to create your public key. Public is for all to see and send. Private is used to verify and sign, secret.
  2. digital signature and encryption
1 Like
#2298

Technically you verify the signature with a public key, that was signed with a private key. But yes :slight_smile:

2 Likes
#2299

  1. Private key is your own personal key for wallet access, signing transactions & messages etc. Public key is derived from private key and is shared to, for example, a recipient of a message or transaction for him/her to verify the sender together with the signature.

  2. It’s used for encryption of transactions/messages and digital signatures.

1 Like
#2300

  1. Private key is for the owner of the key. The Private key can be used to create a public key. This public key can be shared. It can allow for Encryption or Digital Signatures.

  2. Encryption or Digital Signatures

2 Likes
#2301
  1. A private key is a large randomly generated number. A public key is mathematically derived from a private key, but a private key can’t be derived from the public key. A message is encrypted using the public key and sent/ broadcasted. Only the person with the private key that was used to derive the public key that was used to encrypt the message can decrypt the message.
  2. Public and private keys can be used for both encryption as well as digital signatures.
1 Like
#2302

  1. Public and private keys can be used for encryption and digital signatures. We can encrypt data using public key and can be decrypted using private keys. We can also sign messages or data using private keys and cab be verified using public keys.

  2. For verifying a signature and for encryption.

1 Like
#2303

An algorithm that takes a private key and generates a public key from it. This public key can than be broadcast and anyone can encrypt a message with it which can only be decoded with the original private key.
Also, the private key can be used to produce a ‘signature’ and anyone can verify with the public key that the signature was produced with the same private key as the broadcasted public key was.
In effect it can be used to verify that whoever sent a message has a specific private key.

Encryption and Digital signatures.

1 Like
#2304

  1. A public key is based off of the private key and therefore has a mathematical relationship allowing a second party to send an encrypted message or transaction that can only be read by the person/s with the private key. The public key can be shared with anyone and the private key cannot be derived from it making it secure.

  2. Public key cryptography can be used for encrypting private messages in public forums and the verification of identities through digital signatures.

1 Like
#2305
  1. Private key should be kept secret and it can be used to create a public key. Public key can be open to others and they can see that it was generated by your Private key, without knowing your Private key.
  2. Public Key cryptography is used to create your Bitcoin wallet. Another use is digital signature. For Example, when you sign a message to verify your Bitcoin ownership in order to receive an airdrop coin.
1 Like
#2306
  • Public/private key mechanism is a mathematical tool which can be used to encrypt and sign data. Users of this tool have at their disposal 2 instruments: a private key, a random number which needs to be kept secret, and a public key derived from the private key, which can be publicly shared with other users. If user A wants to send to user B an encrypted message, user A encrypts the message using the public key of user B and then, only user B will be able to decrypt the message using its private key. If user A wants user B to be able to ensure the message he sends is coming from him, he can sign the message using its private key and user B will be able to confirm that the received message is coming from user A and that the message has not been modified, by checking that the signature included in the message matches with user A’s public key and the content of the message… Simple! :slight_smile:
  1. Use case 1: send an encrypted email ; use case 2: check that a downloaded digital content is legit.
1 Like
#2307

  1. Public and Private key are two tools that is used in encryption. Public key of the recipient is what the sender of the encrypted data or message needs in order to make sure that only the intendent recipient can decrypt the data/message only by using the Private key.

  2. Public Key cryptography is used in Crypto currencies like Bitcoin. The Bitcoin Address is basically the Hash of Public Key. So basically, The Private Key is needed to for making the Public Key and the Public key is needed to make the BTC Address. This ensure extra layer of safety to an already statistically safe method.

1 Like
#2308

1.- Private key is a randomly generated number that allows you to verify identity since only you should know this number. Public key is a derived number, probably using a hash function, from the private key that can be published. A private and a public key pair make a Bitcoin address.
2.- Public key cryptography can be used to send messages; encryption, and in the case of Bitcoin it can be used as a Digital Signature.

1 Like
#2309

  1. The private keys are random numbers generated by your computer, which then derive a public key, using cryptography. Private key is your password to get access to your account, and public key is the account number, that can be seen by anyone on the network. If someone gets access to your private key, they can access and spend your funds.

  2. Cryptography is used for data encryption and digital signatures. Data encryption is a way to assure that only the intended recipients have access to the information sent. And digital signatures makes it possible to verify if the information was sent by a trusted partner.

1 Like
#2310

You described encryption in the first question. The other usecase that is used in cryptocurrencies is digital signature.

Technically the public key is hashed just to save on storage, not for security although it might also be a bit safer in doing so. :slight_smile:

2 Likes
#2311

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

    A public key is an openly shared and accessible digital address for a unique wallet.
    This public key is derived from a private key that only the owner of this wallet would have access to. The private key is used as a digital signature as a form of identification.

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

    Encryption and digital signatures

1 Like
#2312

  1. You generate a Private Key which in turn generates a Public Key, which can generate a Bitcoin address. You can not go in the other direction. Private keys must be kept secret, loose your keys loose your coins.

  2. Encryption…and digital signatures

1 Like
#2313
  1. Describe the concept of public and private key with your own words.
    The private key is a random number of which you can create a public key. There is no possibility to go the other way around which is a very important feature for the cryptocurrencies.
  2. What 2 use-cases can public key cryptography be used for?
    They are encryption and digital signatures.
1 Like