Homework on Public and Private Keys - Questions

Blockchain and Bitcoin 101
#2314

Q1: Describe the concept of public and private key with your own words.

A1:

  • Private Keys are created as a large UNIQUE random number - this being a user’s ‘secret’ key.
  • Public keys are derived from Private Keys - thus creating what is know as a “key pair”.
  • Public keys can be used to “encrypt” messages, the paired Private key then being used to “decrypt” the message.
  • Private keys can also be used to create Digital Signatures which then can be used by recipients to verify the identity of sender.

Q2: What 2 use-cases can public key cryptography be used for?

A2:

  • Use-Case #1: Encryption - e.g. for send and receiving encrypted messages.
  • Use-Case #2: For creating Digital Signatures which are used to verify a sender’s identity - e.g. the sending and receiving cytpocurrency transactions.
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#2315

  1. Public keys are derived from private keys and are the public addresses used to send and receive bitcoin. The private key is needed to sign and approve these transactions, and for it to be verified on the chain.

  2. The two use cases for public key cryptography are encryption and digital signatures to verify identity.

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#2316

[quote=“ivan, post:1, topic:8431”]

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

Your public key is the “known” key, or address/ID, and the private key (randomly generated number) is the same but for your eyes only. you use your public key as an encrypted messag (or thing of value) and your private key decyphers it.

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

Cyphering and decyphering messages and verifying signatures (verification of an action)

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#2317

1 -> the private key is the basis of the private/public key strucutre, from the private key is generated the public key that can used for sending/receiving and to identify the sender, the private key can used to de-crypt the sended message or/and to access the public key account ot wallet
2 -> identity tracker and account / wallet number

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#2318

  1. The public key is for everyone to see and send for example some money to. And the private key is used to accept those transaction. And with the private key you can also do other stuff but this is the basics.

  2. First to encrypt data let’s say you want to send a private message to someone or a transaction you can enrypt this data. Second is the digital signature this is used to verify the message or transaction.

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#2319

  1. Private key is a generated number that acts as the key to access your bitcoin. It is a unique number, and is generated only one time and can’t be changed. Public key is a unique number that is generated from the private key to give out to others as a symbol to transact with you without giving out your private key. No one can compute your private key from your public key.

  2. The 2 use cases for public key cryptography are sending a message that you don’t want anyone else to be able to see. Verifying that the message hasn’t been tampered with and who sent the message.

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#2320
  1. A private key is a randomly generated large number which is then mathematically processed in to a public key. The private key cannot be derived from the public key, but anything encrypted by the public key can only be decrypted by the private key, and NOT the public key.
  2. For encrypting data and digital signatures.
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#2321 
1. Describe the concept of public and private key with your own words.

A randomly generated privat key is used to generate a puclic key that can be shown to the world. 
If aninformation like a message is encrypten with the public key only the individual that holds the orivae key will be able to decrypt this message again. 

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

For encryption of information and for digital signatures
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#2322

Public and Private Keys :key: :closed_lock_with_key:

  1. Describe the concept of public and private key with your own words.
    Private keys (i.e. large random numbers) are created first and have to be kept safe and secret while the public keys are derived from the private ones and can be made public anywhere without worries. A private key can decrypt any message that has been encrypted with its corresponding (i.e. derived) public key. A signature that has been generated with a private key can be verified using the public key that belongs to it.

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

  • Encryption to make data and messages private to those who hold the keys to decrypt it
  • Digital Signatures to proof the identity of asset owners and message (e.g. TXs) originators
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#2323
  1. Describe the concept of public and private key with your own words.

A public key is available for anyone to view and use. A private key is kept secret by the original owner. A public key is derived from a private key but the private key can not be obtained from the public key, When information is encrypted by the public key it can be unencrypted using the private key.

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

The two major use cases for public key cryptography are for encryption of messages and signing messages with digital signatures.

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#2324

  1. The concept of private and public key has to do with communication, sending secured information over an unsecured medium. My computer generates a random number which is my private key and generates a public key from my private key, uses my private key to sign send a message via the receivers public key. The receiver who also has a private and public key uses his private key to decode the message I sent from my public key.

  2. Encryption and Digital Signatures.

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#2325

  1. A “private key” is an astronomically high number, consisting of many constituent characters, which is randomly generated by a user’s computer. This number is known only to the owner and is never publicly shared. The private key is processed using a complex formula and the resulting output is another extremely high number, which can have only been derived from that specific “private key”. This resulting output is the “public key”. While the private to public key formulation is deterministic, due to the nature of the formula used, this determinism is strictly one-way. That is to say that given a private key, it is possible to repeatedly generate the same public key. However, the reverse is not true and armed with a public key, there is no way to determine the corresponding private key.

  2. Achieving privacy in a public network and digital signatures.

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#2326
  • Describe the concept of public and private key with your own words.

Public and private keys are mathematically linked to each other generated through algorithms. You can derive the public key from the private key but not the other way around. This makes it possible to send encrypted data to a specified public key holder and only the holder of the linked private key can unlock the encryption.

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

Wallet addresses can be generated from Public keys and private keys can be used to prove ownership of transactions through digital signatures. It can also be used to send encrypted messages.

[/quote]

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#2327

  1. The public key is for everyone to see this is created number true a special formula that is based on the private key. A private key is a number created by your computer. This one you keep safe for no one to see. Because with your private key you can go into your public key. There is no way to do it the other way around.

  2. You can use it for encrypted messages. You can use it for a digital signature so that you can verify that a transaction is from the right person. (identification)

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#2328

1- Private and public keys are digital imprints: the private key is undisclosed by the owner while the public key can be shared with the public for transactions
2- 2 use-cases of public key: encryption and digital signature

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#2329

  • Describe the concept of public and private key with your own words.
    Public Key is the key that you can give to anyone to send money to your wallet. The private key is the hidden key you keep that allows you to withdraw money from that wallet.

  • What 2 use-cases can public key cryptography be used for?
    Can be used for digital signature. Can also need multiple signatures to open private key.

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#2330

  1. A private key is generated by your computer, and, as the name stands for, it is private and only you should know it. Based on the private key, a public key is generated. This is available to the public, and it is used to send you messages or to verify your identity. In the case of Bitcoin, the public key can generate the bitcoin address. This is a one way process.

  2. Public keys can be used for encryption or digital signature.

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#2331

But both are still signatures :wink: public key cryptography can also be used for encryption.

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#2332
  1. The public key is used to encrypt (create a secret message) while the private key is used to decrypt (unlock the code to read the message) sensitive information sent out into an environment with spectators. Think WWII with the Enigma machine and Nazi Germany.
  2. The two Use cases are Encryption (coding a message) and Digital Signature (verifying that you sent the message).
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#2333

  1. Describe the concept of public and private key with your own words.
    first profile create private key which generates public key. You can’t find out private key from public key. When somebody sends you message, it use public key and nobody can read that message unless they have private key

  2. What 2 use-cases can public key cryptography be used for?
    There are digital signatures and encryption.Encryption described above, but digital signature is used to sign messages or it is used in bitcoin as well to sign transactions

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