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a public key is what people interact with, send funds too. A private key is what the public key was derived from and it is the private key that allows the user to verify that they are the owner of the public key. So if you need verification that a certain public key and funds belongs to an individual, if they have the private key they will be able to verify it.
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one. to allow a person to receive funds without any intermediary steps.
two. a person can verify they own a certain public key providing they have the private key
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Private Key: The address which signs a message or transaction, this is secret and must be kept safe because it provides access to your personal info or funds.
Public Key: The random number that is recognized as the persons address who is receiving the message. It is also used to cross reference with the digital signature to ensure it was sent from the real private keys of the sender. -
Encryption & Digital signature verification
These are used in private messaging and receiving funds
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In your first answer you only explained digital signatures but forgot about encryption 
Both of these utilize digital signatures, the other use case for public/private keys is encryption 
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Youâre 100% right. Thanks!
- The concept of public and private keys is all about sending encrypted information. One party uses their computer to generate a random number, their private key. They use their private key to derive a public key. The public key and the private key are mathmatically related. Another party sends an encrpyted message to the original persons public key. This message is unreadable. The only way to read this message is to use the private key related to the public key to open the message.
- 2 use cases are for encrypted messages and digital signatures.
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The private key is used to create a public key that others can use to encrypt something and send it to you, and only you can open whatever has been sent as you have the private key.
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2 uses for public key cryptography are bitcoin and websites
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- Public key is generated from your private key. The private key is a random generated sequence of numbers and letters that is uniqe and only for you to see as it gives you control of your bitcoin stored there. The public key is linked to the private key since it is generated from it and therefore is not possible to get to your private key from the public key. The public key serves as a public interfact that anyone can see. The public key is used to create a wallet address also.
- 2 used cases of public key cryptography are digital signatures, and Crypto wallets.
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Wallets mostly just store your keys, and they are used to digitally sign a tx the other usecase would be encryption.
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1 Public Key can be cryptographically derived from the private key yet the private key can never be derived from the public key. The private key acts as a digital signature to prove that a message sent from a Wallet or public key was actually Sent by that person with the public key.
2 encryption and digital signatures.
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Q1: Describe the concept of public and private key with your own words.
Q2: What 2 use-cases can public key cryptography be used for?
A1: Privat Key is a (huge) randomly generated number which the owner shouldnât reveal to anybody and keep it secret.
From the privat key a public key can be derived, which the word âpublicâ already implies, should be shared with the public.
This privat - public pair can be used to encrypt and decrypt date or in case of bitcoind or crypto currencies to verify the genuineness of a user or a message.
A2: Encryption & digital signatures.
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Yes, but The private key is not the same as a digital signature. A digital signature is unique for a certain message (or transaction). Your private key + the message will be used to form a digital signature.
Others can verify that this message is actually signed by this private key by verifying the the message + signature on the corresponding public key. So you never have to reveil your private key.
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A very very large number is created by computer. It is a private key. That private key is only known to the person who created it. From that private key a public key is derived. The public key can be shared. The private key cannot be guessed backwards from knowledge of the public key.
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It can be used for:
I. Encryption and decryption.
For example: Encryption of a message through a public key and decryption of that message through the corresponding private key.
II. Digital signatures.
A message or transaction can be signed with a private key. It can be verified to be valid through knowledge of the corresponding public key.
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- Describe the concept of public and private key with your own words.
A Private key is a random value which is generated from a large distribution. It is used to encrypt and provide digital signatures. A Public key is derived from the private key and is used to decrypt the encrypted information. There is no way to derive a private key from a public key.
- What 2 use-cases can public key cryptography be used for?
a. Encryption
Recipient generates private key from a large distribution from which the public key is derived. There is no way to derive a private key from a public key. Sender encrypts the âmessageâ with the recipients public key. The only way to decrypt the message is through the recipients private key
b. Digital Signatures
Verifying who sent the particular message. Sender generates a private key, then derives a public key. Sender uses private key to send the message creating a signature. Recipient will be able to mathematically see that the signature comes from the private key that generated the senders public key. Recipient checks the signature and the public key of the sender and can compare it mathematically if it corresponds to the senders private key. i.e. When a wallet is created, a private key (random number) is generated from a large distribution. Then a public key is created from that private key. From that public key, a bitcoin address is generated. When sending bitcoin, the private key will create a signature, from which the recipients can verify that the sender is the one who sent it. On receiving bitcoin, the sender sends it to the bitcoin address, which is linked to the receivers private key. There is no way for anyone to derive the private key from either the public key or btc address. This is why keeping your private key secure is very important as if they have your private key, they have access to everything
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Q: Describe the concept of public and private key with your own words.
A: Private key allows access to a bitcoin wallet and to initiate and verify transactions by digitally signing them and thus should be kept private. A public key is a hash derived from a private key and is used to verify that a transaction was signed by the private key which is concealed.
Q. What 2 use-cases can public key cryptography be used for?
A: Encryption and digital signatures.
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1. Describe the concept of public and private key with your own words.
The public key is used to receive bitcoins and the private key is used to sign transactions to spend those bitcoins. There is a mathematical relationship between the public and the private key that allows the private key to be used to generate signatures on messages.
2. What 2 use-cases can public key cryptography be used for?
The public key can be used for encryption and digital signatures. In encryption the sender encrypts the message with the recipientâs public key. The receiver then gets the message and decrypts it with their private key. In digital signatures the sender signs the message with their private key. The recipient is then able to verify that the message was actually sent by the sender by taking the senderâs public key who can then verify the message.
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Yes, but it is not an ordinary Sha256 hash,
the public key is derived from the private key using elyptic curve cryptography (ECDSA) .
Basically your public key are the coordinates on a graph wich is a mathematical operation multiplied by you private key number of times so the point on the curve will bounce your private key amount of times until it gets to a certain point wich will be your public key
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- Public keys are shared, private keys are not. If somebody has access to your private keys then they have access to your coins.
- Encryption and Digital sigs.
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- Private key provides security and generates public key.
- Send encrypted messages and digital signatures.
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Describe the concept of public and private key with your own words.
Your computer generates a random private key and uses it to make a public key. Private keys are supposed to be hidden and public keys are open for everyone. -
What 2 use-cases can public key cryptography be used for?
Public and private keys are used for encryption and digital signatures.
Encription: the message is encrypted using the public key, and read using the private one.
Digital signature: You can make/sign a transaction using your private key and identify the sender through his public key.
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