- Public keys are used to process transactions on the blockchain and bitcoin network. A user can send you bitcoin via your public key and in order to complete the transaction, the user must sign with his private key. Public keys are shared everywhere in order for someone to transact with you. Private keys are never shared because this code/number would provide access to your bitcoin to anyone.
- Encryption and Digital Signatures(private key).
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The combination of public and private keys is used to certify that a particular authority has trustlessly signed a transaction of some sort. (payment, message etcâŚ) A random number is generated and a private key is derived from that number, using the private key you derive a foward facing puiblic key. Other authorities can then veryfy transactions from your private key by refrencing your public key.
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encrypting conversations and sending and verifying transactiopns.
- Describe the concept of public and private key with your own words.
Every public key matches with a private key in order to encrypt or decrypt messages or transactions, A public key encrypt the message or transaction to be sent in a insecure or unkown channel, and the private key decrypt it so you can ready or receive the transaction.
- What 2 use-cases can public key cryptography be used for?
Digital signature or encrypt messages.
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- Describe the concept of public and private key with your own words.
The public key is used to enrypt sensitive information and the private key decrypts the information that was encrypted with the use of the public key.
- What 2 use-cases can public key cryptography be used for?
- Messages Encryption
- Signature
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The private key is the random number. It isnât derived from it. But lately we also use a mnemonic phrase (12 or 24 words) that is used to create a master key wich can create many other private keys.
Check out Andreas talking about it:
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Thanks Fabrice this helps me Understand a lot!
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Private key is a random number generated by your computer that is unique to you and kept private. The public key is generated using the private key and is shared with all.
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Encryption and Digital Signatures
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- A private key is a large random number you can use to sign a message. The private key should be hidden and only known by you. It is like your internet voice. If someone gets access to it, they can basically speak and hear for you. From that private key, you can compute a public key. Your public key is public and everyone can see it, but no one can use it to encrypt messages. You can only compute a public key from a private key and not vice-versa.
- There are two different uses for this concept: Encryption and Digital Signatures.
In Encryption, you use the recipientsâ public key to encrypt a message you want to send him. This makes the message unreadable until someone who knows the private key, that computed the public key, decrypts the message.
In Digital Signatures, the message doesnât have to be encrypted, but this concept is used to verify the sender. The sender signs the message with their private key. The recipient can then mathematically check if the signature and the computed public key owned by the sender were computed by the same private key (in the process, he never finds out the private key).
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Describe the concept of public and private key with your own words.
Public key is public and its used for example to encrypt the message.
Private key is a secret key that used to for example to decrypt the massage that was encrypted using public key -
What 2 use-cases can public key cryptography be used for?
Encryption - sending encrypted messages
Digital signature - sending and receiving transactions
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- The private key is just a randomly created number,and used to make the public key out of it.Also better to keep it somewhere safe.(âas it is your pin number to your accountâ)
2.Encryption,and create digital signature.
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1.- A private key allows you to access your cryptocurrencies or messages and a public one is used to receive them.
2.- Encryption and digital signatures.
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Thank you very much 
- Public Key Cryptography - Public and Private Key concept = a safeguard for communicating info digitally over unsecured network.
A Private Key is a random number generated by your computer, a corresponding Public Key is then in turn generated from this Private Key.
A Public Key is used to encrypt information which can only be decrypted by a corresponding Private Key.
A Public Key is to be shared, a Private Key is for you to keep to yourself.
Someone can send you info digitally that is encrypted with your Public Key - you can then decrypt the info with your Private Key.
You can also use your Private Key to sign off digitally - people on the network can verify it was you by seeing your corresponding Public Key.
- Encryption & Digital Signatures
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- Keys are created by our computers. A private key is generated and then a public key is generated from the private key. The keys are Encrypted. One can go from private to public, however, not from public to private keys.
- The 2 use cases for keys are encryption and the second for Signatures.
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- A private key is generated by a ramdon number. It is a secret number. It is used de create a public key that can be seen by everyone.
2 two use cases : encryption and digital signatures.
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- And 2. The Public key is an open available keyphrase that can be used for identification and encryption of digital signatures or transactions. Knowing the privat key is necessary to identify the origin of a message or a transaction but it canât be used to find out the Public key. It is the base for transactions of cryptocurrency.
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A private key is a large series of random numbers generated by a computer to which then creates a public key that can be used to send information to another person/computer. essentially creating an encryption. Your private key is your identity.
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public key can be used to for encryption and digital signatures to verity authenticity.
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public and private keys are needed to transfer data safely from person A to B within a public/insecure space (e.g. the internet). A persons public key is like his own online web based address that you can send value/messages/data to. The public key is created out of your private key with a mathematical formula. Your private key is a random number and functions like a password or key that gives you access to your value/messages/data and also decrypts the data.
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encryption and digital signatures
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- In your Bitcoin wallet you create a private key through a random number generator. This number is so âcolossalâ that no one else can randomize that number.
From this private key you derive a public key which can be used to receive signed bitcoin transactions from other private key holders. They can sign a transaction with their private key and in that way they transmitting to all nodes in the network that your wallet is now the holder of the Bitcoins that was earlier in the other persons wallet.
In the same way, you can use your private key to sign a transaction of Bitcoins from your wallet. And the network can confirm that you and only you signed that message by verifying that the signature is corresponding with your public key.
- It can be used to send encrypted messages and also to make digital signatures just like described above.
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The concept of a public and private key is a way to encrypt information on an open source. These 2 keys are used to keep information secret and between 2 people while there are other people around. Public Keys are derived from the private key so that we can identify with integrity that the message came from the right person.
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public-private key cryptography can be used for encryption and digital signatures.
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