Homework on Public and Private Keys - Questions

Blockchain and Bitcoin 101
#2477

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

    A private key is a randomly generated number that only the owner knows and from this the public key can be derived. However it is not possible to derive the private key from the public key. The public key can be shared with others to receive encrypted messages or also currencies to a corresponding address, this message or received funds can only be decrypted and accessed by knowing and using the private key.

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

    For encryption and digital signatures.

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#2478

  1. Describe the concept of public and private key with your own words.
    Private key is what I use to generate my public key and it’s my digital signature. My public key is what I share with people/the network. My public key also generates my BTC address where I transact with.

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

  3. Digital signatures

  4. Encryption

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#2479

  1. our pc create the private key, after we generate the public key and with that we can make public to everyone so they can send us secret messages. there is no way to read a message without the private key or to find the private key from the public key.

  2. encryption and digital signature

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#2480

whit the hash function

#2481

whit the hash function in the blockchain

#2482
  • Describe the concept of public and private key with your own words.

these keys are used to encrypt and decrypt messages. A public key (known by anyone) is derived from a private key (only known by the person who holds it).

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

encryption and digital signature.

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#2484

  1. A private key is randomly generated number that can be used through mathematics to derive a public key. This is a one way operation you cannot derive the private from the public.

  2. Encryption and digital signatures.

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#2485

Private key is your unique digital identity only you know and have access to. Your public key is connected to this and available for others to see and send transactions to.
Public key are used to sign transactions and decrypt incoming transactions.

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#2486

1.Private key is an not displayed publicly as it is the key to your personal bank, data. It is guarded and hidden from a public eye. Public key is the address shared with the public for various digital transactions. Public key can’t be reverse engineered so to gain access to your private key.

2.Public key can be used for encrypting any data and digital signatures.

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#2487
  1. A private key is a large random generated number that is used to digitally sign transactions. A public key can be viewed by anyone and is created from the private key random number. The public key can be shared with anyone so that they can send a transaction to you but only a private key has the ability to digitally sign a transaction as being authentic. The private key can decrypt the information from the public key, however a public key can’t decrypt the information from a private key ensuring security.
  2. Encryption and Digital Signatures
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#2488

Private key is a large randomly generated number that you need to keep secret and secure, it can be used to generate public keys and signatures. Public key cryptography use-cases include encryption and source verification.

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#2489

  1. Public key is exposed to the world, is the way to “find” and “trade” with someone (its part created from the private key), the private key will decrypt it and store the “traded” value (no one can get to private key from the public key and only the public key which the trade was sent to will be able to use its private key to decrypt it).

  2. Encrypting messages in order to send secret messages, and digital signatures where we can identify us and secure it.

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#2490

Public key cryptography doesn’t use hash functions. It utilizes the elliptic curve to derive public keys which can then be use to encrypt data or verify digital signatures. :slight_smile:

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#2491

(1)
Public keys:

  • Encrypt messages on an insecure network.
  • Digital signatures to identify integrity.

Each wallet is based on a public and private key pair.

Private Key = random number, keeps it secret.
Take the private key and generate a public key (which is based on the private key).

The public key is for the world to see. There is no way to take the public key and derive the private key.

(2)
Encrypt private messages.
Send money on the blockchain to a public key (wallet)

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#2492

  1. Public Keys allow you to share information with others, like an address and return address. Private Keys verify a message is sent from a user like a signature. Applying the senders public key to information with the senders signature will cross check it is original.

  2. Cryptocurrency transactions. Information exchanges i.e. encrypted emails.

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#2493

1. Describe the concept of public and private key with your own words.
Private key = any random number created by yourself or your computer
Public key = an encryption derived from your private key via a formula. You cannot get the private key from the public key.

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

  1. Encryption
  2. Digital Signatures
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#2494
  1. Describe the concept of public and private key with your own words.

A public key is created from a private key and allows information to be encrypted. To decrypt the information you need to know and use the private key. This is why it is important to keep a private key secret and secure because anyone with the private key can decrypt information encrypted with the corresponding public key.

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

As well as encrypting information a private key is also used to sign transactions, signing a transaction is a way of validating that transaction.

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#2495
  1. A public key is the address attached to your crypto account. You can use the public key to receive crypto. It could be compared to your bank account number, in a way that everyone who possess your public key and use it to send you money. The private key is your own address which you should be kept private. It could be used to withdraw your crypto. It could be compared to your secret PIN number that you use to access your bank account. If someone get your secret PIN or your private key, they can take control of your account withdraw from it etc…
  2. It could be used to send crypto and receive crypto
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#2496

1: Your computer generates a private key which only is for you to see and keep. From that private key, a public key is created which everybody can use and see. A encrypted and/or digital signed transaction by the public key can only be decrypted by the “matching” private key. A digital signature uses the same principal.

2: as mentioned above, it can be used to encrypt a transaction or it can be used as a digital signature which verifies the origin of the sender.

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#2498
  1. Describe the concept of public and private key with your own words.

Public Key is key that you can use to send messages or transactions. Private key is a digital fingerprint that shows who sent the message. Private Key is supposed to held close to you and not shared with anyone else or you the risk of getting your key stolen/hacked.

  1. What 2 use-cases can public key cryptography be used for?
    Encryption-Sending/Receiving messages
    Digital Signature-Sending/Receiving transactions
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