Homework on Public and Private Keys - Questions

Blockchain and Bitcoin 101
#2499
  1. A public key is like you bank account number, and a private key is like your PIN code.
  2. Sending encrypted messages and digital signatures.
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#2500

Both of these are utilizing digital signatures. Public key cryptography can also be used for encryption :slight_smile:

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#2501
  1. Describe the concept of public and private key with your own words.
    A: public- generated from the private key; anyone can see; how you receive funds.
    private- randomly generated number/letters; only you can see, as long as you don’t share with others; digital signature.
  2. What 2 use-cases can public key cryptography be used for?
    A: to receive funds from others and to verify the signature.
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#2502

Homework on Public and Private Keys - Questions

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

A private key is a unique set of numbers used in cryptography. This private key generates a public key that can be used to encrypt a data set. The private key will then be the only thing that can decrypt that encrypted data set.

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

  2. Encryption

  3. Digital Signatures

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#2503
  1. Describe the concept of public and private key with your own words.
    Ans;: Public key is something you can give out to anyone. It is safe to share and it is derived from your private key. Private key is your digital signature and should never be shared with anyone. If someone else has your private key, they can steal your coins. If you lose your private key, you have lost your coins.
  2. What 2 use-cases can public key cryptography be used for?
    The 2 use-cases that public key cryptography can be used for are encryption and digital signatures
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#2504

you are AWESOME!! You do great with your answers.

#2505

Homework on Public and Private Keys - Questions

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

Private and Public keys are used for Encryption and for Digital Signatures. You create a very large number to use as your private key and then create a public key that is mathematically related to your private key that you can share with the world. There is no way to derive a private key from a public key.

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

Encryption and Digital Signatures. Bitcoin uses the latter.

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#2506
  1. Describe the concept of public and private key with your own words.

On the internet it is sometimes necessary to encrypt information, say for example I want to be sure that nobody is reading my private details or that the website I am connecting to is legitimate. Today both of these cases use public-private key cryptography (PPK) to solve this problem.

Public-Private Key cryptography begins with generating a private key, which is a long random number that is almost impossible to guess and uniquely identifiable. The private key can be used with a special function to generate a public key and the relationship is such that any data encoded with the public key can be decoded using the private key. On the blockchain, PPK cryptography is used to define and provide security for accounts on the network. This works by generating a public key which is used as the account address for the and requiring every transaction from that public key address to be signed by the private key of the pair.

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

a) Create a secure socket for messages in flight (SSL encryption) and verify a remote host is genuine (SSL one-way-authentication)
b) Verify that a message sender holds the private key (Transaction signing)

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#2507

Both of these utilize digital signatures. You can also use it for encryption. :slight_smile:

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#2508
  1. The private key is the key that you keep secret and you use to sign uniquely the transaction or a message. The public key is a derivate on the private key which you share with others and you use to encrypt a transaction or a message.
  2. The two use-cases the public key is used for are the encryptions and the digital signature. The encryptions are used to send a private message to a receiver while the digital signature is used to send a transaction uniquely to someone.
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#2509

1 A private key is essential for you to access data/process transactions on a specific blockchain. Private keys generate public keys which can be used by other blockchain users to send information/transactions to the private key holder. Private keys can also generate signatures which can confirm that information sent is immutably sent by the user in question. Private keys must be kept secret or any information or transactions/funds can be comprimised.

2 . Encryption and digital signatures.

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#2510

  1. Private keys are random generated numbers - they are to be kept secret. Public keys are derived off of the private key, and can be used by the sender to encrypt information to the receiver. The receiver then uses the private key to decrypt the information.

  2. Encryption - encrypting information so that only the holder of the private key can decrypt them.
    Digital signing - the send signs a document with a derivative of his private key, and the receiver can use the signature along with the sender’s public key to verify that the information source is valid.

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#2511

You always need a digital signature to send a message (or a transaction)

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#2512
  1. A private key is a string of figures which belongs to someone for at least 2 possible purpose. It has to remain private. The public key is generated out of the private key and it can be made public without jeopardizing the private key.
    2 the 2 purpose can be 1) encryption and 2) adresses. For encryption: anyone can send me a message encrypted through my public key. But only me can decipher it using my private key. For Adress: I can generate from my public key an adress, so anyone can use my adress to send me anyting. But to access it one need the private key which was used to create the public key, which was used to create the address.
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#2513

1)Public and private key are part of encryption that encode information.

2)Encryption and verification.

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#2514

  1. Public-key cryptography programs can use a large random numbers to generate a pair of keys. The two keys are known as the public key and the private key. The intention of the public key is to be published to the world because using a public key, anyone is able to send secret messages to the entity that knows the private key.

  2. Public-key cryptography can be used for both encryption and digital signatures (where the message is instead created using the private key and people can verify using public key).

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#2515

A random private key creates a public key which communicates with the outside world.
Digital signatures and encryption

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#2516
  1. Describe the concept of public and private key with your own words.

A randomly generated private key will generate through a formula a public key. This is used to encrypt for example messages such as transactions. The public key, which is generated out of the private key, cannot relay back to the private key, which makes the usage of it so secure, unless the private key is forgotten or was stolen.

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

Encryption and Digital Signatures

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#2517

1)Private key is a long random number wich must remain confidential to its owner. Private Key decrypts whatever data is encrypted with a Public Key.
Public key is generated from Private througth a special computer formula and
It is available to everyone on the iternet.
2) We use public key cryptography in order to a) encrypt data and achieve Confidentiality in an open network and b) to create a digital signature

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#2518
  1. Private key is a random and unique number generated by a computer, this number must be kept extremely safe and secure. Public key is generated by the private key through a formula and can be shared to anyone ( this is basically the recipient that will allow you to receive the message), there is no way to find a private key using the public key (remember one way function).
  2. Public key cryptography is used for two cases: encryption and digital signature;
    Encryption: in order to send a private message to someone on a public comunication channel this must be encrypted.
    Digital signature: it’s used to verify the message received
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