Homework on Public and Private Keys - Questions

Blockchain and Bitcoin 101
#2762

Describe the concept of public and private key with your own words.
A private key is a randomly generated number that belongs only to the Bitcoin holder. The “universe will implode” before two private keys are the same. If somebody were to have access to another person’s private key, they would have access to their crypto funds. If the private key is lost, funds are lost.

The private key is paired with a public key which is derived from the private key via a mathematical formula. Public keys cannot be reverse engineered to determine the private key. The combination of a public and private key produces the bitcoin address. Public keys can be shared with the world.

What 2 use-cases can public key cryptography be used for?
The private-public key pair can be used for encryption and/or for digital signatures on the blockchain network.

In encryption, messages potentially seen by others can be encrypted using the public key of the message recipient, and then only the message recipient can read that message using his/her private key.

In cryptocurrency transactions, the private key acts as a digital signature and proves who the message was sent by. The private key of the transaction originator is sent along with the transaction and that key is compared against the known public key, with the mathematical formula proving that the two are a pair. This prevents people spending/transferring/hacking money that does not belong to them.

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#2763

  1. A public and private key is basically a form of identifying a specific wallet address. A private key acts as the generated identity of an address and public key is the address created from a public key that is accessible to everyone.

  2. 2 use-cases that a public key cryptography can be used for is encryption and for digital signatures.

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#2764
  1. The private key is a random large number, and the public key is generated from it. Others can use your public key to encript messages that only you will be able to decrypt with the private key. Also, the private key is used as your signature in BTC transactions and it’s necessary to access your wallet and operate with it.
  2. a) To encript a message ment to be sent in a public space but that youy only want the receiver to read.
    b) The digital signature that verifies who sent a particular message. When receiving a transaction signed with the private key, and since you have access to the public from the start, you check that the private key truly generated the public so the message is genuine.
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#2765
  1. A private key is a random number generated by your computer and cannot be seen by others. Every private key can generate a public key that can be seen by others. The private key is used to descrypt or sign messages.
  2. Encryptions and Digital Signatures.
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#2766

  1. A private key is unique phrase created by the user in order to sign transactions and to produce a public key using hash function. A private key cannot be derived from the public key.

  2. Digital signature & verification.

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#2767

Homework on Public and Private Keys - Answers

  1. Describe the concept of public and private key with your own words.
    Answer: A private key is just a very large random number. From this a public key can be generated. This is a one way process, you cannot figure out a private key from the public key.

  2. What 2 use-cases can public key cryptography be used for?
    Answer: Encryption and Digital Signatures

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#2768

  1. A Private Key is generate when you open a wallet. Your public key is then generated and from there your bitcoin address. People can send money to your bitcoin address but you have to “sign” with your private key. Therefore if your private key is lost or stolen you are out of luck. Your public key is used by the sender of the money to verify your “signature” is actually you.

  2. The 2 use-cases for public key cryptography are encryption and digital signatures.

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#2769

  • Describe the concept of public and private key with your own words.
    Together they are used to encrypt and decrypt massages

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

  1. encryption and digital signature. Encryption sends someone a secret message, and digital signature can be used as integrity that it was you that sent that secret.
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#2770

  1. Private key is a alpha numerical phrase that is generated in a mathematical way which a public key is generated from… You cant go from public to private key.

  2. To read an encrypted message and to use a digital signature to proof you did a transaction.

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#2771

Homework on Public and Private Keys - Questions

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

A private key is like your very own identity in the digital world through the blockchain network and it can be generated by the computer, it is a very large number, you use this Private Key to generate an Open Access one for the public it comes from that Private key a public Key can be created it is like a digital hash that is for open to the public access for peer to peer communication flike or transactions or to send you and you to recite data, crypto, information, lab results and or withdrawing.

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

The digital uniqueness la your signature of an identity for anyone in the crypto world, that makes a digital signature, to preserve integrity of your dices or Hash Encrypted information.

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#2772

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

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

  3. The two allow you to send authentic information that utilizes the use of both keys to ensure the information is correct without showing the private key.

  4. Blockchain - crypto and digital signatures.

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#2773
  1. A private key is usually a large number that is only known to me. From this number, I can generate a Public key. This public key can be known by the public, but the public cannot deduct my private key from it.
  2. It can be used to encrypt data, such as a message. If the sender encrypts the message with the recipients public key, the recipient can unlock the message with his private key. Also, it can be used for digital signatures - to verify that somebody is actually the originator of a message/transaction or whatever. This is done by digitally signing the data with one’s private key. Running the signature by the public key then reveals that the message can only have stemmed from whoever has the private key, which is the original sender.
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#2774
  • Describe the concept of public and private key with your own words. A Private key is a sequence of random numbers that is unique to 1 person which is then put thru the HASH algorithm to generate a UNIQUE PUBLIC KEY that represents my personal key in the public domain. Since the process is Uni-directional there is no way for any 3rd party to discover my Private Key.
  • What 2 use-cases can public key cryptography be used for? Public key cryptography can be used for:
    a) Encryption of data to make it PRIVATE, and
    b) Digital signatures to verify origin /provenance.
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#2775

Public keys are derived using the Elliptic curve function, not SHA256. :slight_smile:

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#2776

Homework on Public and Private Keys - Questions

  1. Describe the concept of public and private key with your own words.
    The private key is a random number generated by your computer. From the private key you can create a public key. The public key can be shared with the public, the private key should only be known by yourself.

  2. What 2 use-cases can public key cryptography be used for?
    Encryption and digital signatures.

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#2777

  1. Describe the concept of public and private key with your own words.
    Answer: Private keys and public keys come as a pair. However with crypto the private key is kept secret and the public key can be shared. The private key is a generated random number and is used to mathematically generate the public key.

  2. What 2 use-cases can public key cryptography be used for?
    Answer: One use id encryption and another is digital signing.

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#2778
  1. So in my words Public key is made to be shared with the people that you have to trasanct with especially receiving funds. Private key on the other hand is your personnal access to your wallet and has to stay secret just for you the private key allow you to sign a transaction and in that case sending bitcoin elsewhere from your wallet.
  2. Receiving and sending funds
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#2779
  1. Describe the concept of public and private key with your own words.
    private key is a random number that you can use to generate a public key.

a public key is a number generated by the private key.

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

encrypting messages or signing messages.

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#2780
  1. A public key is extracted from a private key only the owner of that private key has access to. It is possible to to from the private key to the public key but otherwise you can never get from the public key to the private key. It is very important to keep your private key private otherwise your funds could get stolen from you.
    2.Public key cryptography is common used for encryption (mostly not used in crypto. When we look at the used case for crypto the public key cryptography will be used for digital signatures.
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#2781

Public key: a number generated through your private key. It can be shared with the public
Private key: a large random number generated by your computer. It is as the word says: private and personal. It can be used to de-crypt messages.

a.Encryption
b.Digital signature

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