Homework on Public and Private Keys - Questions

Blockchain and Bitcoin 101
#2782

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

Private key is a randomly generated number, which must be kept in secret for security. The public key is derived from the private key, but not in reverse.
The private key can decrypt data or sign a transaction, and the public key can veryfiy a transaction or encrypt data.

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

Encryption and digital signature.

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#2783
  1. Your private key is your own secret key that allows you to sign and verify transactions. Your public key is the key that is generated by your private key, which allows others to send messages and transactions to your private key.
  2. Public key cryptography can be used for enrypting messages and transactions and creating digital signatures.
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#2784

  1. Describe the concept of public and private key with your own words.
    A Public key can be seen by the public. Its generated by the private key.
    The privat key is the secret of the owner. Both can be used for example to sign a transaction or perhaps a message. Putting both together gives you the information if the signing is for the “sender” you expected.

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

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#2785

1.Public and private keys are used in cryptography in order to achieve security and ownership (identification).
2. Encryption and Digital Signatures

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#2786

1.You have to create a private key to have a public one. It’s a one way system.
2. a,send private messages
b,verify digital signatures

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#2787

  1. The difference between public key and private key is massive. A user who has the private key of a wallet has full access to the send and receive functions of a wallet. A private key is available for anyone to view transactions on the blockchain.

  2. Public key cryptography has use cases including encryption and digital signatures. They allow for a one-way, positive input transactions and act as a layer of protection on the private key.

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#2788

  1. Private keys are your access and proof of ownership to a wallet the public key derived from the private key and is hashed to create an address.

  2. digital signatures and message encryption.

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#2789

  1. Describe the concept of public and private key with your own words.
    Ans: 1.
    When one wants to send sensitive data to another person via an open an unsecured network with out the public having access to that data one has to encrypt the information so this is where public and private keys are used in pairs fo achieve encryption, delivery & access to either party’s data when needed.
    When party A wants to send private data to party B, party A uses party’s B’s public key to encrypt the data. Party B then uses his/her own private key to unlock the data sent by party A.
    So by people having a pair of public and private keys of their own they can securely send/receive sensitive data to each other without the public having access to this data.
    With bitcoin any private & public key pair is automatically a legit bitcoin address.

  2. What 2 use-cases can public key cryptography be used for?
    Ans:2.
    a. Encryption
    b. Digital signatures :pray: :heart: :pray:

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#2790

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

  • A Public key is generated through a special formula once your private key has been generated. The difference is that your public key is accessible to the public and open for view on social media.

  • You cannot obtain the Private key having access to the Public key.

  • A Private key is generated by your computer (using a random large number) and is held private for the owners view only. It is used to decrypt messages so you can access them.

  • A Private key can be used to digitally sign messages - creating a digital fingerprint that can be confirmed along with your public key.

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

  1. Encryption
  2. Digital signatures
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#2791

Homework on Public and Private Keys - Answers

  1. Describe the concept of public and private key with your own words.
    • Core of cryptocurrency/blockchain technologies
    • 2 major use cases: Encryption and Digital Signatures
    • Each wallet based on public/private key pair (Bitcoin)
    • Allows the sending and receiving of ‘secret messages’, through computer randomly generated large number (private key) which in turn generates a public key through a special formula. Private key (should) never (be) revealed to anyone, public key is shared out for world to see
    • With public key, a message can be encoded which only the specific private key that generated that public key can decode
    • To verify identity as a digital signature. Same procedure: Private key generated, which then generates a unique public key. Signature and public key mathematically compared to verify against private key.
    • Bitcoin use case, verifies that unique signature did spend/send that bitcoin. Impossible to take Bitcoin address, figure out public key then figure out private key.

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

blockchain.Ronin

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#2792
  1. You generate a private key on your computer and then derive a public key from the private key. When encrypting a message, you encrypt it using the public key of the recipient which they are then able to decrypt using their private key. In digital signatures, you sign your message to another person with your private key. The recipient then verifies that you were the one who sent it using your public key.
  2. The 2 use-cases for public key cryptography are encryption and digital signatures.
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#2793
  • Describe the concept of public and private key with your own words.
  • What 2 use-cases can public key cryptography be used for?

  1. A public key can be shared anywhere and it allows the transmission of encrypted data to the private key. A private key can also be used as a digital signature.

  2. The transmission of data and currency.

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#2794

  1. In the Bitcoin world, the private key is randomly generated by your wallet and is something which we should guard for dear life to avoid our Bitcoin being stolen. The public key is derived from the private key and is used to generate your Bitcoin address such that other people can send you Bitcoin. It’s the private key that ensures the Bitcoin is safely received by us

  2. They are for 1) encryption and 2) for generating digital signatures so as to ensure the integrity of the transaction.

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#2795
  1. Describe the concept of public and private key with your own words.

The private key is a code consisting of a long chain of numbers randomly generated for the person in question and it’s their secret code, hence the name ‘private’.

The public key is a code, also consisting of a long chain of numbers, generated based on the private key. The private key is required to generate a public key, but the private key cannot be decoded based on the public key (it’s a one-way encryption). The public key can be therefore safely shared with other people and even in public places like social media, in order to send messages or money from one person to another in a safe way.

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

Encryption (to preserve secrecy of the information/message)
Digital signature (for identification to ensure the message delivered was from the right person)

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#2796

  1. Private key is created from a random number. From the private key we can then create a public key. This is so called one way function. From the public key we cant go back to a private key. IE Bitcoin wallets will create a private key, which will create a dependent public key from which the receiving BTC address will be created. While you can share with everyone the public key(used for encryption) or receiving address (used for receiving funds), you should never share your private key, which is used to sign the transactions or to decrypt the content.

  2. Encryption We can use a public key from someone to encrypt the data, so we prevent everyone to be able to read those data. The only one who will be able to decrypt the data will be the owner of the private key (of the public key that has been used to encrypt the data).
    Digital signatures In this case we use a private key to sign the transaction. Signature together with a public key is verifiable to anyone and it answers the question who is sending (doing the transaction).

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#2797
  1. Describe the concept of public and private key with your own words.
    Public key is the heart of blockchain and is generated boy the private key. Public key encrypt sent informaton and the private key decrypt it.
  2. What 2 use-cases can public key cryptography be used for?
    Encryption and digital signitures
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#2798

Homework on Public and Private Keys - Questions

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

A. Initially a person selects a digital wallet that they would like to use for digital coin, private messaging, and transaction purposes,; and (2) keys are necessary for this.

  1. A Private Key, and 2) a public key that are a pair of very large numbers.
    The private key is generated first from a random number. Next this random # (private key) is used to generate the public key (large number)
    The private key is openly shared everywhere on the internet (crypto exchanges, blogs, twitter, shopping online, you name it.
    Always you can go from Private key to public key but not vice-versa. No way anyone can get to your private key unless you give it to someone, loss it and someone finds it, or its stolen. If private key falls into someone else’s hands they now have access to your assets. If Lost, you are S.O.L. for retaining, or utilizing your coin assets.

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

A. Freely distributed encryptions and digital signatures.

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#2799

Homework on Public and Private Keys - Questions

  1. Describe the concept of public and private key with your own words.
    private key is a large random number which is kept private and can be used as signature
    public key is generated from the private key and can be seen by the public and is used for transactions to your private key
  2. What 2 use-cases can public key cryptography be used for?
    encryption and digital signatures
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#2800

Each private key is a unique encryption language that only the key holder can decipher.
A public key can be created using a private key that it will be linked to. This can be openly shared as it can only encrypt data and not decrypt it, thus keeping the private key, well… private.

For private data transfer and identity verification.

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#2801

  1. Describe the concept of public and private key with your own words.
    wallet setup: public key is generated from private key to get a BTC address. not possible in the other direction (if only BTC address is known, it is not possible to get the private key)
    private key used to sign transactions, keep it safe and secret, it is a “unique combination of random numbers”
    it is possible to encrypt a message using the receiver’s public key, but the encrypted message can only be decrypted with the receiver’s private key

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

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