Homework on Public and Private Keys - Questions

Blockchain and Bitcoin 101
#2882
  1. Describe the concept of public and private key with your own words.
  • Public key is derived from the private key, so if anyone wants to send an encrypted message over the open network then they can encrypt that message with the public key and only the owner of the private key can decrypt the message.
    for e.g. If person “X” wants to receive encrypted message from person “Y” then person “X” will give the public key to person “Y” to encrypt the message. Only Person “X” can decrypt the message since he is the owner of Private key which generated the public key used for encryption.
  1. What 2 use-cases can public key cryptography be used for?
  • Encryption and digital signature.
1 Like
#2883

  1. The private key is a large random number generated by your computer which is your secret key for decrypting messages and verifying transactions when you send bitcoin as well as for receiving bitcoin. It has the property of being virtually “collision proof” because the odds of reproducing it are infinitesimally small.
    A public key is derived from the private key by a one-way function such that it cannot be used to deduce the private key.

  2. Public key cryptography is used for
    i) Encryption - in which the receiver’s public key is used to encrypt a message which can then only be decrypted by the receiver’s private key
    ii) Digital signatures - in which the sender’s private key is used to sign the message/transaction to verify that in fact the message/bitcoin did originate from that sender.

1 Like
#2884

  1. A public key is a large number used to denote activity from an entity (address or user). A private key is a large number used to protect an address or user from a message, transaction, or stored information being seen.

  2. A public key can be used to encript a message if the public key is owned by the recipient of the message. The other use of a public key can be for a electronic signiture to be verified or a bitcoin address to be created.

1 Like
#2885
  1. Private keys are first generated and then from that private key a public key can be created and shared on things like blogs and profiles.
  2. a. Encryption
    b. Digital Signatures
1 Like
#2886

  1. The private key is a randomly generated string that allows you to send or spend your crypto. The public key is used to ensure that you are the owner of an address that can receive crypto and is mathematically derived from your private key.

  2. Encryption and Digital Signature.

1 Like
#2887

Public and Private Key Answers.

  1. User A can generate a random number using their computer that will be designated the “Private Key.” Using a formula we will derive a new Hash that will be designated the "Public Key. This “Public Key” is derived from User A’s “Private Key” (in other words, the Public Key has a direct relationship with User A’s Private Key). Now if User B would like to communicate any form of data to User A secretly, in an unsecured environment, User B may do so by taking said data + User A’s “Public Key” running it through the special formula, assured that only the Private key from which the “Public Key” used derived, will gain access to the data. User A can also be assured that the data received has not been altered, as well as verify its sender.

  2. Two use-cases Public Key Private Key Pair are encryption and Digital Signatures. Encryption for private transmission of data on unsecured communication networks. As well as Digital Signatures for verification of origins.

1 Like
#2888

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

~Private key: A personal key obtained to one owner, it is impossible for two computers to generate the same private key.
~Public key: A public usable key generated with the private key, encryption can only be decoded (or signed) when you have access to the specific private key.
The public key is used to encrypt information.

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

~Encrypt and sing a message or transaction

1 Like
#2889
  1. public keys are generated from private keys BUT private keys can’t be found out from the public key. traditionally, public key can be used to encrypt a message that can only be decrypted with the private key
  2. digital signature (with a public key you could verify if (for example) a “message” was sent by the owner of the private key) & encryption (as described in 1.)
1 Like
#2890

1- You create a unique private key that would be your signature and helps you to be able to create the public key, that everyone can see it, notwithstanding they can’t see or retrieve your private key, which you will keep secure.
2- The public key helps the receiver to encrypt the message.
The public key is useful in digital signatures to verify that the private key sent or received matches with the public key.

1 Like
#2891

Public and Private keys – Lesson 9 – Homework

Homework on Public and Private Keys – Questions

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

Public and private keys are used to encrypt and decrypt data communications sent over unsecured open networks.

A private key is a randomly computer generated number which in turn is hashed to produce a linear unidirectional public key. You can then give your public key to anyone who wants to send you an encrypted message. For encryption they just use your public key. With your private key you can then decrypt that message.

You can also sign a document with your private key which the recipient can then verify using your public key = digital signature.

In Bitcoin transactions bitcoin addresses are generated by creating a private key first which is then hashed to create a public key which in turn is hashed to create a bitcoin address. You can then use this last hashed number as your Bitcoin address. You can also use your private key to sign off on any Bitcoin transactions = digital signature.

  1. What 2 use-cases can public key cryptography be used for?
  • Encryption
  • Digital signatures
1 Like
#2892

  • A private and public key is a software mechanism that enables a user to have a name/address that everybody on the network can see. This public reference is generated from a private key, which should only be known to the user. There is no way for anyone else to decrypt the private key from the public key. And this enables the user to encrypt and sign messages.

  • The two use cases of a public key are message encryption and digital signing.

1 Like
#2893

  1. Describe the concept of public and private key with your own words.
    Answer: A private key is a very large random number that can be generated by a wallet(or other random number generators also) that will become your unique ‘ID’. A public key is mathematically generated from the private key to use to transact publicly without revealing your private key. The process of creating the public key is a one way function making it infeasible to be able to deduce the private key from the public key.

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

1 Like
#2894

The public key is derived using the elliptic curve function, but the public key is hashed to get the address. :slight_smile:

#2895

  1. An encryption process to send or store information securely. 2 encryption keys are used, one generated from the other. Unlocked only going one way. so information can be stored encrypted publicly, although only decrypted privately.

  2. Sending and Storing encrypted data, verifying encrypted data sources and ensuring legitimacy of encrypted data’s source and legitimacy.

1 Like
#2896

  1. Describe the concept of public and private key with your own words.
    The way I understand it is that a private key is a number used to create an encrypted message or digital signature through an unsecured network. A public key is then generated from the private key and it’s what the other party can see. Although the public key can be viewed by others, there is no way for someone to find the private key by having access to a public key. A private key generates a public key and is considered a one way function. In others words in order for someone to write an encrypted message they must have access to the private key.

  2. What 2 use-cases can public key cryptography be used for?
    Encrypted data and digital signatures. Bitcoin uses it for digital signatures, for verification and identification purposes.

1 Like
#2897

1.Public key is used to encrypt data, while the private key is used for decryption.
2.Encryption and Digital signature.

1 Like
#2898
  1. Describe the concept of public and private key with your own words.

The private key is like your secret identity, he is randomly generated an completely unique like an fingerprint.
With an private key you generate an public key, this key is visible to everybody. Public Keys are being used to interact with other people without revealing your true identity.

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

He can be used as an digital signature and also for encryption.

1 Like
#2899
  1. the public keys encrypts information and the private key decrypts it by using the public key
  2. The two cases for the public key are encryption and digital signatures.
1 Like
#2900

The private key is generated by a random number, then a mathematical formula generates a public key. A private key can not be derived from a public key and anything encrypted by the public key only can be decrypted by the private key.

In Encryption and in Digital Signatures but nowadays Digital signatures is mostly used.

1 Like
#2901
  1. The public key is used to share with the world so they can send a transaction. The private key is combined with the public key to determine where the transaction originated and where it is going. It also identifies a wallet to confirm that the funds are available in that wallet. The private key and public key make an encrypted code that produces a bitcoin address.
  2. The public key can be used for encryption and digital signatures.
1 Like