Addresses are basically just hashes of public keys and btc ownership utilizes digital signatures to function. Public key cryptography can also be used for encryption. 
- Private key is generated first and the public key generated from that. Public key is used on the unsecure network and the private key is used together with the public for verification.
- Bitcoin and password protection.
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Homework on Public and Private Keys - Questions
1.Describe the concept of public and private key with your own words.
A public key is a figure in a high order magnitude that is generated on a digital device.
This private key is used for generating a public key through a function and the public key can be used to encrypt ie a message.
Only the recipient of the message can decipher the text that is encrypted through his public key but no one else can read the message.
This process can be used for digital signature as well, a digital signed message can be verified through the corresponding public key of of the creator.
A bitcoin wallet uses the same principle as it is generated from a public key generated from a private key.
2.What 2 use-cases can public key cryptography be used for?
A. Encryption to generate privacy
B. Digital signature for verifying identity and integrity
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Homework on Public and Private Keys - Questions
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Describe the concept of public and private key with your own words.
in cryptoworld we use the private key for sending cryptocurrency and we use a hash of the public key for receiving cryptocurrency. -
What 2 use-cases can public key cryptography be used for?
sending a message or sending funds
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The private key holds your assets, you never share this as someone will have access to your funds. From a private key you can generate a public key which is for sharing with others. Your public key is shared your private key should never be shared.
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Encryption to send messages and digital signatures for identification.
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A private key is a very large randomly generated by one’s computer number secret to that person which is used to operate on a blockchain network.
A public key is a number derived from a private key through a special mathematical formula. Public keys are available for anyone on the blockchain to see.
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Encryption: for a sender to encrypt messages using the message recipient’s public key and to be read by the recipient using their own private key.
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Digital signatures: for a sender to sign messages with their private key and for the recipient of a message to verify that the message received comes from the supposed private key sender using the sender’s public key and their signature for the message sent.
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Passwords are usually encrypted using a hash function like SHA256, not with public key cryptography. PK cryptography can be used for encryption or for digital signatures like accessing online features of your government if they support that or just sending bitcoins.
- the private key can be randomly created by you or your wallet and it gives you the possibility to keep your crypto on secure by others. it is never shared with anyone cause what you share is the public key or a bitcoin address
2.it can be used to send and receive bitcoin
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- Describe the concept of public and private key with your own words.
the privet key is a random number generated with my computer from it with a public key is getting generated but the opposite is impossible and from the public key a bitcoin address if getting generated but the opposite is short of impossible - What 2 use-cases can public key cryptography be used for?
Encryption and digital signture
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1- Public key and private are unique identifiers. your public key is like an address that people can see transactions under. a private key allows you to manage your in this case funds within your private key, this should be secret so no one else can gain access to your public key to steal/remove funds. In this case the public key is used as information of amount of cryptocurrency and transactions made by that specific user
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[quote=“ivan, post:1, topic:8431, full:true”]
Homework on Public and Private Keys - Questions
- Describe the concept of public and private key with your own words.
A private key is a code generated by a party to be able to send an encrypted message. The public key is used for the public to see and can then be used to generate a encrypted key that can only be deciphered using the private key that was used to generate the public key.
- What 2 use-cases can public key cryptography be used for?
It can be used to encrypt messages or to create and verify digital signatures.
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Public and private key concept allows secure communication transmitted over unsecured channel.
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Two use-cases that public key cryptography can be used are encryption and digital signatures.
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- Public key cryptography enable the use of encryption, like you would use for private messaging. Secondly it can be used for Bitcoin trading and exchange.
- Yes, Public & private keys refer to encryption, wherein messages can be sent in private and the receiver of the message can return a message to you privately by sourcing your public key
encrypting a message with it that only your private key can read.
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Homework on Public and Private Keys - Questions
1. Describe the concept of public and private key with your own words.
With a certain formula you can create a private key. Your private key consists out of a very large number. With another formula you can create a public key through your private key. Your public key is shared with others to encrypt or sign data only you can decrypt with your private key. That’s why it is very important that only you have acces to your private key.
2. What 2 use-cases can public key cryptography be used for?
Public key cryptography can be used for the encryption of data and for signing data with a digital signature.
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- the private key is a large randomly generated number. the public key is the result of hashing the private key.
- sending encrypted message or sending cryptotransaction.
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1 The public key is generated by my computer from my private key through cryptography sha-256 in one way mathematical calculation. Only brute force attack can guess my private key using quantum computing if my password is week. The public key is used as a sender or receiver address open to anyone to be seen. The private key is used as a digital signature in order to sign transactions. If I lost it I lost my crypto coins forever as no central authority can help me.
2. Encryption and Digital Signature
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Private keys are randomly created numbers that is used to create a public key that can be shared to people so they can send you encrypted messages/transaction that only the private key can decrypt.
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- Sending and receiving messages
- Sending and receiving transactions.
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- Describe the concept of public and private keys with your own words.
a. Public and Private keys, also known as end-to-end encryption, are security measures to protect
data sending on open communication channels. Cryptography allows users to verify data with a
digital fingerprint created by an algorithm.
- What 2 use-cases can public key cryptography be used for?
a. Sending cryptocurrency via unsecure networks and sending messages in open communication
channels.
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- Transactions/Messages need to be sent over a public network(internet). By generating a Private and Public key then an encrypted transaction can be sent and can bring privacy to the message. The recipient is the only one that can decrypt the transaction.
2.Encryption and Digital Signature.
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A private key is a random number generated by a computer. A public key is derived from the private key using an elliptic curve algorithm.
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In sending encrypted messages and to create digital signitures
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