Homework on Public and Private Keys - Questions

Blockchain and Bitcoin 101
#283

1.The private key is a random number, chosen by an owner of a wallet / account / message, in order to prove the funds / message is really his’ or hers. This is hashed into a public key, which can be known and used by everyone (= counterparty) in order to communicate / transact with the owner. Every transaction / input into the block needs to be identified with these keys.
2. The 2 use-cases, public key cryptography can be used for, are:

  • encryption of sensible information / keys and
  • digital signature, a way to prove ownership of funds / messages / account
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#284

Homework on Public and Private Keys - Questions

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

Private key is a random number that is generated by your computer. Then the public key is generated from the private key randomly also.

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

The public in essence is your digital address for the public to send your data which all encrypted and the private key is like your own personal signature for only you to use as consenting to any exchange of data.

Post your public Address for payments and acceptance of bitcoin.

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#285

[quote=“ivan, post:1, topic:8431”]

  • Describe the concept of public and private key with your own words.
    The the idea of public and private key is very important to send and receive message securely through encryption.
    The private key is created randomly on your computer and then public key is derived from it in order to use the address for receiving transaction or messages. The private key will provide signature for approving any transactions made.
  • What 2 use-cases can public key cryptography be used for?
    The two use cases for public key cryptography is encryption and digital signature.
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#286
  1. The private key is a set of randomly generated numbers by a computer that is known only by the owner. It can be used to generate a public key, which can be seen by everyone.
  2. The public key can be used for encryption and digital signatures. The former is used to encrypt messages sent through a public network by utilizing the public key. While the latter is used for verifying whether transactions were sent by the right person.
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#287
  1. A private key is a number that is randomly generated by the computer. It is so long that it’s impossible to know what it is. From this private key, the computer generates a public key… Whereas the public key can be shared openly, the private key must never be shared nor must be lost as it will then hand over the authority to the person who gets the private key.

Public and private keys are used in bitcoin transactions and if one lost their private key [for example] one would lose their bitcoin. Alternately, if the private key gets stolen, the bitcoin then gets taken by the person who steals the private key.

  1. The 2 use cases of public key cryptography are: Encryption & Digital Signatures. Digital signatures are used in bitcoin transactions.
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#288

  1. A private key is a long random number that can be generated manually or computationally. By applying a formula to a private key a public key is derived, but it is not possible to derive the private key using the associated public one. Consequently private keys must be safeguarded. Private keys can be used to unencrypt data sent using a public key.

  2. Public key cryptography can be used for sending encrypted data and for generating digital signatures.

#289

Uses for encryption and digital signatures.

#290

  1. If someone want to send me a message they use my public key to decrypt the message and I as the holder of the private key can decrypt the message and take part of it.

  2. Send encrypted messages and use it as digital signature.

#291

A public key is a shareable one-way output of the private key which is used to verify digital signatures or to encrypt data. Private keys are long random numbers generated by the users computer which are then used to create the public key. The public and private keys are cryptographically related to each other but the private key is always private. The owner of the private key can digitally sign messages or transactions or be used to unencrypted messages encrypted using the public key. The public key can also be used to generate a public Bitcoin address to which transactions can be sent giving an additional layer of privacy to the users private key.

#292

  1. A private key is a random number that is kept secret. Through a formula you generate a public key from the private key. The public key can be shared. Mathematically there is no way to derive a private key from a public key. You can send a private message and encrypt it with someone’s public key, and the only way to decrypt the message is by using the corresponding private key.

  2. Two use cases public key cryptography can be used for are encryption as described in the first answer, and digital signatures, where the private key is used to sign and send the message to verify who the message is coming from. You can mathematically tell that the signature came from the private key that generated the public key.

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#293

  1. A public key is an address available to the public for which anyone can send funds to another individual. Utilizing both public and private keys in a protocol enables us to have multiple signatures in a transaction to prove it’s legitimacy.

  2. first is encryption second is digital signatures

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#294
  1. Describe the concept of public and private key with your own words.

  • Private key: In Private key, the same key (secret key) is used for encryption and decryption.

  • Public key: In Public key, two keys are used one key is used for encryption and another key is used for decryption. One key (public key) is used for encrypt the plain text to convert it into cipher text and another key (private key) is used by receiver to decrypt the cipher text to read the message.

  1. What 2 use-cases can public key cryptography be used for
  • Encyrpt messages on a open communication channel
  • Use to se if it corresponds to the private key when using digital signature
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#295

1.A private key is a randomly generated large number which is then mathematically processed in to a public key. The private key cannot be derived from the public key, but anything encrypted by the public key can only be decrypted by the private key, and cannot be decrypted by the public key.

  1. The two use cases are cryptography and digital signatures.
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#296
  1. Public key is the key the world sees, private key is the key you use to sign and verify transactions and to decrypt messages or transactions sent to your public key
  2. Encryption and digital signatures
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#297

1 A private key is a random number that is run through a hash function to create a public key. The encrypted information attached to that public key can only be restored with the private key.

2 Encryption and digital signatures

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#298

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

Private-Keys (random number generated by your computer) is a your personal key to sign and send transactions, the one that holds the Private-Keys to a specific wallet with ex. BTC
owns the BTC. Public-Key are derived from the Private key and generates a Bitcoin-address that you can share so that others can send BTC to you.

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

Encryption - use a recipients public-key to encrypt a message, which the recipent can decrypt with his/her private-key.

Digital signatures - Verifying who sent a particular message by matching the signature and the public-key.

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#299
  1. The Private key is an input created by a computer and the public key is a mathematical output of the private key making this process a one-way function.
  2. 1st to encrypt messages on open networks. The 2nd would be for digital signatures for identifying who sent a message and maintaining integrity .
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#300

1- Private key is the master key to an account. Public key allows use of certain areas of
that account by authorized entities.

2- Encryption and Digital signatures.

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#301

The private key is the unique access code to your bitcoins that for obvious security reasons the creditor is the only one who can know it. The public key is derived from the private key, it is the one that gives rise to the purses to receive the coins.

2.It is used to recognize digital signatures, as well as send encrypted messages.

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#302

1.Describe the concept of public and private key with your own words.
A private key is private . From your private key you can generate a public key which is encrypted. The public key is for the world to see. However they can only see the key/numbers not it contents (private key). When one wants to read the content of a public key, one needs to have acces to the private key in order to decrypt it.

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

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