Homework on Public and Private Keys - Questions

  1. Private key is a generated random number from which a public key is generated. There is no way to find out private key from a public key. With a private key, you sign the transactions.

  2. With a public key you can encrypt a message and create a wallet.

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  1. Describe the concept of public and private key with your own words.
    A private key is a random generated number which you need to keep for yourself. You should never share it with other people or lose it. The private key enables you to open secret messages that are sent to you or sign transactions/messages and thus enabling you to spend your funds. Via a special formula, you can create the public key from your private key. This public key can be shared with others and they can use it to send messages to you. Your public key is always linked to your private key. You can derive the public key from from the private key, but not the other way around. This makes sure nobody can get your private key by deriving it from your public key, since this isn’t possible.

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

  • Sending secret messages from person A to person B
  • Digital signatures to verify a message is really coming from person A.
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  1. Describe the concept of public and private key with your own words.

    -computer generates the private key for me, which then can be used to generate the public key (can be seen by everyone) and both keys interact with each other, in that case they can be used in different ways, for example messaging, validation, digital signatures

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

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Wallet only stores your keys that you can use to digitally sign transactions :wink:

  1. Describe the concept of public and private key with your own words.
    With a private key and public key you can decrypt an message. You have to keep the private key private, and the public key can be shared.
  2. What 2 use-cases can public key cryptography be used for?
    HTTPS traffic and encryption
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  1. A public key is produced by a private key. Authentication is achieved by proving that the public key was derived from the private key.

  2. When sending and receiving bitcoin. Sending and receiving encrypted email. Digital signatures

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Homework on Public and Private Keys:

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

A: The concept of public and private key relates to the subject of security, in some cases using encryption and in others using digital signatures. Encryption uses private and public keys. A private key is a random number generated by a computer and shared publicly. No matter who see’s and uses the public key to encrypt and send communications to the creator of the private key the public key was derived from, that communication encrypted by that public key will only be readable by the holder of the private key the public key was derived from.

Q2: What 2 use-cases can public-key cryptography be used for?

A: The 2 use-cases for which public-key cryptography can be used are Encryption and Digital Signatures. Encryption is not frequently used in cryptocurrencies. Most frequently in cryptocurrencies is Digital Signatures which consist of a randomly generated private key used to derive a public key from, which in turn is used to derive the bitcoin address from.

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Private keys are a set of computer generated random numbers
Then the public keys are a set of computer generated random numbers that are derived from the private keys

Public key cryptography can be used as a digital signature to verify that a message came from a specific source.
Public key cryptography can also be used to create a bitcoin address

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HTTPS also uses encryption, the other usecase are digital signatures that are used in cryptocurrencies. :slight_smile:

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Bitcoin address is basically just a hash of the public key. PK cryptography can also be used for encryption. :slight_smile:

  1. Describe the concept of public and private key with your own words.
    ==> Private Key is a random cryptographic string generated / created by a user. This is then used to derive the Public key which can be shared with other users to communicate with.
    A sender will use the private key to either sign the message or the public key to encrypt the message The receiver will be verify the message received (if signed using the private key) or decrypt the message using the private key (in case it is encrypted with the public key)

  2. What 2 use-cases can public key cryptography be used for?
    ==> The primary use cases for public key cryptography are
    – Encryption
    – Digital Signatures

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  1. Describe the concept of public and private key with your own words.
    A public key is used to encrypt a public message. This message can only be decrypted by someone with a private key. So when a publicly encrypted message is sent to a recipient, a private key that is only available to the recipient is needed to open the message. It doesn’t matter if the message is sent to the wrong person, they will not open it without the private key.
  2. What 2 use-cases can public key cryptography be used for?
    The two public key cryptography use-cases are Encryption and Digital Signatures. While cryptography is used to code messages for a specific recipient, digital signature is important for verification of the source/originator of the message. So public key cryptography is the difference between the right message originator and the right recipient. It is all about validation.
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  • Describe the concept of public and private key with your own words.

It is a method for transmiting data over a public network in such a way that only the sender and receiver can acces the transmited data. Consists of two numbers, one only known by the sender (priivite key) and the second one public available.

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

(1) For secure transmition of messages over a public network (encryption)

(2) For verification of identitiy when sending documents over a public network (digital signatures)

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I found this video, I think it gives a good idea of the working of asynnetric encryption

https://youtu.be/NmM9HA2MQGI

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  1. The public key is the point of contact that you share with everyone. The private key is the randomly generated number that unlocks it.

  2. Encryption and Digital signature.

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1A. Public key is seen by the blockchain and other people this is used to send and receive messages/currency. Your private key is used for viewing said information.
2A. Sending funds and proof of work and realism.

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1) Describe the concept of public and private key with your own words.
Your private key (which only you have access to) generates, using a mathematical formula, a public key which anyone can have access to. It is a one-way function. The private key can decrypt the public key but the public key cannot decrypt the private key.

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

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  1. Private key is a randomly generated number by my computer out of which the public key is derived. Private keys cannot be shared with anyone else, however public keys can be openly shared. It was used in the past as an Bitcoin address, however nowadays from public keys, there is one additional step until final creation of Bitcoin address.
  2. Encryption and digital signature
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Describe the concept of public and private key with your own words.

Public keys and private keys are used together to protect data from unauthorized use. A public key is publicly accessible while a private key is only known by its user.

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

Public keys can be used for document signing to verify digital signatures from a private key.

Public keys can also be used to encrypt private messages and only be decrypted by the recipients private key.

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

Public Key: A public key is generated/created by your private key, the public key is connected to your private key and unlike the private key, the public key can be viewed by anybody. The concept of a public key is that if a message was sent from one computer to another, it would be visible to everybody. By attaching a public key to the message, the message is no longer visible to everybody and all that can be seen is a public key address which doesn’t mean much, the person that has the private key can decrypt the public key.

  1. The 2 use-cases are Encryption and Digital Signature.
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