Homework on Public and Private Keys - Questions

[justwest]

1. a private key is the gateway to your data, a public key allows you to encrypt messages from the private key across unsecure networks without compromising your private data.

2. 2 use-cases - sending encrypted emails, sending monetary transactions.

[wojtekp]

• Describe the concept of public and private key with your own words.
  Public and private key allow secure communication between two parties. Person A can encrypt message with public key belonging to person B which ensures only person B will be able to decrypt it using their private key.
• What 2 use-cases can public key cryptography be used for?
  encrypting messages for secure communications and digital signatures for verification of origin

[HVD1975]

1. Describe the concept of public and private key with your own words.
   Private Key decrypts information
   Public Key encrypts information
2. What 2 use-cases can public key cryptography be used for?
   Encryption
   Digital Signatures

[Dragotaa]

Private key is a random number that a user chooses to create the public key using eliptic curve algorithm.
Private key is used to sign transactions.
Public key is used to verify signature, origin and validity of a transaction.
Private and public keys are linked together. From public key the private key can’t be determined.
The private key must be kept secret.

Public key cryptography usecases are
a. encryption of data for secure communications and
b. digital signatures for origin verification

[phenomenhon]

Homework on Public and Private Keys - Questions

1. Describe the concept of public and private key with your own words.
   private key is used for digital signatures and public keys are used for receiving transactions in terms for bitcoin

2. What 2 use-cases can public key cryptography be used for?
   a) can be used for receiving transactions b) can be used for verifying digital signatures to ensure the correct person sent the transaction

[barney]

Answers to Homework on Public and Private Keys

1. Describe the concept of public and private key with your own words.
   The Private Key is created with a very large random number made by computer, that will then generate with specific mathematical formula, a Public key, that can’t be reversed back to that Private key.
   The Public Key is used to receive info/data from other people on the network.
   The Private key is then used by the Owner, to ether decrypt info/data that has been sent to the Public Key, or to identify him/herself to the network as the Owner of that Public Key when the Owner sends a transaction of info/data to other user on the network.
   
   
2. What 2 use-cases can public key cryptography be used for?
   To receive Encrypted info/data from other people on open network.
   And for Digital Signature, to identify themself to everybody else on that network with integrity of the info that being sent to them.
   
   

[SteveM]

Homework on Public and Private Keys - Questions

1. Describe the concept of public and private key with your own words.
   Public key is a randomly generated number generated from a private key
   paired together with the public key to create a crypto wallet.
2. What 2 use-cases can public key cryptography be used for?
   Encryption
   Digital signature

[PatricioEncalada]

1. The private key is a very large random number generated by a computer and the public key is a number derived from the private key, it is a different number but it is mathematically related to the private key number. The private key is secret and only the owner knows it, the public key is known by everybody, it is public.

2. Encryption: With the public key it is possible to encrypt information that could only be decrypted with the private key that matches the public key from origin.

Digital Signatures: It is possible to sign a transaction with the private key in a safe way. The validity of the transaction could be verified checking if the public key corresponds to the private key of the signature.

[0x00YASH0]

1. Public and private key cryptography is a system in which a private key known only to a privileged individual is used to derive a public key which can be used to prove knowledge of the secret key without revealing the secret key. In bitcoin the public key is derived from the secret key (k = random number of sufficient entropy) and a random point on the elliptic curve. K = k * G where K is the public key, k is the private key, and G is a random point on the elliptic curve is how the public key (K) is computed.

2. Public key cryptography can be used to decrypt messages as only the owner of the secret key would be able to decrypt the message. It can also be used in a digital signature to prove the user has access to do the thing (send funds as an example).

[JohnB]

1. A public key is visible to everyone on the network or platform where a private key is encrypted and not visible to the public.
2. One is for digital signature in signing legal documents currently acceptable, another is for financial transactions with banking online.

[Alko89]

@JohnB

private key is encrypted and not visible to the public.

Private key can be encrypted in a wallet but its not present on the blockchain at all.

@JohnB

another is for financial transactions with banking online.

If you have loging in to your banks website you might use a digital certificate but that process also involves digital signatures to authenticate. The other use case would be encryption.

[JohnB]

Yes I see the wallet has the encrypted key. Thanks

[Minaca]

@ivan

Homework on Public and Private Keys - Questions

1. Describe the concept of public and private key with your own words.
2. What 2 use-cases can public key cryptography be used for?

1. Public keys are a unique identifier derived from Private keys, Private keys comes from a random number assigned to you through a random number generator from your computer. Private keys are the input, and Public keys are the output. Like any hash you cannot discover the input value (Private key).
2. Public keys can be used to digitally sign something. Another is encryption in sending and receiving data.

[Jessica]

1 Private key is a large and highly random numbers and public key is used and shared with everyone on the network

2 Digital signature and encryption

[EllenM]

1. Each wallet is based on a private and public key pair. This core concept of cryptocurrency and blockchain industries ensures dual-factor authentication.
2. Encryption for use in unsecured environments and digital signatures for identification verification are two use-cases for public keys.

[MBF-Lifestyle]

1:A public key is lik a username…anyone can see
A private key is like a password only you know.
2: Public key can be used for Encryption on what you send, as well as signature.

[Viktor_Trenev]

1. The public key is the key used to encrypt a messege with and a private key is the key used to decrypt the messege.

2. Sending encrypted messeges and sending something of vallue.

[Reach.Higher]

1. Public keys are a series of numbers and letters that create a public identification sequence. Private keys are an individual sequence that validates and secures your identity like a fingerprint that should not be shared and kept private.

2.Two uses of a public-key in cryptography are encryption and a digital signature. Encryption is transforming information, messages or value into a coding language for privacy on open networks. A digital signature allows identification and verification of who is sending or who is receiving content for further security measures.

[akacamilou]

1. A public key is a combination of number derived from a private key. The public key is accessible to any one to see while the private key only the owner of the key can see it. Private keys are used to sign and/or authorized transactions.

2. For encryption and digital signatures.

[sergeyb]

1. Private key - random LARGE number. Public Key - combination derived from Private key that cannot be deciphered back to the private key.

2. a) Encryption - Message encrypted with recipients public key can only be deciphered by recipient.
   b) Digital signature - Sender can sign a message with a mathematical derivative of private key in order to prove that it is exactly him sending the message by recipient correlating his digital signature with public key.