Homework on Public and Private Keys - Questions

Blockchain and Bitcoin 101
#3062

Homework on Public and Private Keys - Questions

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

A private key is generated > you are then able to generate a public key.

The public key encrypts information - you share this key with others which they use to encrypt information.

The private key decrypts the information that was encrypted with the use of the public key - you do not share the private key with anyone.

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

Encryption and digital signature.

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#3063

  1. Private keys are owned by just one person. Public keys are available for all to see/use.

  2. You can create a bitcoin address with a public key and is used to make sure you have signed the transaction. It can be used to encrypt messages.

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#3064

1 Being able to verify the identity of sender and receiver even in cases when you transfer messages in unsecure networks and being able verifying data integrity.

2 Encryption and Digital Signature ( identify and integrity )

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#3065

Homework on Public and Private Keys - Questions

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

Private key is to be kept secret and protected. Public key can be shared to receive funds for example.

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

It’s for data encryption and digital signature

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#3066
  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 key a string of numbers generated from a private key and sent publicly to be deciphered by the intended receiver. And private key is a key generated by computer which is intended not to be shared with anyone else. It’s lock for your money. You lost your key you lose your money.
    2- The 2 use cases of public key cryptography are transmission of encrypted messages publicly and digital signature for verification purposes.
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#3067

  1. Public key is something that everyone sees in the network and that is where the Private is derived from. Then you have a Bitcoin Address. Someone cannot find your private key from your public key because it’s mathematically virtually impossible.

  2. Digital signatures & Encryptions

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#3068

  1. The private key is a randomly generated number. The public key is a number generated from the private key. You can derive the public key from the private key but, you cannot derive the private key from the public key.

  2. 1st case is that one can encrypt a message with a receivers public key. Since it is encrypted, nobody can see the message. The only one who can access the message is the one who has the private key of the public key, the message was encrypted with.
    2nd case is used as a signature. The public key is the public’s view of one’s private key/signature. E.g. I can use someone’s public key to put something in their wallet, but, I can’t use it to access their wallet. Only the private key to that wallet can access that wallet

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#3069
  1. Describe the concept of public and private key with your own words.
    The Private key:
    - Is the initial key generated.
    - It is used to generate the public key and signatures
    - This should be kept private, if anyone has your private key they can decrypt messages in message/files/etc, digitally sign (like to confirm a message or for ‘owning a wallet’ in crypto).
    The Public key
    - It is generated based on your private key
    - This is given out freely.
    - can be used to verify a senders signature
  2. What 2 use-cases can public key cryptography be used for?
    - Encryption
    - Digital signatures which is what is used in Bitcoin.
    * Public_key --> to generate bitcoin address
    * Receiving funds to your bitcoin address (which is linked to your public_key).
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#3070
  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?

The concept of public key private key is to ensure that information sent across a public open channel is encrypted. A private key is used to create a public key and also used to decipher the message sent. The system is based on number theory using prime numbers which create such a larger proportion of possibilities even a computer will not be able to undertake the amount df calculations required to crack the code.

  1. Public key cryptography can be used to send secure messages across a public channel and also as a digital signature.
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#3071

Homework on Public and Private Keys - Questions

  1. Describe the concept of public and private key with your own words. - You generate a private key and derive the public key from that. Your public key you can share and your private key you keep to yourself so that you can sign and approve trades etc.
  2. What 2 use-cases can public key cryptography be used for? Encrypting and signing messages.
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#3072

  1. Public keys are used to encrypts sensitive data while private keys decrypt data that was once encrypted by the public key.

  2. Encryption and digital signatures.

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#3073

The public key is generated from the private key

Messaging and digital signatures

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#3074
  1. Describe the concept of public and private key with your own words.

The way I would describe a private key and a public key is, think of a bank account with online banking that is your wallet. Your Private key is your pin or your password used when you swipe. The Public key is like your account number. which you give to everyone to pay money in.

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

Encryption

Digital Signature

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#3075
  1. Public key derives from the private key and is available from everybody. Private key is a random huge number which belongs only to you and allows you to…
  2. Encrypt and sign data and transactions.
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#3076

A private key is a randomly generated number that can be used to derive a public key. The public key can be shared with the word and private key is held in secret. The public key be be used to encrypt a message for which the receiver can read with private key. In the signature use case the private key can be used to sign a message & the public key can be used to verify that the person who sent the message is who they say they are.

Encryption & Signature as explained above.

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#3077

When sending data or information through open networks these messages/transactions can be encrypted using a combination of public and private keys. The recipient can randomly generate a private key which can subsequently generate a public key, the sender can then use this public key to encrypt the data of the transaction so that the public is unable to see the components of the message, the recipient of the transaction will be able to use their private key to unlock the message so that they can see the details of the transaction. It is impossible for someone to obtain a private key by having access to the public key since they are both randomly generated alphanumerical values which have no correlation. However, it is possible to determine what the public key is by using the private key, this is because the private and public key need to both correspond to create a valid address.
2 - When creating a bitcoin wallet the computer will first generate a random private key, which in turn generates a public key, this will then create a legitimate bitcoin address from which funds can be sent to and from. The public key allows others in the network to send bitcoin to your address, this public key will also encrypt the transaction so that only the sender and recipient have knowledge of the details of the transaction. The private key is used a means of gaining access to your funds, this is why it is imperative that this key is never stolen or given away, as it gives others access to steal your funds. Public key cryptography can be used to encrypt transactions so that only the recipient and sender can see the details of the transaction. Digital signatures are another use-case of this cryptography as they all for the verification of transactions to prove that it was you who sent a transaction over a network.

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#3078

  1. Public key is used to encrypt and send message over the network while private key is used to decrypt it.

  2. Public key cryptography can be used for encryption and as a digital signature .

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#3079
  1. Describe the concept of public and private key with your own words.
    Private key is a large random number, a string of numbers and letters, only know by the owner, is a secret key and shouldn’t be shared at all. Public key is also a random number generated by the (my) computer which is derived from the private key through complex mathematical algorithms and can be shown everywhere, doesn’t exist the risk of revealing confidential information when is used. With the private key we can create theoretically millions of public keys.The combination of both encrypt and decrypt data
  2. What 2 use-cases can public key cryptography be used for?
    Encryption and Digital signatures that provides integrity and authentication
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#3080

  1. Private key is a randomly generated unique string visible only to the “owner”. A Public Key (another unique string) is generated from the private key and is visible to anyone. The relationship is such that one can easily go from Private Key -> Public Key but can never derive Public Key -> Private Key

  2. The first use case in encryption. One can send a private message by hashing their message using “Bob’s” public key such that the message can only be revealed by hashing it with “Bob’s” private key.
    The second use case is digital signature. Bob can send a message and attach a hashed version of his private key such that anyone with his public key can verify that Bob is in fact the sender.

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#3081

  1. Describe the concept of public and private key with your own words.
    Private Key is used to both encrypt and decrypt the data and is shared between the sender and receiver of encrypted data. The public key is only used to encrypt data and the private key is needed to decrypt the data. The public key is open to the public while the private key is kept secret and not public to anyone apart from the sender and receiver.

  2. What 2 use-cases can public key cryptography be used for?
    The 2 use cases are first, encryption which enables private communication over a public network. Secondly, digital signature which enables the receiver to verify the signature and message of the sender.

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