Homework on Public and Private Keys - Questions

Blockchain and Bitcoin 101
#3122
  1. Public key is output of Private key which is input. Nobody Can’t figure out the Private key from the public key.
  2. Encryption and digital signatures
1 Like
#3123

It can be used in digital sign and encryption of for example messages in open (unsecured) networks.

1 Like
#3124

1. Describe the concept of public and private key with your own words.
Public and private key is a pair of keys where the public key is viewable for everyone and the private key is only known by the person owning the key-pair (if he did not loose the private key). The public key is derived from the private key.

2. What 2 use-cases can public key cryptography be used for?
Signing: The owner can sign data (E-Mail, Bitcoin Transaction, Text etc.) by using his private key. The receipient can use the public key of the owner to verifiy, that the message’s origin is the one how claims to own the public key.

Encryption: Data can be encrypted by using the public key of the receipient. The only one who can decrypt the data is the one owning the private key belonging to the public key.

1 Like
#3125
  1. Private key represents your identity, public key is a hash of the Private key to verify that a transaction/message is initiated by you, without anyone getting access/visibility to your private keys. Access to private key represents control over identity.
  2. Encrypted messaging and financial transactions.
1 Like
#3126

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

The private key is randomly generated by one’s computer. The public key is a number that is derived from that private key.
The private key should remain secret at all times. It is used to decrypt or sign messages
The public key is used to encrypt messages or to verify sgnatures

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

see above

1 Like
#3127

  1. A private key is a large, random number generated by a computer. Through a mathematical formula, it in turns creates a public key. The public key contains a property that renders it impossible for anyone to find the private key that created it. The keys can be used to encrypt messages and verify the identity of individuals that have sent them in regard to open communication channels.

  2. Public key cryptography can be used for encryption and digital signatures.

1 Like
#3128
  1. Describe the concept of public and private key with your own words.
    With help from a public and private key you will be able to send private messages and transitions to other people. The private key is a random number generated from your computer, the public key derives from the private key. The public key you can share with other people so they can use it to encrypt data only you can decrypt. With your private key you will be able to unencrypt private messages that’s why you need to keep it secret. The private key can also be used as a digital signature and it will verify to other users that its you. Private key is whats grants you access to the funds thats been sent to your public key.
  2. What 2 use-cases can public key cryptography be used for?
    Encryption-Sending/Receiving messages
    Digital Signature-Sending/Receiving transactions
1 Like
#3129

  1. A Private key is a personal number that should be kept private and secure at all times. It basically gives you access to your own Crypto. After you created a Private key from that you can create a Public key and then a Bitcoin address to use for public transaction. A private key is also used to sign for transaction done using your Bitcoin address. To verify that this transactions were made by you.

  2. Encryption and Digital signatures.

1 Like
#3130
  1. The private key is used to sign/encrypt my transaction/message to send to someone’s public key. Which they can verify/decrypt with my public key.
    2.Verification and Encryption.
1 Like
#3131

Messages are encrypted with a public key and can be decrypted with the private key. :slight_smile:

#3132

  1. Private key is randomly generate large number that is visible only for the owner and everyone should keep it a as secret. Private key is used for signatures, encrypted messages and finance’s protection.
    Public key is generated thru a special formula that takes the private key and it’s shared everywhere. It’s used to verify that the signature is created by the same Private key that’s generated the Public key.
    It’s like a 2FA.

  2. Encryption and Digital Signature

1 Like
#3133
  1. Describe the concept of public and private key with your own words. A one way street for now. Private key, then derives a public key. Guessing a private would probably have a higher degree of chance of succeeding than trying to brute force with a computer.
  2. What 2 use-cases can public key cryptography be used for? Verifying a “who or them (multisig)”. Throwing a digital pass (tx, address to address) that is probably impossible to intercept.
1 Like
#3134
  1. Private key is random number used to generate your public key which then generates your BTC address.
  2. Encryption and Digital signature
1 Like
#3135
  1. Describe the concept of public and private key with your own words.

A private key is a randomly generated number, a public key is a hash of that private key.
The private and public key can then be used to secure messages across a network in different ways.

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

Anyone can can encrypt messages using a public key that can only be decrypted by the private key.
You can use your private key to sign messages, proving that you sent the message (and not someone else).

1 Like
#3136

  1. Describe the concept of public and private key with your own words.
    Public and private keys are cryptographic tools that can be used to for security and identification purposes.
    Private key is your secret identity which belong to you and only you and it is a random number generated by computer.
    Public key is the key which can be seen by everyone and it is generated by using your private key.
    Public key is used to assure that you have signed the transaction in cryptocurrency and

  2. What 2 use-cases can public key cryptography be used for?
    Public key cryptography is currently used in Bitcoin transactions. The public key is the address you share so other people can send you Bitcoin to that address. The private key is what grants you access to the funds sent to the public key, which was derived from the private key.
    Another use id Digital Signatures. Which secures data on the blockchain making sure a data is sent by the the person who generated the data.

1 Like
#3137

1)public and private keys are encryption tools used in blockchain for security and identification. public-key keys are generated and linked to your private keys to operate publicly.
2) Public keys are used to transact and encrypt information.

2 Likes
#3138

  1. You create a private key by generating a random number, you then use a special program to take that number and generate a public key. Your private key is for you and you only if you lose it or someone steals it you have lost control of your coins. The public key is used by the public to see that you signed the transaction and verify that it was truly you. You can not find the private key through the public key only the public key through the private key.

  2. The 2 use types are encryption and digital signatures.

1 Like
#3139

Miltisig is basically just multiple signatures for a particular UTXO to unlock which is a concept of digital signatures. Not sure what you mean with the second part.
The other use case you can use public key cryptography is encryption. :slight_smile:

#3140

Both of these utilize digital signatures. The other use case would be encryption. :slight_smile:

#3141

yes but they can only read my message by decrypting it with my public key is what i meant, refering to PGP