Homework on Public and Private Keys - Questions

Blockchain and Bitcoin 101
#303
  1. Private key is actually a random number or a random mathematical calculation which derives a certain secret solution (certain number) known only to computer’s owner.
    Then through some computational process the private key generates a one way public key (which can not reverse to revel the private)
    and can be shared between correspondents in order to do encrypted actions that will be hidden and can be exposed only to the PK holder.
  2. Send encrypted msg
    Sender verification through the process of verifying a mathematical correspondence between a digital sign (attached to the senders msg) and the senders public key.
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#304
  1. Our PC generate a random number - PRIVAT KEY. Then with a special function we generate a PUBLIC KEY. If Alice send a secret message to Bob, she uses Bobs public key to encrypt the message. The message can only now be read from Bob, because only Bob has the private key to decrypt the message.
  1. It can be use for Encryption and for digital signatures.

Not your keys , not your coins

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#305
  1. The private key remains secret. The public key can be shared.
  2. Encrypted emails and signing digital documents
#306

  1. Describe the concept of public and private key with your own words.
    A Private key is generated by a computer and a mathematical formula derives a Public Key to use Publicly. A private key should never be shared! A public key can be shared with your sister, grandma or a stranger on the street.

  2. What 2 use-cases can public key cryptography be used for?
    Encryption: to encrypt messages sent on insecure channels such as fora, social media etc.
    Digital signature: used predominantly in Blockchain technology. In order for sender and receiver to verify the sender, the message/value is authentic

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#307
  1. A private key is a number that unlocks or grants access to your crypto currency wallet and funds. The public key is used to make transactions and comunicate with other players, and derivates from the private one. You can never figure the private key from looking at the public key.
  2. Public key cryptography can be used to encrypt messages, and to encrypt private keys.
#308

  1. One person can generate a private key using very large numbers, and also create a public key to encrypt the data which can only be decrypted with the original private key. They can then send the public key to others and have them encrypt data that only the private key holder can decrypt.

  2. The two use cases are encryption and digital signatures.

All transactions can be encrypted in a way where only the recipient will be able to decrypt it and process the transaction.

With a private key and a document, the original sender can “sign” the document to prove its authenticity. Then the recipient can use the same hashing algorithm and public key to verify the document’s authenticity.

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#309

  1. A public key is generated from a private key. A public key is openly available to everyone. Just like your home address, but only you have the key to your home (private key). People can send things to my home, but only I can gain access to these things with my home key.

  2. Message encryption and signing of message (to verify that I am indeed the correct person who sent the message).

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#310

Describe the concept of public and private key with your own words.
A private key is an extremely large number which is used in conjunction with a function to create a public key. The public key can be used to confirm that a digital signature for a message was created by the corresponding private key. The public key can also be used to encrypt a message so that the only way to decrypt the message is with the corresponding private key which was used to create the public key. They are used in computing to provide security, privacy and verification.

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

  1. Encryption 2) Digital signatures.
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#311

  1. Describe the concept of public and private key with your own words.
    Your public key is generated from the private key and is used to send and receive tx. The private key is your secret cryptographic key and if it falls into the wrong hands they would be able to access your funds.

  2. What 2 use-cases can public key cryptography be used for?
    It is used for digital signatures on your tx and to verify your identity.

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#312

1.The Public Key is like my bank account number. It can be shared. The private key is like the access password to my bank account. the public key is the hash result of the private key.

  1. To send a encrypted message or to send a bitcoin transfer, for instance
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#313

A public key is a key than can be shared with other people and on social media networks for example. Other people can send money or encrypted messages to your public key.
A private key is not to be shared with anyone, it is used to receive money and decrypt messages.

Encryption and digital signatures.

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#314

  1. Public and Private Keys are both the messaging and security process of sending either a written document or funds, in terms of its use in crypto. The Private Key is for you alone and it receives what is being sent to you via The Public Key which derives from your Private Key

  2. a. To send or receive messages or funds from other Public Keys

    b. To create a “Bitcoin Address” for additional security

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#315

Homework - Public & Private Key Cryptography

1. Describe the concept of public and private key with your own words.
A public key converts messages into an unreadable format by encrypting the data. A private key is a secret key that is used to decrypt the message.

2. What 2 use-cases can public key cryptography be used for?
Two use-cases would be encryption and decryption of any type of data string.

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#316

  1. An individual can generate a private key on their computer, from the private key a public key is also generated that can be shared in the public.

  2. Public key cryptography can be used for encrypting messages and verifying a message is coming from a certain source.

#317

1.When you want to make a transaction on the blockchain you have to generate a private key. The public key can be created from the Private Key. The private key is personal and secret, and should not be shared with a third party. The public key is a kind of account, comparable to a bank account. These can be shared with everyone. It is impossible to retrieve the private key via the public key. The public key encrypts the data. The private key decrypts the data. This is the mathematical relationship between the two keys. If you lose your private key, you will no longer be able to decrypt data and all data will be lost. In the cryptocurrencies sphere, these keys are mainly used for digital signature. The private key is the signature of a transaction

  1. Encryption and digital signature
#318

A digital signature is not the same as the private key. The private key is used in combination with someone’s public key + the message to create an unique digital signature for a specific message (or transaction) and public key

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#319

thanx for the correction :slight_smile:

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#320

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?

Answer:

  1. A private key is a randomly generated number. Then, through special function, a public key created from your private key. There is no way to deduce a private key from the public key. This property is used in Bitcoin Blockchain to send funds from one address ( wallet ) to another.

  2. A public key can be used to send encrypted messages, so no spying eyes on the network can see the content of your message.
    The other use case is the verification by digital signature (private key) that you have coins in your address. Everyone can see your public key, and when you send a transaction with a private key ( digital signature), the receiver can verify your public key by using the digital signature ( private key ).

#321
  1. Describe the concept of public and private key with your own words.
  • The private key is basically like your SSN. It is what identifies you because it is uniquely made for you, so you must keep it a secret and must keep it safe. The public key is derived from the private key. It is what allows others to view a transaction and to verify it.
  1. What 2 use-cases can public key cryptography be used for?
  • Two use-cases public key cryptography can be used for are encryption and digital signatures.
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#322

1.private key generates public key so public key everyone can see- and you private keys nobody knows-that is our digital signature.
2. First for Encription and second for digital signature.