Homework on Public and Private Keys - Questions

  1. Describe the concept of public and private key with your own words.
  • A private key is a set of numbers that are generated randomly by your computer. It is used to decrypt messages and also to create digital signatures. A public key is generated from the private key and can be used to encrypt messages.
  1. What 2 use-cases can public key cryptography be used for?
  • Digital signatures and encryption
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  1. So this concept is ensuring the security of the messages in open network or transaction security in bitcoin. In order to send messages securely receiver creates a private key and then from it it derives a public one that is shared in the open digital space. So if I want to encrypt my message I use receiver public key in order to encrypt the message, and then the receiver will be able to read it/decrypt only by using his privet key.

  2. It can be used to create my bitcoin address when creating a wallet.
    Other usage is a digital signature. When signing a document my private key will create a signature, that can be verified by the receiver by using my public key. So receiver will be able mathematically to confirm that this signature came from me by using signature itself and my public key, however he wont be able to see my private key cause its sort of one directional hash function, that give my finger print which is public key.

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  1. Public and private keys are used to to send money/coins/data/information between wallets. Public key are to be shared in open environments e.g blogs/twitter/youtube etc. Private keys are used to open wallets and send transactions. Public keys are automatically generated (via hashing) when a private key is created. The private key is used to sign and therefore verify transactions. There is no way to decipher your private key with your public key alone.

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

Encryption means that messages/data/money can be encrypted (hidden). The sender encrypts the message with the receivers public key. The receiver decrypts it with the their own private key.

Digital signatures means messages are signed and used to verify transactions.

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1. Describe the concept of public and private key with your own words.
The Public Key is the offshoot of my Private Key, allowing me to share with anyone whom wants to transact with me, its open, its sexy, come fund my BTC wallet.
The Private Key is only for my eyes only, only I can decode/decrypt the transaction or message derived from my public key. It is unique only to me.

2. What 2 use-cases can public key cryptography be used for?
Encrypting secret squirrel messages, it was created by the NSA, and Digital signatures used to verify authenticity and verify ownership

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  1. The public key is generated by using the private key and it can be shared with anyone. This way people can receive money or messages sent to that public key. The private key must be kept secret, otherwise the owner of the private key could lose his/her money or the encrypted message could be read by other people who know the private key.

  2. It can be used for encryption and digital signature.

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  1. A computer generates a random private key, which only the user has acess to, then the privat key generates a public key that everyone can see and you share with others and is only generated by ypu through the private key. The public key makes sure that you have signed the transaction your with private key.

  2. sending a message/transaction to another party or yourself.

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Private key and is random numbers generated for you and you only to see it is a digital fingerprint . Public key is when private key is used mathematically to send messages that the public can decrypt to sign and verify

Encryption and digital signatures are two use cases.

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1.
It’s a concept that allows a Sender and Receiver to exchange data in a safe & secure way. In practice: The Sender locates the public key of the Receiver to encrypt the message to be sent. Once the message has been received by the Receiver, the Receiver uses his Private Key to decrypt the message, and is thereafter able to read the message.

2.
a) The encryption of messages and,
b) Digital signatures used for sending funds (cryptocurrencies).

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1.) Public keys are made from Private keys. The other person is given the public key. They encrypt the message with Public Key. Sender uses Private Key to decrypt. Digital signatures use the private key to verify they sent the message.

2.) Encryption and digital signatures.

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software that generate a numbers called private key and with the private key you get a public key.
a private key its your prove to this account/assets/data… if you lost it you cant ever access to them :triumph: and your public key its the public address that everybody can see and use !

the use cases its the encryption and digital segnature! encryption for send and receive information and digital signature mostly in for cryptocurrency and smart contract !

its that a good enough answer?

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Homework on Public and Private Keys - Questions

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

A private key is a combination of random numbers that is generated and from that you can get a public key for the world to see and use. The public key is used to encrypt sensitive information and the private key decrypts that information.

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

Digital signatures eg. Bitcoin and encryption eg. sending a message on an open communication channel.

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  1. Public key is the concept of encrypting messages to communicate with someone, who has your private key.
  2. Encryption and Digital signatures.
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  1. A private key is a long, randomly generated string of values that only you should know and should keep offline. A mathematical formula is then used to turn the private into an encrypted, long string of new values creating a public key. The public key is what people see when they see you on the network and it’s not possible for them to figure out what your actual private key is by seeing your public key.

  2. Encryption and digital signatures

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  1. Describe the concept of public and private key with your own words. - The private key is a random set of numbers generated by the computer. You do not share it with anyone. If anyone knows your private key they have access to everything attached to that private key. The private key is your digital signature and what you sign crypto transactions with. Your public key is generated off of the private key. The public key is for the world to see.
  2. What 2 use-cases can public key cryptography be used for? The 2 use-cases are Encryption and Digital Signatures.
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  1. The concept of public and private key is to be able to send messages, transactions etc in safe and secure way. You need private key, the secret one, to create public key, which you can use to send for example encrypted or signed messages. Public and price keys are generated when you like to make secure transactions or for example send private messages at public forums.
  2. It can be used for encryption and digital signatures. Encryption is used to make messages, posts etc secret and readable only by person choose by us. Digital signatures are used in transactions for example in cryptocurrency wallets, but also by insurance companies, banks etc, which are able to verify people by signature generated by public keys.
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  1. Describe the concept of public and private key with your own words.

A private key is a randomly generated number. The number is incredibly long and the chance of generating the same number twice is infinitesimally small, to the point that it’s considered nigh-on impossible. This private key is secret and accessible only to the holder who originally generated it.

A public key is generated from the private key, which is visible to all.

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

Anyone can use a public key to encrypt messages sent to the owner of that public key. Once encrypted with the public key, it can only be unencrypted with the private key.

The public key can also be used to verify digital signatures. With this approach, a message is sent with a signature generated from the private key. The receiver of the message can reference the public key to confirm that it was generated by the associated private key in order to verify who sent the message.

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Public keys encrypt a message private keys decrypt a message.

Encryption and digital signature.

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  1. once a private key is generated(a very large random number) is hashed to create a public key. The public key is shared with everyone and is your public identifier that can be used by others to send you secure messages or packets of data that can be unencrypted only by using your private key. Your private key signs your sent messages or packets of data shared via your public key so this proves the message/data is sent by you.
  2. 2x use cases:Encryption and Digital signatures
    • Encryption- you can use someone’s public key to encrypt a message or packet of data and send over unsecured channels. The message can only be decrypted by the linked to this public key private key.
    • Digital signature - you sign transfer of data/transaction with your private key that is matched to your public key which in turn proves the truthfulness of the transaction.
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1.) If I were doing a business transaction with one of my favorite vendors and we are exchanging Q&A about the product of interest this is done via public key. However, once I purchase and hit the purchase option my payment information is encrypted by way of the computer generating a long sequence code of numbers. This is the private key but is also linked to my public key. On the vendor end he sees I have placed an order via my public key and payment made by my private key which is hidden but attached to my public key.
2.) Email & website login

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  1. A Private Key is unique to you and must be kept secret. A public key is derived from your private key and can be safely ā€˜shared with the world’.
  2. Public key cryptography can be used for Encrypting messages and Digitally Signing messages. When used for Digital Signatures, bitcoin will hash a combination of the message and your private key, to create the Digital Signature for that message. So the Digital Signature = Hashed Private Key + [that] Message. The recipient can then use the received Digital Signature + Message + Senders Public Key, to confirm the sender is the owner of that Public Key. i.e. The receiver can confirm if the Sender is who they claim to be.
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