Homework on Public and Private Keys - Questions

Blockchain and Bitcoin 101
#3344

  1. The public key is seen by the world and allows for others to send things to that address. A private key is tied to your public key and signs packets to show that it was sent by you.

  2. Encryption and digital signatures.

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#3345

  1. Describe the concept of public and private key with your own words. - A private key unlocks the right for its owner to use associated crypto and a public key is networked between peers to prove that a transaction is legit.

  2. The 2 use cases are encryption and digital signatures

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#3346
  1. A private key is a random number that computers generate which allow for encryption and digital signatures. It allows you to decrypt encrypted messages or access Bitcoin funds, keeping others away from accessing it. You can also use it to sign your transactions so miners can verify you were the one who processed it. A public key is another number that is based on the private key and generated through a special formula. It is public facing and can be share anywhere. A public key can be used to encrypt messages and also to verify the sender. A public key can also generate a Bitcoin address.

2.Two use cases for public key cryptography are to encrypt a message that you do not wish anyone sees other than the intended recipient, and to verify the sender of the message when you receive one.

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#3347
  1. Describe the concept of public and private key with your own words.
    A private key is just that, private. A public key is then derived from that private key and is accessible. People can then use my public key to encrypt messages that only my private key can read, or transfer me funds via my public key that then only my private key can access. I can also use that private key to create a digital signature that when connected with the public key will point back to my private key.
    i.e. If Alice sends Bob 0.1 BTC, her automatically generated private key signs this transaction in the form of a digital signature. When Bob receives his 0.1 BTC he can verify it was Alice who sent that transaction by combining her digital signature + public key and that will tell him if indeed that digital signature was generated from Aliceā€™s private key or not.
  2. What 2 use-cases can public key cryptography be used for?
  • Encryption of messaging, useful when sending private emails across a public network.
  • Through the use of digital signatures and using them to verify participants in a transaction.
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#3348
  1. Private key is your secret identity and it is a random number generated by computer. Public key is generated by using your private key and can be seen by everyone.
  2. Digital signature and Encryption.
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#3349

1.Private Key is used to generate Public Key.
Public Key is used to encrypt any info transfer and to access this transferred info you need Private Key.

2.Encryption and Digital Signature.
Encryption used for safe internet use, sensitive and private info exchange.
Digital Signature used for safe crypto currency exchange.

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#3350

  1. The Private key is exactly as it says! Private. This is kept and must not be shown to anyone or you could loose your date, money etc. The Public key is again as described. Used for other transactions or messages to interact with the Private key holder.

  2. Use cases are Encryption of messages such as PGP and Digital signatures to verify a message or transaction

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#3351
  1. Describe the concept of public and private key with your own words.
    Private and public keys are paired. Private keys are large random numbers, from which public keys are derived.
  2. What 2 use-cases can public key cryptography be used for?
    Encrypting messages and verifying digital signatures
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#3352

  1. Public and Private Keys are a way for securely sending information. There is no way for anyone to get access to your private key which makes it very safe to use. They can be used to encrypt information and they can be used to verify information and transactions.

  2. Two case studies for these to be used are in encryption and for digital signatures.

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#3353
  1. Encryption , identification and integrity of message is achieved by the uses of private and public key combination. Private key is available only to the person who owns it. Public key can be viewed by anyone. However going from private to public key is a one way function, and private key canā€™t be decrypted from public.
  2. Encryption and digital signature are 2 use cases public key cryptography is used for.
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#3354
  1. Describe the concept of public and private key with your own words.

Private key is generated by the computer and must not be shared with anybody. Public key is derived by the computer from private key and it can be shared with anybody to receive funds or messages. It is impossible for anybody to figure out your private key from public key. If anybody has access to your private key they can steal your funds. Hence why keeping cryptocurrencies on exchanges is not safe. Exchanges are the owners of your crypto wallets private keys.

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

Encryptions to send anonymous message & digital signature to verify where the message came from.

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#3355

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#3356

1.private keys are encrypted and are not available in the public domain and public keys are.
2. It can be used to encrypt messages and it can be used to sign digital signatures, such as sending a text message or sending cryptocurrencies to someone.

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#3357
  1. Private Key is secret and only known by myself. Can be used to SIGN & Encrypt data and transactions. Private Key is a very large random number. Private Key can generate a Public key, but not the other way around.

Public Key is based on Private Key and open for all to see. A Public Key can not generate/reveal a Private Key.

    1. Encryption 2) Digital Signature
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#3358
  1. Describe the concept of public and private key with your own words.

A private key is a key which gets generated with the creation of the wallet and is never shared in transactions. Public key, which is generated from the private key, is the one that actually gets used.

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

Public key cryptography can be used in process of encryption, where the receiverā€™s public key is encrypted in the senderā€™s message and can be unlocked only with receiverā€™s private key and in the process of a digital signature (the public key cryptography actually used in Bitcoin transactions) where the sender signs a digital signature with the private key. Public key in that case can be used to verify that the message actually comes from the assumed sender.

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#3359

  1. Private & public keys, are encrypted numerical keys,used on a open market place. A private key is personnel to you, and is used to generate a public key which you share openly with the world, through which you can send unidirectionaly secure encrypted data - a message, to someone else who uses the public key to decrypt and view the message or data.

  2. use cases are secure encryption and digital signatures, for identification and or integrity.

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#3360
  1. Private Key is a number generated by your computer, this number isnā€™t accesible for anybody.
  2. Encryption & Signature.
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#3361

  1. Describe the concept of public and private key with your own words.
    Private key produces public key. Private key is your secret key no one should have it keep you. Public key is used in public forum such as twitter or blog, etcā€¦

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

  • Encryption
  • Digital Signature
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#3362

  1. Your BTC wallet has two keys. A public key and a private key. Your public key
    can be seen by everyone, in order to receive transactions. Your public key is used by someone who sends you BTC in order to encrypt the information in the transaction, while your private key allows you to decrypt that message. Your public key is derived from your private key.

  2. Public key cryptography can be used in order to verify a sender by tying their public key to their signature, as well as using their public key to encrypt your message/transaction.

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#3363

  1. A private key is generated from a computer assigning it random numbers. A public key is then generated based off the private key. The private key acts as a signature for the holder and keeps the funds or information safe, while the public key is made available to act as verification for the private key.

  2. The 2 use-cases for public key cryptography are encryption, through messaging, or digital signatures, which identify the integrity of the sender

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