- Describe the concept of public and private key with your own words.
Private keys are yours and yours only. Your private keys should be kept secure. Private keys generate public keys which are public to everyone. When someone sends you a message or money, only your private key can be used to decrypt that message. Public keys can’t be used to decrypt private messages.
- What 2 use-cases can public key cryptography be used for?
A) Encryption- To send a message to someone over an open , non secure network, you can encrypt your message to someone.
B) Digital Signatures- For Bitcoin transactions, you utilise someone else’s digital signature and their public key to verify that they wanted to send you a transaction.