Homework on Public and Private Keys - Questions

Blockchain and Bitcoin 101
#3744

1. Private key is a random number generated from your computer to be used only by the person who generated it. Through formula the computer generates a Public Key from the Private Key to be used on the network. So if someone wants to encrypt a message and send it to me can use my public key encrypt the message and then with my private key I will decrypt it and read it.

2. I kind of mentioned it in my answer for question one but basically we can use the public key to encrypt messages and second use case is to use it as a digital signature to prove that WE are the ones who send the 1000 bitcoin out that day :slight_smile:

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#3745

  1. When sending information over an open and unsecured network there is a need for some form of security, This can be realized through the use of private and public encryption. A private key is generated from a computer and used to decrypt information. The public key is derived from the private key and used to send information. The public key can be seen by anyone on the network whereas the private key is secret.

  2. Encryption for network securityā€¦as aboveā€¦not used in Bitcoin.
    Digital Signatures - verifies who sends a particular message over the network. The private key is used to sign the message. The public key is derived from the private key. A legit public and private key pair is a legit bitcoin address. This is a one way transactionā€¦a private key can not be found via the public key.

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#3746
  1. A private key is a random generated number used to encrypt messages, only you have access to this. To receive messages you have your public key which is derived from your private key that everyone can see and send messages to. No one can read messages sent to you without your private key. There is no way to work out a private key from a public key
  2. Encryption and Digital Signatures
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#3747
  1. Describe the concept of public and private key with your own words.
    a private key is a number generated by your computer in order to verify your identity or the integrity of your message. This number is secret and kept secure with the user. The public key is a number created via a function from the private key number, which is then shared with the world. it is used to recieve encrypted messages or verify your identity in transactions.
  2. What 2 use-cases can public key cryptography be used for? Encryption and digital signatures.
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#3748

Public & Private Key Cryptography

Public and private key cryptography is used to send messages, information, data, show and transfer proof of ownership of an asset securely and privately in an open unsecured channel. I have a Bitcoin wallet and use my private key to send BTC. I happily share my public key to receive BTC. It is impossible for anyone to figure out my private key because of hash function SHA-256.

2 use-cases public key cryptography be used for are 1) encryption to send a message, information, money privately. 2) Digital signatures to identify who a message is from and verify that it is actually that person who sent it.

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#3749

1- Public key is derived from private key to verify a transaction publicly.
2- Encryption and digital signatures. This eliminates third party trust on a decentralized ambient and enables to raise the trustworthy in a specific network.

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#3750
  1. A private key is used to generate a public key which can be used by others to encrypt messages that are sent to you. You can then use your private key to decrypt them.
  2. Public key cryptography is used to send encrypted messages and to digitally sign messages.
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#3751
  1. Describe the concept of public and private key with your own words.

A private key is used to sign and decrypt messages and something that you only have access to. The public key is derived from the private key and is open for everyone to see. The public key can be used to encrypt messages that your secret key can then decrypt.

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

Encryption and Digital Signatures

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#3752

  1. Describe the concept of public and private key with your own words.
    Used for security and identification in the blockchain. Private key is a random number generated by your computer and public key is derived from it.

  2. What 2 use-cases can public key cryptography be used for?
    Encrypting messages so only the wanted receiver gets the info. Sending and receiving bitcoin payments.

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#3753

  1. Describe the concept of public and private key with your own words.
    Private key is a random numerical data which is for personal use and generates a public key which is available to be viewed by anyone in the network. These 2 keys can generate security in terms of verification and transference of information

  2. What 2 use-cases can public key cryptography be used for
    For encryption in which an encrypted message using the receivers public key can be sent to the receiver and through the mathematical relation between the public and private key of the receiver, the user will be able to decrypt and view the original message.
    As for digital signature, the sender can send their message signed with their own private key to the receiver. The receiver can combine the message signed from the sender and the senderā€™s public key to verify the authenticity of the message being sent by the original sender

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#3754

  1. Private keys are not to be shared. If someone has your private key they can access your money. Public key is shared with others and is a one way of someone sending you money but cannot take from it. Needs to be instigated by you. In the early days Bitcoin addresses were your public key but now they added a layer so that it is a separate address from your public key.
    Impossible to crack.

  2. Digital Signatures and Encryption

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#3755

  1. Private keys are generated and kept by the original owner in secrete. From that private key a public key is derived to allow for receipt of encrypted information, messages funds etc from other parties. Once recieved the owner of the private key can decrypt said information funds etc using the private key.

  2. Encryption and signatures

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#3756

  1. public key is visible to everyone, they can use it to encrypt and send messages to me. Private key I keep safe and private, and I use it to decrypt messages send to me that have been encrypted with the associated public key. The public key is generated (derived) from the private key, but this process canā€™t be reversed. (i.e. the private key canā€™t be derived from the public key).

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

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#3757

1- Private key is a large complex string of numbers that are private to you, where you hold your BTC etc. the Public key is long string of numbers derived from the private key. There is no way to get the private key by having the public key.
2-Encryption and digital signatures

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#3758

  1. Public and Private keys are generated through algorithms.
    The algorithm takes the randomly generated Private key to generate the Public key. The public key cannot be used to determine the private key, but the private key can be used to verify the validity of the public key.

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

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#3759
  1. The concept of the public and the private key is the way transactions and information are encrypted for safety and security purposes. The private key is the key that only the owner has access to it while the public key is used by people that engage in an exchange of data with the sender to decrypt information.

2.Public key is used for cryptography and digital signatures.

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#3760

  1. Your private key is essentially your PIN that grants access to usage of your coins via application of digital Signature(sending coins). Whereas your public key is a separate number derived from your Private key(and linked to) that you can give people to send you coins. Your private key(a.k.a. bank account number) cannot be determined via the Public key.

  2. Digital signatures and Encryption of keys (extra step, generating public trans code, has been applied after Public Key for added security)

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#3761
  1. The Private Key is a very long random number (generated by your computer) used to sign and decrypt messages. The public key is derived from the private key it is used to encrypt messages.
  2. Encrypt messages and digital signatures.
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#3762
  1. Describe the concept of public and private key with your own words.
  • Private key - generated private number to receive information that is not available to others, private key is available only to the person that generated it, secret key
  • Public key - generated from private key, number can be shared and be available to others, yet again, it is not possible to go from public key to private key, way way function
  • Anyone can encrypt the message with public shared key but only one person can decrypt the message with private key
  1. What 2 use-cases can public key cryptography be used for?
  • Encryption
  • Digital signature, identification
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#3763
  1. public key is a way to send a encrypted message but the private key is needed to decrypts that message.
    2 the 2 uses cases are; (1) encryption (2) digital signatures.
    Digital signatures is btc use case, for verifying who sent the message as the public key is being created from the private key which create the btc address.
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