Homework on Public and Private Keys - Questions

Blockchain and Bitcoin 101
#363
  1. A public key is what the person that I am transacting with needs in order to send me bitcoin. My private key, as the name suggest needs to be kept private and not shared with anyone as if anyone else has access to it, they will also have access to the Bitcoin on that address. From the private key we can generate a public key, the opposite is not possible as it is a hash function.

2.It can be used to encrypt messages so only the participants can decrypt it. Other use-case of public key cryptography is digital signatures.

#364

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

A private key is a randomly generated number which is then used to generate a public key. It is not possible to derive the private key from the public key.

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

The two use case are:

  • Encryption: Person A sends message to person B. Person A uses public key of person B to encrypt the message. Only person B with its private key can decrypt the message of person A.
  • Digital signature: Person A signs a message with its private key. This creates a digital signature. Digital signature is not the same as private key. Person B who receives the message can verify the digital signature by using the public key of person A.
1 Like
#365

A private key is generated by a computer creating a large random number. From the private key, we can generate a public key. We can use the public key to verify ourselves as the sender of a message or a funds on a crypto currency network. By using a recipient’s public key, we are able to encrypt a message that only the intended person with the corresponding private key can decrypt.

  1. Encryption
  2. Digital Signature
1 Like
#366

  1. Your private key is random number of an astronomical high range of possibilities. It is used to generate a public key (which in turn creates BTC addresses), and to sign messages or transactions.

  2. Private digital messaging and Bitcoin transactions.

#367

  1. Your Bitcoin is stored on a wallet. To be able to send or recieve bitcoin you need a private key and a public key. The public key is generated out of your private key that is any sequence of numbers you choose. It is impossible to extract your private key from your public key. So the public key is the adress to your wallet. In order to access your own wallet you need to know your own private key. If you loose that your bitcoins are gone. The private key is your digital signature on the blockchain and proves that you are the owner of the bitcoin. This is recorded on the blockchain.

  2. Encryption and digital signatures.

#368
  • Describe the concept of public and private key with your own words. I can generate a Private key that I will store and keep to myself; if I lose the private key I lose my coinage. I can then generate a Public key that is generated by the Private key using an algorithm. The public key :old_key: can be used to send me assets and can be known to anyone. You cannot find the Private key given the Public key.
  • What 2 use-cases can public key cryptography be used for? Encryption and digital signatures.
#369
  1. Describe the concept of public and private key with your own words.

These keys are used to absolutely identify yourself as a user, to verify a unique signature, and also encrypt and decode private messages to secure a private conversation. You are given a randomly generated private key which is completely unique number. This creates also your public key. This is a one-way function; you cannot gain a private key through a public key. You receive with your public key, and decode with your private key.

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

Encryption (privacy)
Digital Signature (Identification/verification)

1 Like
#370
  1. Private key is a random number and from this PK your public key is created. Private key is secret and public is to be used to send transactions
  2. Sending messages/crypto to one another
1 Like
#371

  1. Private key held by owner and should not be shared. Public key generated by using the private key, however the public key can then be shared with anyone.

  2. The message receivers Public key can be used by anyone to encrypt data so that only the owner of the associated private can decrypt the data. Second use case, digital signatures, a private key can be used to sign a message ( even though message itself can remain clear ), the receiver can then verify that the message did come from correct person.

1 Like
#372

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

The public key helps identify the sender/recipient and can be accessed by other people.
The private key, however, creates a unique digital signature that is unforgeable. This must be kept secret; if you lose it, you lose access to all of your cryptocurrency. The public key and private key are linked together by a signature algorithm, which is a mathematical process that helps create them.

  1. What 2 use-cases can public key cryptography be used for?
    Ans.
  2. Encryption
  3. Digital Signatures
1 Like
#373

  1. My private key is used to generate a public key to which people can use to encrypt a message that can only mathematically be solved if my private key was used in the formula aka i open the message.

  2. encrypt messages on the deep net to buy from dark markets on tor network. Bitcoin digital signature is used by deriving a number to which is sent with the transaction to know who sent that bitcoin(which also has the public key of the receiver).

Does anyone proof check this? what if im talking gibberish? id be nice to know im wrong or right :S-

1 Like
#374

  1. A private key is a randomly generated number that must be kept secret. A public key is derived from the private key but it is not possible to extract the private key from a public key. A public key can safely be shared with the public A message that is encrypted using a public key can only be deciphered using the private key.

  2. Encryption and Digital Signatures are the two use cases.

1 Like
#375

[quote=“ivan, post:1, topic:8431”]
Homework on Public and Private Keys - Questions

  1. A Private key is a unique random combination of numbers which can access a specific crypto wallet. It cannot be shared as it opens the access to my wallet and if stolen, the thief can access my wallet. The public key is generated from that private key throughout a hash formula and it is a pubblic series of numbers and letters who can be shared with anyone and can be used to encrypt messages you want to send to that person. Differently the private key can be used to sign private message.
    It is always possible to de-encrypt the message knowing the private key even tough if it was used a private key.

  2. Public key cryptography is used for:
    1 .Encrypting messages. When a sender use it, he is absolutely secure who is sending the message to.

  3. Generating a Bitcoin address that can be used to be send the money with the absolutely certainty of the wallet which they will be sent to.

1 Like
#376

  1. Public and private keys are used in communicating with a 2nd or 3rd party. Public key encrypts the message and the private key decrypts the message on the receiving side.

  2. Digital signatures and transferring a message or money

1 Like
#377
  1. Describe the concept of public and private key with your own words.

Both are used in Encryption and Digital Signatures. Private key is generated from your computer and as the name says its private. You have to keep it secret in order to have a meaning in using it correctly. Public key is generated from private key. And it is one way generated. That means that you cannot generate (know) private key from only having a public key data.

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

Public key is used in encrypted messaging systems and in generating the Bitcoin address (digital signature).

1 Like
#378

1 Private Key and public key are a part of encryption that encodes the information. Both keys work in two encryption
systems called symmetric and asymmetric. Symmetric encryption (private-key encryption or secret-key encryption) utilize the
same key for encryption and decryption. Asymmetric encryption utilizes a pair of keys like public and private key for better security where a message sender encrypts the message with the public key and the receiver decrypts
it with his/her private key.

2 send money and email

#380

You seem to understand it.
If you want more information in dept about public /private key cryptography watch these videos:

Asymmetric encryption (simply explained)

Lessons - Keys and addresses in Bitcoin (in dept)

Bitcoin Digital Signatures (in dept)

#381

The Private Key is the identity of your wallet, in the situation of crypto, that needs to be known only by the user of the wallet.
The Public Key is the identity of your wallet that is accessible to all the users of the blockchain.

Though Hash Function you will obtain the Public Key (Hash Value) by introducing the Private Key (Input)

a) Creating Crypto Wallet
b) Receiving crypto transactions by comparing the Signature and Public Key of the Sender
c) Encrypting information

1 Like
#382

Homework on Public and Private Keys - Questions

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

A private Key is generated by our computer in order to make it possible for you to encrypt a message of to sign a transaction or message.

This private key generates a public key, everything that gets passed the public key is viewable by everybody (for example a transaction from your bitcoin wallet to someone else’s bitcoin wallet)

You can share your public key to get a message or a bitcoin payment for example.

Your private key is is there to sign a message with your own digital signature, or to be able to view a message that is only designated to be viewed by the owner of the private key.

Better never share your bitcoin private key with anyone, because it will give access to all your bitcoins. Always keep your Private keys safe!
2. What 2 use-cases can public key cryptography be used for?

  • Encrypt a message:
    Public key can be shared with other, so that they can send you a message that only you can decrypt with your private key.

  • Digital Signature:
    When you send bitcoin to someone, you sign it with your digital signature (your private key), but to ensure that no-one will have access to your personal wallet, the private key, generates a public key, that you can share with anyone, so they can see that you are the person who send the funds and not someone else.

the system is secure and nobody can voluntarily guess your private key, as it is a very long sequence of numbers, lettres (capital or not).

1 Like
#384

  1. Public and private keys are used to ensure the confidentiality when sending a message.
    Private key is used by the sender for encrypt the message. This key is strictly confidential and must be kept secret. Public key is used by the receiver to read the message.

  2. Use-case 1: to decrypt a message received.
    Use-case 2: to be able to verify the sender’s ID (digital signature)

1 Like