- A private key is held only by the owner of a cryptocurrency. The private key is used to create a public key, which can be shared with others. This public key cannot be reverse engineered to determine the private key.
- Two use-cases for public key cryptography:
a. Data encryption
b. Digital signatures
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Describe the concept of public and private key with your own words. A private key is a number generated by your computer that allows you to digitally sign and/or encrypt information that you send to others. A public key is a number generated by your private key that allows others to send digitally signed and/or encrypted information to you.
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What 2 use-cases can public key cryptography be used for? Sending and receiving digital currency and digitally signing/verifying information.
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Describe the concept of public and private key with your own words.
private key is own by the owner whereas public key is advertise to the public. public key is generated by the private key. private key is a random number/words generated by the computer. there is no other ways to revert this step.
What 2 use-cases can public key cryptography be used for?
encryption, and digital signature
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Private and public keys are used for encryption once you generate a private key it will generate a public key, the public key is as the name suggests public, you share this with anyone so they can send you encrypted messages. So that a the message can be verified that it came from that person, their public key will sign the message. There is no way of reversing the process taking someone’s public key to gain their private key.
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Public key cryptography can be use for encryption and digital signatures. If you send a message this way your private key will sign it with a digital signature so the recipient can verify it came from you. In order to encrypt the message you send it using the recipients public key which is the only key that can decipher the message. A bitcoin address is generated by the public key and bitcoin transaction are done this way.
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1. Describe the concept of public and private key with your own words.
The public key is a string of random numbers and can be used by the sender to encrypt a message to a recipient. The public key is shared with “the world” by the recipient but only using its private key can the message be deciphered and read. The private key is made of a long string of random numbers. This private key is a secret key, and must remain known only to the recipient. The key pair is mathematically related so that whatever is encrypted with a public or private key can only be decrypted by its corresponding counterpart.
2. What 2 use-cases can public key cryptography be used for?
A: Encryption and Digital Signatures
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- Describe the concept of public and private key with your own words.
- When you create a digital wallet to store Bitcoin or any other cryptocurrencies, a private key is generated out of a completely random number sequence. This private key is essential for access and protection of your funds, similar to a password or pin # that you would need to access your bank. A public key is then generated from the private key and acts as a visible public wallet that can be shared freely. This public key is now an address where people can send you bitcoin securely, signed by their own private key, or digital signature.
- What two use-cases can public key cryptography be used for?
- Public key cryptography can be used for encryption (used in private sharing of data), as well as digital signatures, which is more common in cryptocurrencies like Bitcoin. The digital signature is used to verify who is sending the transaction and acts as a measure of security in the blockchain network.
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*Describe the concept of public and private key with your own words.
A private key is a random huge number generated by your computer which give you access to your own wallet and from which you can generate a public key to be shared to anyone to receive crypto.
It is not possible to derive the private key from a public key, only the knower of the private key can have access to a specific wallet and sign transactions and create a public key from which your generate multiple public crypto addresses.
*What 2 use-cases can public key cryptography be used for?
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Encription
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Digital signatures
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Describe the concept of public and private key with your own words.
The public key is used to access data encrypted by a private key, but only the private key can manage the data.
What 2 use-cases can public key cryptography be used for?
It can be used as a digital signature for verification purposes, encryption and to generate a Bitcoin address.
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- A private key is a randomly generate number which derives your public key. You can use your private key to sign transactions to verify you sent the transaction. You can derive a Bitcoin address from your public key. Public keys are safe to share with the world whereas private keys must be kept secret otherwise you’re at risk of getting information, currency, etc. stolen.
- Encryption and Digital Signatures, with the latter being commonly used in crypto.
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A private key is a randomly generated number that is for your own private use and from which a public address is derived.
Use cases:
- Encryption: private key which remains private and is used to derive a public address which is in the public domain. Private address cannot be derived from public key (one-way mechanism like a hash function).
- Signing of a transaction.
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- A private key is a very large number generated by a computer, and never shared with anyone but the owner. The public key is derived from the private key. Because the private key is such a large number it is very unlikely that a collision would occur with another private key.
- Public/private key pairs are used for encryption, and digital signatures. In regards to encryption, a sender would encrypt a message with the recipient’s public key, and the recipient would decrypt the message with their private key. In regards to digital signature, a recipient could verify the digital signature of a message using the senders public key.
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First, Private key is generated on our computers, and the computer uses the private key to generate a public key, which can be shared freely everywhere. Then, when we send Bitcoin to a person A, the private key is used to add a signature to the transaction. When person A receives the Bitcoin, the signature along with the sender’s public key is used to verify the Bitcoin indeed came from the correct sender. Private key and Public key pair is very crucial to perform a successful encryption.
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Public key is used for identification and for ensuring integrity of the transactions.
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the private key is a computer-generated random number; a public key is also a number that is generated by function using the private key. The public key can be shared publicly and is used to encrypt messages; the private key can decrypt those messages. The private key should be kept secret at all times.
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it is used for 1)Encryption and 2) the digital signature.
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Hello everyone:)
Describe the concept of public and private key with your own words.
Private key is the key which is kept secret and safe. It’s very important. Both sender and Receiver have their own private key. And in “Public Key Cryptography” a private key generates a public key. So a public key is derived from a private key.
Public key is the key which is basically available to everyone (sender and receiver both). It’s also a large number generated mathematically.
Speaking for example of “Digital Signature”, using a someone’s public key and his signature, we can mathematically verify that this signature was created by the private key of this person (which has generated the open public key). There is no way to go to “private key” from a “public key”. It’s not possible.
What do you think about my answer?
What 2 use-cases can public key cryptography be used for?
- Encryption
- Digital Signatures
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the public key is used to encrypt a message, information, or transaction. Everyone can see the public key, hence the word “public”. The private key is used to reverse the process. Without the private key the encryption makes no sense, is useless.
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Encryption and digital signatures.
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- Private key is random number which is generated by computer. Private key is for yourself only. Public key is generated from private key. Public key is for so someone can send you bitcoin or a message. When you send a transaction you sign it with your private key and it verifies that you really did send something.
- Encryption, digital signature
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Describe the concept of public and private key with your own words.
a private key generates the public key which is seen by everyone.
when a cryptocurrency holder wants to send a value over, they sign with the private key and send to the receiver’s public key. -
What 2 use-cases can public key cryptography be used for?
digital signatures and encryption
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- Public and private keys are a way to encrypt data and also use as a digital signature. The private key generates the public key and can also be used to verify the private key owner.
- Use-cases for public key cryptography are encryption and digital signature / verification.
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Describe the concept of public and private key with your own words.
A public key is generated from the private key of a wallet. The public key is what is used to send information secretly in an open and unsecured communication channel. A private key is used to sign a message or transaction to verify identity. if another person gets your private key, they can sign on your behalf and get access to your wallet and coins. -
What 2 use-cases can public key cryptography be used for?
Encryption is used for sending secret message (encrypted) in an open and unsecured communication channel.
Digital signature is used to verify who sent a message. It enables confirmation of a transaction. The receiver gets the public key and the signature and from there he can verify if those two corresponds to the sender’s private key. It is mostly used in bitcoin.
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Describe the concept of public and private key with your own words.
A private key is something that you (your computer or wallet) can generate, its a very long number. From this private key a public key can be generated. The public key can be shared anywhere, it can be seen by anyone, as its a ‘public’ key. As it was generated by the private key its is uniquely connected to the private key, therefore the public key can be used to verify the private key. However the private key cannot be obtained from the public key, this is mathematically impossible. -
What 2 use-cases can public key cryptography be used for?
Firstly encryption. You can send a message using someone’s public key to encrypt the message and then you can only see the message by using the private key associated with the public key used to encrypt the message.
Secondly Digital signature’s, which is most relevant to bitcoin as this is what is used in BTC transactions. Basically a digital signature is created in conjunction with a private key, the private key then generates a public key in the normal way. This data is used in transactions to correspond to the private keys signature to verify that the data, in this case a BTC transaction, has been generated by you.
This is how all bitcoin transactions are verified. It is therefore important that you keep your private keys safe. Your private key and signature cannot be worked out from the public key as in encryption its impossible however someone can steel your private key and verify your transactions to steel your coins if you allow that to happen.
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