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Describe the concept of public and private key with your own words.
A private key is the particular function needed in order to decrypt a message received by its public key counter part. The public key is the address anyone can interact with by sending their own data from their own private key. So the private key is the source of the data from the sender, and the public key is the interface used to receive that data which is then decrypted by the receiver’s private key. -
What 2 use-cases can public key cryptography be used for?
Public keys are the address generated by the user’s private key so that others can send that user any sort of hash data, including Bitcoin or a message. It can also be used as a digital signature to confirm ownership of something.
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A private key is kept in secret by a user and the corresponding public key is distributed and publicly available. The public key can be used to encrypt a message that only the corresponding private key owner can decrypt.
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Encryption and Digital signatures
1.) Public and private keys are used as addresses to send or receive messages or transactions.
A.) One use-case would be encryption: to use for sending encrypted secret messages. The other use-case would be used for digital signature: which is basically how you can identify yourself and verify the integrity of another address.
- A public key can be seen by others to verify who sent the message/transaction and to send messages/transactions to like an address. A private key is used to gain access the to the message/transaction from the public key.
- Encryption and digital signature
- Describe the concept of public and private key with your own words.
Each individual will have here own private key which they can create a public key from. meaning people can send the encrypted messafes if they trsndlste there message uding your public key you can unlock using your private key
2. What 2 use-cases can public key cryptography be used for?
Digital signatures & encryption
- Private keys are randomly generated numbers of very high amount that is generated when you want to do a transaction on Blockchain. From this private key there is a public key processed with a formula/program. The public key can be seen by anyone but the private key can only be seen by the person initiating the transaction. To receive the message someone must receive the private key to be able to decode the message from the public key. The process can only work from private key to public key but the message cannot be decoded from the public key backwards to calculate the private key.
- Public key cryptography can be used to encrypt messages and also to attach a digital signature to a transaction or message such as in bitcoin transactions.
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Private keys are numbers generated randomly on your computer. This is then used to generate a public key. It is also unidirectional in that you cannot reveal a private key from someone’s public key.
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Encryption and digital signatures. Encryption involves a sender using a public key of the person they are communicating with on the network which the receiver can then use their own private key to decrypt the message. Digital signatures are used in Bitcoin transactions and involve users generating private keys which then derive public keys and then their bitcoin address. Senders ‘sign’ their transactions which others can verify along with your public key. Receiving funds to your bitcoin address allows you to spend those funds using your private key.
- Describe the concept of public and private key with your own words.
These are terms within the field of cryptography and they are one of the cornerstones upon which the current crypto asset industry is based. A private key is essentially a large random number and a public key (or public address) is an address that is derived from it. Like in case of hash functions, you can derive the public key from private one, but private key cannot be determined from the public address/key.
- What 2 use-cases can public key cryptography be used for?
Public key cryptography is used for encryption, which allows for safer communication and safe storage of sensitive data. It is also used for digital signatures, which is the aspect that relates more to the modern crypto industry.
“Do not spoil what you have by desiring what you have not; remember that what you now have was once among the things you only hoped for.”
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The concept of public and private key is very important for blockchain, without it bitcoin or any other cryptocurrency will not exist. I have learned that with private key you can make public key for public address’s to verify the transfer of coins or messages and the block comes with digital sign. And digital signature is very important for the bitcoin transaction. Public key is derived from private key but it can’t be done in opposite way. Public key is basically encrypted message which can’t be decrypt to find private key.
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- In bitcoin
- In ethereum
Yes, you right we use public-key cryptography in Bitcoin blockchain and Ethereum blockchain but the question is What are the use-cases?
- Describe the concept of public and private key with your own words.
The public key is derived from the private key using the bitcoin hash algorithm and inputting the private key, the public key is the end result of this hashing.
The public key is the key you share with the public and they in turn can use this public key to encrypt data only you can decrypt. The private key is the key you keep private and use to unencrypt messages so you can read them. The private key can also be used as a digital signature for proof of ownership.
- What 2 use-cases can public key cryptography be used for?
a. Encryption - Encrypting messages on a public network
b. Digital signatures – how an individual can authentically be identified and ensure the integrity of transactions.
- Describe the concept of public and private key with your own words.
Public and private keys can be used to send and recieve data securely and to verify who has sent a message.
- What 2 use-cases can public key cryptography be used for?
Encryption and digital signatures.
- Describe the concept of public and private key with your own words.
Private keys are the accesses codes of the public key. Like described private is for yourself, public is for everyone - What 2 use-cases can public key cryptography be used for?
Public key is the key you share with others and they use to encrypt data only you can decrypt.
Sending funds
- Public and private key cryptography as I understand it is a system of security to ensure that when 2 parties are sending information and data to one another it is done safely and in a way that it would be impossible for third parties to interfere in any way to read the data whether that would be a message or something else unless they have someone’s private key.
They are, in a way at least to me, similar to hash functions where the input generates a unique hash function ID that is public for specific data so does the private key generate the public key which is visible to all in order to communicate with the parties that we want to.
- The first use case of public-key cryptography is called encryption. Encryption is used to shield a private message or data from preying eyes and make the message private between the parties exchanging informaiton.
This happens when party A wants to send a message to Party B. Party B creates from their own computer a private key which is for their own eyes only and should be guarded with their life. This private key in turn is generating a public key which can be seen by everyone. Thus, party A, wanting to send a message to party B sends the message using Party B’s public key which upon completing the action, transforms the actual message in gibberish. It can be transformed again into a normal human language only by using party B’s private key.
Sidenote: I sometimes momentarily forget that either that is Party A with Party B or Alice with Bob or me with Ivan it is all done by computers automatically when you set up a Bitcoin wallet address. When you realize that all these complex processes are being done by machines sometimes thousands of times if not millions instead of you, you are grateful for the human spirit of inventing technology.
The second use case is called digital signature verification where we have Party A and Party B again. Party A wants to send a message to party B and we go through the same process. Party A generates and has a private key which they guard with their life - same with Party B, and through that private key they generate a public key. Now, using their private key Party A, is signing the message with a unique signature and Party B, looks at the signature and then looks at the public key of that signature (Party A) and somehow through analysis recognizes that the message came from Party A.
When we send bitcoin we use the second use case as this enables everyone to check that the bitcoin was sent by ourselves and not by any other party.
1. Describe the concept of public and private key with your own words.
- A secure/private way to send information over an open and unsecured network.
2. What 2 use-cases can public key cryptography be used for?
- Two use cases could be private messaging and password protection.
Passwords are usually hashed in the database not encrypted with a private key. The other use case would be digital signatures which are heavily used in cryptocurrencies. 
- A private key is a random number generated from the computer. From this private key, a public key can be derived. The relation between private and public key is unilateral,meaning that you cannot derive the private key from the public one. In Encryption use case, as the name suggests, the public key can be used by anyone to encrypt a message, but only using that particular private key will be able to decrypt the message. When it comes to Digital signatures, the private key is used to sign the transactions. From the private key, the public key is derived and in this case there is also no possibilty to go in reverse (to find out the private from public).
- Encryption and Digital Signature.
Oh ok I see thanks Alko 
- The key pair (public and private) is used to encrypt and decrypt messages or transactions. While the public is available to the public to use for encryption, the private key is stored with the owner in order to decrypt the data received.
- a) encrypt and decrypt messages as mentioned above
b) sign and verify transactions, in this case the signature is made by the private key and the verification with the public key.
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The public key is used to encrypt information the private key is used to unlock that information through decryption.
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The private key can be used to Digitally sign and verify messages or coins. It can also decrypt messages.