The public key is used to encrypt information that is being sent and the private key is used to decrypt the information that is received. When someone makes a transaction a relationship forms between their public key and the recipients private key so only the owner of that private key can decrypt and therefore receive the transaction.
Public key cryptography is used for encryption and digital signatures.
A private key is needed to generate an encrypted public key. This is one way only. A public key cannot be reversed back into a private key. However, a private key can be used to verify who signed the public key thereby creating a digital signature.
First case use for a public key is for encryption. As explained above, a public key derives from a private key which is used to verify who sent it. The second case use is to digitally sign a transaction to confirm it.
Private key uses encryption in digital signatures to identify integrity of user sending a message. Public key are used to communicate with other uses on the internet.
Public key cryptography uses 2 different keys a combination of a private key and a public key to assure confidentiality of data storage and electronic communications.
The concept of a private key and public key is to be able to have everything you do be recorded while simultaneously keeping you secured
Public key being to send information and private key being to decode the information from the public key
Encrypting and digital signatures
Both are used and meant for sending data over unsecure connections.
First the public key is generated and may be known to others. In a one-way mechanism, the private key is derived from the public key â this private key is to be known by the owner exclusively.
Securely sending data â messages or fundsâ using digital signatures and encryption.
The public key is open for anyone to see and they can use it to send you an encrypted message. You can then use you private key which btw only is visible for you, to decrypt that message.
They can be used for encryption and digital signatures.
1-) Describe the concept of public and private key with your own words.
= Computer generates a private key and public key is generated by the private key. Private key is used to decrypt a message and send a message with a digital signature. Public key is used to encrypt and receive a message.
2-) What 2 use-cases can public key cryptography be used for?
= Encrypt a message and receive a message. Using the public key and the digital signature you can mathematically verify the private key of the sender.
A private key is a numeric number (52 digits), which is to be held private, kept safe and not shown to anybody. It is a unique combination of numbers, from which another unique (collision resistance) address is derived, which is called the public key. As the names says, this public key can be shared with anybody. It is not possible to find out about the private key by having the public key.
The first use-case is about encryption. The sender of the message uses the public key of the receiver in order to encrypt its message. In that way, nobody but the receiver can decrypt this message with its own private key.
The second use-case called âDigital signatureâ, which is used to transfer crypto-funds from one wallet to another, is to sign a certain transaction/message. Meaning that the sender is transferring its message to the receiver by signing it with its own private key. That way, the receiver can verify the sender.
Describe the concept of public and private key with your own words.
The public key is like an inbox and a private key is the only access for any specific public key âinboxâ.
What 2 use-cases can public key cryptography be used for?
Sending delicate information to somebody or sending money to someone securely and in a private manner.
Using one-way functions you can generate a private key from a computer or formula, then derive a public key from that private key. That private key can be used to decrypt encrypted messages and sign transactions.
The two use cases public key cryptography can be used for are encryption and signatures.
Private key a random series numbers generated by your computer that only you know. A public key is derived from the private key. A person can use your public key to encrypt a message, to decrypt a message you can use your private key
Encryption of a transactions or of a message.
Describe the concept of public and private key with your own words.
The public key is public is open for anyone to see in the system. The private key is stored on the users device and its used to sign transactions or decrypt data
What 2 use-cases can public key cryptography be used for
a public key can be used to receive money or send money a a public key cryptography can also be used to encrypt information
Private key is a random number. Very random that collision is nearly impossible. Private key generates public key using a function. Private key is something you keep it secret, and public key is something you show it to the public.
There are two use cases of public and private key cryptography. The first one is for encrypting a message. The sender uses receiverâs public key to encrypt the message. The receiver decrypts the message by using his private key. The message cannot be decrypted without the private key. The second use case is for verifying a message. The sender uses his private key to create a digital signature on top of the message. The receiver uses the senderâs public key to verify that the message is actually from the sender.
Basically, these 2 keys are what you use in order to be able to receive and send transactions in the blockchain. The private key is a computer randomly generated number, that as the name indicates, you´re supposed to keep private, and from that number using a one way mathematical equation, you generate a public key, which can be shared, and is what people use to send you BTC and to verify the identity of the receivers and senders.
Public key cryptography can be used for encryption and digital signatures. In the crypto space we mainly use the second use case. Encryption allows for people to send messages to each other in an open communication channel privately and Digital signatures are used to verify the identity of the wallet who is sending or receiving BTC.
Homework on Public and Private Keys - Questions
A public key is generated from your private key if someone sends you an encrypted message using your public key only you can decrypt it using your private key.
Only a private key can generate a public key, not the other way around.
One use case is if some want to send you an encrypted message they will use your public key so only you can read it using your associated private key.
Another case is you want to verify who send you a message or a transaction it has to be signed by the sender using her or his private key.
Which you can compare using his or her public key and confirm if the sender is associated. by comparing the signature in the transaction with the public key of the sender.
Concept/Idea behind a Public Key, is that we have a way to interact with other people on the network openly. Public Keys are generated by using the Private Key as a scalar is simply an extremely large and highly random number
The idea/concept behind a private key, is to generate an extremely large and highly random number.
Private and Public Key cryptography derives its security from the Discrete Log Problem, given the starting value and the end value, itâs difficult to deduce the scalar (Private Key)
Trap-Door Functions are functions that cannot be reversed, itâs easy to create the Public Key given the Private Key but extremely difficult to calculate the Private Key from the Public Key
Mental Hook-Blender.
2 use-cases can public key cryptography be used for?
Two of the best-known uses of public key cryptography are: 1 Public key encryption 2 Digital signatures.