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A public key is derived from a private key, derived from a computer generated random number. Once my computer generates a private key, private to me, it can then generate a public key to give to others for transactions. The private key cannot be discovered from the public key as the process is one-way only. If I lose my private key, i lose access to my transaction.
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The number one use-case for public key cryptography is digital signatures, which verifies who sent a particular message or transaction. The second use case is encryption, which can generate private keys which in turn create public keys.
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- Describe the concept of public and private key with your own words.
-The public key can encrypt data and the information can be shared with other.
-The Private key can decrypt and encrypt private data and is only visible and usable for this who own this key
2 What 2 use-cases can public key cryptography be used for?
- signing transactions, secure messaging, access for more than one person
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Public keys are generated from hashing transactions between users and can be visibile on the blockchain, ensuring transparency.
Private keys are a cryptographic numbers generated from public keys. These are known, and should remain so, only by users. It’s highly improbable that two private keys exist. This translates basically collision resitance and therefore ensures security and utility.
Public keys can be used for encryption and digital signatures. Encryption reffers to encrypted messages that can be decrypted only with the correct private key. Digital signatures ensure the identity of the sender.
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1.Private key is mine and nobody has acces to it but me.Public key is available for everyone to see and it is required to make transactions.
2.Encryption and digital signitures.
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Your public keys are keys that you created through a special formula your private keys. Also, your public keys is for everyone to have. Anyone who have your public keys can not get access to your private keys. Private keys are randomly selected. Your private keys are also your signature keys meaning, you have signed a transaction. If you lose your private keys or someone steals them, they have access to your coins. That’s why it’s important to store them in a very safe place.
Your public keys are used for encryption and digital signatures. It identifies that you are who you say you are.
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create a public key from a private key and use the public key for public transactions (messages) or to digitally verify (sign) that I did something.
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Encryption and digital signatures
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Public and private keys allow encrypted messages to be sent & received over an open network.
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Encryption and Digital signatures.
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Describe the concept of public and private key with your own words.
Public and private keys allow us to encrypt messages through encryption and digital signature methods, so a secure communication is stablished between two people’s computers. -
What 2 use-cases can public key cryptography be used for?
Public key cryptography can be used for encryption and digital signatures.
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With encryption a public key is generated from a private key, which allows a person to do transactions with others without exposing access to their assets.
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With digital signatures, we can verify the identity of a user we are receiving a message from. With his/her private key, a sender can generate a public key and ‘sign’ the encrypted message they’re sending. By comparing the sender’s public key and signed message, the receiver can verify their identity.
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Public keys are generated from a users private key. Public keys can be shared across the web however you cannot determine what the private key is by looking at the public key. It is a one way street.
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Public and private keys are used for two main purposes. The first is to encrypt and send messages or files. If you send a message to someone’s public key, only the private key to that public key will be able to decode the message. The second use case is to digitally sign a message or transaction. This is the main use case for crypto currency.
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Public Key is basically your email adress where anyone can send you encrypted data or transactions, etc.
private key is the password of that adress. But it is basically impossible to decode. -
It can be used to send/ receive an encrypted message or any kind of transaction
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The private key is only for the owner, the public key is for the owner to share with others. Together they are working like an account. The public key works as the account and the private key is like the password. In crypto you’ll additionally have a wallet addresses as an account but this address is made from the public key.
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Public key cryptography can be used to encrypt messages so that only the owner of the privately can decrypt them and besides that it can be used as digital signature where the editor signs with his private key. the receiving address can verify the sending address with help of the senders signature and public key
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In Crypto a private key is generated from your computer and is kept secret. From that private key the computer is then able to generate a public key (this is a one way function so reversing the function will never generate the private key.) which ppl will be able to see and send transactions to.
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They idea behind public and private keys help encrypt data and allow for digital signatures to be on transactions so senders and receivers can verify the legitimacy of the transactions.
cheers
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Question
I just wanna see if i understand :
so if i send bitcoin to someone a version of my private key is used to sign that transaction. the receiver is then able to use my public key to determine(thru some mathematics) that the signature on that transaction was from me. is that correct?
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A concept of public and private keys can be related to email. Where you’re willing to share your email address (public key) for business or communication but you never share your email password (private key)
Of course with blockchain the stakes are higher because you cannot recover or reset password if you lose it. -
Public key cryptography has two major use cases.
Encryption of messages and digital signatures.
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Basically, the nodes need to verify that you are the owner of the private key to be able to unlock the UTXOs and send funds. 
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1. Describe the concept of public and private key with your own words.
The Public Key is for your letterbox, the Private Key is to your front door
2. What 2 use-cases can public key cryptography be used for?
Encryption and Digital Signatures
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- Both are randomly generated numbers, where the public key is derived from the private key in a one-way manner. The private key cannot be derived from the public key. Public key enables private encrypted info to pass through an open public platform.
- Sending info and sending payments.
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your private key is generated to be completely unique and secret to you your public key is generated from your private key and linked to it. you can share your public key and no one will ever be able to get your private key from it as well as being used for a digital wallet where the private key is needed to access the funds in the wallet. it can be used to encrypt messages the messages are encrypted with the public key and decrypted with the private one
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- A private key is a randomly generated large number which is then mathematically processed in to a public key. The private key cannot be derived from the public key, but anything encrypted by the public key can only be decrypted by the private key, and NOT the public key.
- For encrypting data and digital signatures.
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- The concept of a Private key - consists of a unique sequence of randomly generated numbers and it also necessary to verify a digital signature for encrypted data.
Public key - a randomly generated sequence of numbers in correlation to the original private key. This key is visible to all on a public networks and can only send encrypted information.
2.Encryption and Digital signatures
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