Homework on Public and Private Keys - Questions

[scottnik8]

1. A private key is a large random number (generally generated by a computer). A corresponding public key is generated through a cryptic function/formula from this private key. Anybody can use a public key to encrypt a message that would be only accessed by the holder of the corresponding private key. A public key allows you to receive encrypted messages which can only be decoded by your secret private key. Public key is for encoding…private key is for decoding.

2. 2 use-cases that public key cryptography can be used for are encryption and digital signatures.

[Rhonda]

1. The public key is the “address” you provide to the public. Similar to a Web Ex meeting Number. The private key is a large random number that is known to you only.
2. Encryption and Digital signature

[BTCHustler]

Public key are linked together through transactions or encrypted messaging. The sender of an encrypted message will have a public key when sending a message and only the receiver can view the message with his/her private key. A public key can not decipher an encrypted message.

When making transactions with Bitcoin. Your Bitcoin wallet will have a private key. The private key will then generate a public key which will also create a Bitcoin address. Now you can send and receiver Bitcoin.

2. Digital Signatures and Encryption

[Crypto_Jeff]

@ivan

• Describe the concept of public and private key with your own words.
• What 2 use-cases can public key cryptography be used for?

1. Your private key is kept private. Your public key is shared with the Public.
2. a) Encryption, like encrypting a message.
   b) Digital signature, to verify who sent a message or initiated a transaction.

[Jacob_Lindenmuth]

1. A private key is a large randomly-generated number that is kept private and is used to sign and send transactions on the Bitcoin network. Your private key is used to generate a public key that can be shared publicly to receive funds on the Bitcoin network.

2. Two use cases that public key cryptography can be used for are encryption and digital signatures.

[Aaron_Lyndon]

1. Describe the concept of public and private key with your own words
   a) You encrypt information with the public key and it can only be decrypted and information read if you have the private key.

2. What 2 use-cases can public key cryptography be used for?
   b) Bitcoin transactions and encrypting messages or signatures.

[Fabrice]

@Busaboy

A PRIVATE Key is a random number generated by a computer (or wallet etc) that in turn is hashed to get your PUBLIC Key. You can give out your PUBLIC key in order to receive data etc. A PRIVATE Key can never be discovered by PUBLIC Key.
A PRIVATE Key can be used to sign a message / data just link a digital signature.

A public key is not just a hash of the private key.
https://forum.toshitimes.com/t/homework-on-public-and-private-keys-questions/8431/412?u=fabrice

[Fabrice]

@LukeM

Private keys are radomnly generated numbers unique to an individual. They are used (via hash functions?)

To calculate public keys from private keys, we use Elliptic curve cryptography (ecdsa)
https://medium.com/coinmonks/private-and-public-key-cryptography-explained-simply-4c374d371736

[Tayowulf]

1. A private key is made, using this private key a public key is created. A person can encrypt an email with the public key and the receiver uses their private key to decrypt it (as long as its the corresponding private key).

2.The two use cases public key cryptography can be used for are encryption and digital signatures.

[Rainer]

1. The private key has to be kept secret as the public key derives from the private key. Only you
   should know your private key so to be the one that has access to the wallet or data that you
   encrypt. Public key is for everybody who is interested to send something to you.

2. first to encrypt messages via the public key
   second to verify a transaction via the digital signature that is derived from the private key and
   mathematically shown in the sent public key.

[vth89]

1. The private key is a randomly generated number. The public key is a derivative of the private key.
2. In encryption and digital signature

[ivo]

1. Private key is a random number and the public key is based on the private key. They are used for verifying and signing transactions.
2. Encryption and digital signatures

[bktv]

1. A randomly generated # representing another randomly generated #, or a public/private key pair, creates an alternative to traditional custodial banking account structures by putting responsibility and control back in the users hands, combined with an immutable record to create secure, fairly cheap, quick, trustless, non-custodial peer-to-peer transactions.

2. Digital signatures and encryption.

[LukeM]

Thanks Fabrice. Good article, helped clear things up.

[never_settles]

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

1. Public and Private keys are two separate keys that encrypt and decrypt information between the users.

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

2. They can be used to verify the signature of the person and receiving a transaction.

[Mesiah]

private keys are the transaction thatis going to be sent verified through the public that the transaction has happened then opened by the recipient

making sure only the parties with acces to the key recieves it and showing proof of the transaction

[jacksenn]

1 public key is generated with the hash function based on private key. The public key is open to the world. Its impossible to get the private thru the public key. If you lose your private key you lose the coin.

2 To sign a transaction and to recieve a transaction.

[MattB]

1. The public key is used for encryption to convert the message into cipher text.
   and the private key is used by the recipient for decryption of the cipher text to read the
   message.
   2 Two uses of a public key cryptography can be used where the recipient can encrypt a
   message and secondly a public key is used as a digital signature.

[AdrianF]

1. Private Key is a random number that your computer produces. Public Key is produced from the Private Key and is used to decipher the data. You can not guess what the private key is from knowing the public key.
2. Encryption and Digital Signatures.

[Blockchain4MiAm]

• Describe the concept of public and private key with your own words.
  A private key is a randomly generated set of numbers and letters that is used as a ‘key’ to unlock a digital wallet. A public key is a hashed version of your private key, one may share their public key publicly without worry of anyone stealing their private key, seeing as hash functions may only go from input to output and not the reverse. All messages encrypted with the public key may only be solved with the its original private key.

• What 2 use-cases can public key cryptography be used for?
  Public key cryptography can be used to encrypt data and create digital signatures that can only link to the original private key.