- Public key is a cryptographic code that allows receiving cryptocurrency transactions. It is paired to a private key, needed to unlock and prove ownership.
It can be a 256 char long binary code. 64 digit hexadecimal code, QR code, mnemonics phrase. - Sign transactions, unlock ‘messages’.
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1- Private key is a random number that generated by you or your computer in fact. Only you must see this one. This is your digital signature, and decryption tool for encrypted messages.
Public key is derived from the private key you created. This can be shared publicly.
2- Public key can be used for encrypt a message, and also can be used for verifying a sender. Another use of a public key is creating a Bitcoin address.
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A public key and private key are an identifier for a particular wallet. A private key is generated from a random large number, by which can then derive the public key through some function. The private to public key function is unidirectional in that the private key can not be derived from the public key. The private key holds a specific data set (for example bitcoin ownership). A public key is the public identity, by which people may transfer data to the public key.
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Public key cryptography can be used for encryption and digital signatures.
- An message is encrypted by using the receivers public key. Once the encrypted message is received, only the private key of the receiver is then able to decrypt it.
- A digital signature may be left on a message to prove that the message is coming from the sender that they say they are. A digital signature is formulated from the sender’s private key. Only the sender from a certain public key is able to make a particular digital signature, affirming they are the legitimate sender of the message.
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Private key: Only I should know it
Public: Everyone can know it and use it. It is derived from the private key, but can’t is traced back to the private key.
2. 1. Encryption: Someone takes my public key and encrypts his message with it. When he sends me the encrypted message, I can encrypt it with my private key.
2. signature: Every message I send is signed by my private key (not the key directly ofc) and they can check it against my public key, to verify it was from me.
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- everyone sees the public key which creates the signature. from the public key you generate the privat key which is the transaction.
- first used case “encryptionis” is common in classic developing. second used case “digital signature” is used in the space for transacting currencies - through first the privat key (noone sees it) then generated to public key which signs by private and confirms transaction by the public key.
hope my understanding was easy to get… 
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Describe the concept of public and private key with your own words.
Sending a message to someone through the internet can be easily read by everyone when using a “public key”. This public key is a randomly generated set of numbers & letters. For this key a “private key” is generated, used like a signature and attached to secure information reserved only for the recipient. Because of the insurmountable variety of ways these symbols can make, it is “impossible” to decipher the private key that is attached to a public one. -
What 2 use-cases can public key cryptography be used for?
1) Sending encrypted messages.
2) Signing messages digitally.
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- Describe the concept of public and private key with your own words.
You get a private key from encryption and a public key from a private key. You can send an encrypted message through them. - What 2 use-cases can public key cryptography be used for?
digital signatures and identification.
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Identification uses digital signatures. The other use case would be encryption.
Private key is a random generated number that allow you access to redeem the cryptocurrencies. Public key is a random number generated from the private key, and that is used to receive crypto.
Private key is your unique id in a blockchain, and your signature for transactions.
Encryption and digital signature
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- The public key can be seen by anyone, while the private should only be held by the owner of the key that a computer randomly generates. Private keys can be used to sign, encrypt, and receive the contents on public keys.
- Can be used to send and receive information while hiding a own’s private key from the public. Can be used for digital signatures when verifying with private key.
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- Basically public and private keys allow people to send confidential messages to each other, or verify that a public message is from the right person. You can derive a public key from a private key but you can’t figure out a private key from a public key, making encrypted messages impossible to be read if you don’t have the recipients private key.
- The two use cases are encryption, sending messages that only the sender and receiver know what they say. and digital signatures, which allows one to verify that a message is from a specific person.
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- Describe the concept of public and private key with your own words.
Private key is a random set of numbers generated by a computer that only you have a copy of. Public key is generated from the private key and encryption can only be decoded when you can access to the private key.
- What 2 use-cases can public key cryptography be used for?
Encrypting messages and digital signatures
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Describe the concept of public and private key with your own words.
–> private key generates a one-way function to create the public key. You cannot derive the private key from the public key but you can derive the public key from the private key. -
What 2 use-cases can public key cryptography be used for?
–> to sign documents and to encrypt documents (confidentiality & integrity)
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Describe the concept of public and private key with your own words.
Public key is a string of numbers and letters which is open to the public and someone can send funds (ETH, BTC or XRP) to this address.
Private key is also a string of numbers and letters, but which is hidden from the public. This private key you use to sign transactions so that the receivers knows who he/she is dealing with. -
What 2 use-cases can public key cryptography be used for?
Encryption and digital signature
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- Describe the concept of public and private key with your own words.
In Bitcoin mostly Digital Signatures are used.
A private key is a long, random number generated by a computer and needs to be kept safely. A public key can then be generated with the help of the private key. People can use the BTC adress, generated by the public key, as a destination to send BTC to whomever the key belongs.
It is one way communication.
- What 2 use-cases can public key cryptography be used for?
Digital Signatures &
Encryption
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Thanks, I’m just getting into this and appreciate any input. How are you finding the course?
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- Public Key and Private Key are both used for Encrypt and Decrypt files protect by a sequence of random numbers, The private key is a secret key that can be shared only by the permission of the owner while the public key can be share everywhere on internet.
2.Sending Messages, funds or any kind of files.
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I really like it I must say… I did a couple of courses at the Blockchain Council and they really sucked compared to here. I think we are in good hands.
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1: A private key is a randomly generated number that is unique to the user & gives complete control over the user’s data (Wallet). If anyone apart from the user is given access to this private key then they also shall have complete access to the user’s wallet.
A public key is a unique number derived from the user’s private key, this is used publically when sending & receiving encrypted data in the wallet, however transactions still need to be ‘digitally signed’ by the user’s private key.
2:
-Encryption of messages
-Digital signatures with combination of the private key.
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- Public keys are shared and a private key is secret and only you keep a copy. Private keys are used to create digital signature on Bitcoin.
- Sending messages and encrypting docs.
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