Homework on Public and Private Keys - Questions

Blockchain and Bitcoin 101
#445

  1. they work kinda like a safe deposit box with your key being the private key and the other key you can give to whoever.

  2. block chain, and secure communication (like PGP)

1 Like
#446

1 Private key is used to decryot the message received via the public key from the wallet. Public key is dreived from the private key (one way only).
2 uses for cryptocurrency and digital signatures

1 Like
#447
  1. Private key should be kept secret with its owner while anybody can see the public key generated from that private key.
  2. Case 1: to generate a wallet address (in Bitcoin)
    Case 2: to check a transaction signed by private key
    Case 3. to encrypt a message
1 Like
#448

  1. The private key is a randomly created number which you need to keep secret. The public key is derived from the private key and is used to share publicly.
    Your Public key can be used by others to encrypt messages to you. It can only be decrypted it by using your private key.

  2. Encryption and Digital signatures

1 Like
#449

  1. A private key is a random sequence of numbers generated by your computer which becomes your wallet. A public key is generated from your private key and is what is used to for receiving transactions on the network. The private key is your signature and is used to confirm your transaction to be from you.

  2. Two cases it can be used for is both sending and receiving transactions

1 Like
#450

  1. The public and private key pair is used in cryptography to verify transactions (identity, integrity) mathematically and digitally. Public key is available for all to see, but the private key is only known to its holder. Public key can be derived from the private key, but not the other way round.

  2. Encryption: Public key is used to encrypt a message and since the public key in question has a private key pair, the transaction can be verified.

    Digital signatures: Private key is used to sign a transaction. This can not be seen by the
    “spectators” in the network, but because of mathematically comparing the public/private
    key pair, the transaction can be verified.

1 Like
#451
  1. Private key is generated by a random number and its keep in a safe location with this private key a public key its generated and its the one your share to do transactions.
    2)Encryption its use for messages. Digital for transactions
1 Like
#452

1.) public key, hello world send me money! private key i have access to my monies and no one else.
2.) encrypted data transfer, send money.

2 Likes
#453

  1. A private key is a random number generated by your computer. This private number (key) is your identity and should never be shared. A public key is generated by hashing your private key. This public key can be shared with the world. Any messages sent to the public key can only be decrypted by someone in possession of the private key.

  2. Encryption and digital signatures

#454

  1. first you need to generate a random large number that you use as the private key, from this private key you can generate the public key.
    due to the math involved it is impossible to get the private key from the public key this is the security factor in this concept therefore you should never let anyone know your private key otherwise your public key is unsafe for any usecase.

  2. first use-case: encryption
    If someone wanted to send you an information trough an unsecure channel, he can use your public key to encrypt his information and send it to you. the only possible way to make this information understandable again is by using the right private key from the used public key which is in this case your private key. this is extremely safe as long as your private key is only accessible by yourself.

second use-case: signatures
with signatures you can always check if an information is really from the right owner of an address.
Using the private key and a special mathematical operation any message can be signed and then be checked for authenticity using the public key from the person who you thought you got the message from.

1 Like
#455

  1. A private key is for you to keep secret and for you only. It is generated by your computer and is a totally random number. A public key (derived from one’s private key) can be shared with the world.

  2. You can encrypt a message using someones public key. This person can then decrypt this message using their private key. It is also used to digitally sign messages, so that the recipient can verify that it is from you. This is used in bitcoin when you send bitcoins, you sign the transaction with your private key. Hereby everyone else can see that is was actually you that sent the money.

1 Like
#456
  • Public Key: a number derived from your private key that can be share with anyone
    Private Key: a random number which is top secret =)
  • To receive cryptos or as a signature verification.
1 Like
#457
  1. The private key is an unique random number from which the public key is generated through a special mathematical formulae. The public key is at the core of the blockchain and the cryptocurrencies.
  2. For encryption - to send something private in an open environment and thus to blind the spectators; For decryption - which is the most used from both, in order to identify/verify the sender of a particular message.
1 Like
#458
    1. The private key is generated by a random number. Is really IMPORTANT to store your private key safely. Private key is the unique “fingerprint” that is able to decrypt the message or transaction sent specifically to a particular user. Only who owns the private key has access to the asset.
      The public key is derived from private key. The opposite way is not feasible. This is public as the name suggests. Can be used to encrypt a message towards someone in order for the public not to see the message.
    1. Encryption:
      Online payments : PCI-DSS standards mandate payment card data (stored as well as in-transit forms) to be encrypted using algorithms such as AES-256.
      ’
      Data in the cloud : In public and hybrid cloud models, your data resides at a third-party data center. Any attack on co-tenants can result in your data getting exposed too. Encrypting your data in the cloud prevents hackers from being able to read it correctly. Your cloud provider will also not be able to pry on your data if you alone have the encryption key. Check with your cloud provider to understand what security measures it offers.
      ’
      Databases : Encrypting databases help to restrict external hackers as well as insiders from seeing specific organizational data. Transparent database encryption (TDE) is a popular database encryption technique that helps to encrypt all “data at rest” in one go.
      ’
      Emails : Email encryption helps to protect sensitive information sent through email channels. Public key encryption methods along with digital certificates are usually the methods used for securing email communications.

  • Digital signature: BTC, blockchain, uses public encryption to digitally signature the users blockchain address. This blockchain address is generated from a combination of the users private key & public keys. To send/spend BTC the user digitally signs the transaction with aid of their private key.
    ’
    Sometimes you need proof that the document came from you and no one has tampered with it since you sent it. Digital Signature with your SSL Certificate fills the bill.

1 Like
#459

1.) Public key is like your email address that is public-facing. Your private key is like the password to your bank account.

2.)

A.) Digital signatures could be used as a digital notary.
B.) Recording a student’s educational information on a public ledger for a smart resume/transcript.

1 Like
#460

  1. Describe the concept of public and private key with your own words.
    Public key is similar to a web address and private key is like a password. If Kim wants to send a secure/private message to Pam, she takes the public address encrypts the message, and Pam has the address but needs the another private key/password to access the message.

  2. What 2 use-cases can public-key cryptography be used for?
    Sending and receiving digital money/ assets or information.

1 Like
#461
  1. Describe the concept of public and private key with your own words.

A public key is a string of encrypted characters created from the private key. The public key is tied to the private key, and is used between parties to transact an exchange of value. The private key holds the actual access to the value (bitcoin or other crypto). It is a one way transaction. Value is sent via the public key. Only the receiver has access to the private key for access to the final value being transacted.

  1. What 2 use-cases can public key cryptography be used for?
  • delivery of value from one party (sender) to another (receiver).
  • verification of a transaction can be viewed on the blockchain using the public key.
1 Like
#462

  1. Public key cryptography is a system by which messages can be maintained secure if they are encrypted with the public key of the receiver and as long as the receiver of the message maintains their private key secret.

  2. a) Encryption.
    b) Digital signatures.

#463

****Describe the concept of public and private key with your own words.
A, A private key is mine and mine only I use this to open messages, A public key is derived from a private key, a private key cannot be guessed from a public key.

What 2 use-cases can public key cryptography be used for?
A, Sending Crypto, the public key is the address you share publicly, the private key is the gives you access to the message/funds that has been encrypted with a digital signature. This encrypted message will then be unencrypted using both the senders key and the public key. (digital signatures)

1 Like
#464

  1. Your public key is derived from and is linked to your private key which is a unique numbers that allows encryption and verification of encrypted communication.

  2. The transmission of encrypted messages and the digital signing of transactions in crypto currency transactions

1 Like