Public keys are publicly shown to any dapp, website, or people using block explorers since it is your wallet’s identification when interacting with other wallets, dapps, and etc.
1. Describe the concept of public and private key with your own words. The private key is a random number generated by a complex formula which only we can have (anyone with access to our private key would have access to our funds) and the public key is another number which is publicly available and it’s generated by another complex formula which takes our private key as an input. There is no way to find out a private key by knowing it’s corresponding public key since the complex formula is a one way function.
In the Bitcoin network, we mainly use public-private key pairs to digitally sign transactions. When we want to send a transaction, we have to sign it with a set of characters (signature) which are generated with our private key using a one way function. The recipient of the transaction can then verify (using another
complex formula) that the sender’s signature and public key have been generated with the same private key thus guaranteeing the transaction’s authenticity.
2. What 2 use-cases can public key cryptography be used for? Encryption which allows confidentiality and digital signatures which allows integrity and non-repudiation.
1. Describe the concept of public and private key with your own words.
If someone wants to secure a message, a public key is used to encrypt it, this encrypted message can only be read by someone who has the private key. So X sends a message to Y encrypting it with a public key, after this message arrives at Y, he/she decrypts the message. If Z was listening along with the conversation, he now only sees random numbers/letters, since Z doesn’t have the private key, there is no way for him/her to know what is written.
2. What 2 use-cases can public key cryptography be used for?
When sending messages through whatsapp, the messages are encrypted so that no one can just ready everyone’s messages with ease.
When developing, secure connections on a network are made through SSH. These SSH keys are used so that you are sure only you have access and you say who you are because you have the private key to establish this connection.
A private key is a string of digits which put into a formula creates a public key. The private key cannot be found from the public key, and the private key “unlocks” the public key.
Encryption and digital signatures. Sending/receiving information privately and proving that it has been done so privately.
The public key is derived, hashed from the private key which is usually a random number or string. This unique pair is then used to encrypt content so only the holder of the 2 keys can decrypt it.
For encryption and digital signatures.
Private key belongs to you only. People sending encrypted messages or currencies to you will do so using your public key. At that point, only your private key, which was derived from your public key, can decrypt the message.
Encryption and digital signature.
1.Private key is a random large nmber generated by the computer, public key is created from private key. You keep your private key for yourself and public key for sharing with others.
2. Encryption and digital signing. Digital signature are more commonly used in bitcoin
with the private and public key you can send messages onto the network. Everyone can see the message by finding the message with the public key. but nobody can see that the message is from mee in the open network.
when i send the message to a specific person, i can also send a digital signature with my message (signed with my private key) to verify that the message is from me to the sender its designated for.
if the digital signature does not match the message, the receiver of my message needs to understand that i did not send the message but someone else.
encryption and digital signatures.
1 the private key is your personal information to access to the messege. The public key is generated from the private key, and allows you to send and receive messeges
2 encryption and digital signature
1 - Private key is a random computer generated number, that must be kept secure and secret. A public key can be generated from the private key and is available for everyone to see.
A message can be encrypted using someone’s public key and that message can only be decrypted using that person’s private key.
A Bitcoin address can be generated from the public key and be used to send or receive coins. Only the person who has the private key for that address can send or receive the coins.
2 – Encryption and digital signature.
1.Private key is for me ONLY… no one else can see this key, I must keep it safe.
Public key is a mathematically set of numbers and or letters made from the Private key, that anyone can see, and this is used as your Bitcoin wallet.
2. Two use cases are Encryption and Digital signatures.
A private key is a randomly generated number sequence that is unique. From this private key and public key can be derived, from not visa versa. If an encrypted message is sent to a public key, it can be unlocked only if you have the private key.
Digital Signatures.
Encryption
A private key is a randomly generated number and is used to create your public key, it is purely for your own use and must be kept secret. Your public key can be shared and is used for encrypting and decrypting data.
Encrypting data and digital signatures
The concept of private and public keys are a way to protect and identify the owner of bitcoin. A private is derived from generating a random number. When that private key is generated you are also given a public key which can be viewed by anyone just like your username on social media. One thing is note is that this is a linear process, You can only derive your public key from your private key. You CANNOT derive your private key from your public key.
The first use case of public key cryptography is Encryption, meaning you can send a message to another person. That works by taking the recipients public key and encrypting it into the message which then allows the recipient to only know what the message says and who sent it.
The second use case is digital signatures. This is the use of bitcoin transaction by using your private key to give a transaction your digiatal signature allowing users to confirm that it is you that made that trasaction.