Homework on Public and Private Keys - Questions

  1. Private keys are large random numbers. Public keys are generated from the public key, and a Bitcoin address is generated from the public keys. You cannot calculate a private key from the public key. The public key and BTC address is available to anyone, so anyone can send you BTC. However you must know your private key in order to send BTC from your account. If you lose your private key, you have lost your BTC. In the case of Bitcoin the private key is used as a digital signature.
  2. The two use-cases of public key cryptography are encryption and digital signatures. Cryptocurrency employs the digital signature use-case.
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  1. The private key is randomly generated and the public key is generated from that. The private key is used as a signature when sending crypto and the public key is used when receiving.

  2. Encryption and digital signatures

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

A Public key is generated from a private key so you can use it for certain purposes. A public key is used to encrypt information and a private key is used to decrypt the same information. A public key is visible to everyone but the private key is only visible to the user.

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

It is used for 2 main things ie Encryption and Digital signatures

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Public key is blockchain adress where anybody can send or recive .and its on open source network.this key is derived from private key which is unique for me.no one can have same key as its impossible .in crypto Private key is like digiat signature to identity of person.

2 to recive bitcoin public key is used with which adress is genrated

And second use case is to encrypt data.

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

They are mathematically related to each other. The public key is used to encrypt a message sent to the owner of the corresponding private key, which is then used to decrypt the message. The public key is public and so anyone can use it to send a message, but only the private key (which is private) can be used to access it meaningfully.

  1. What two use-cases can public key cryptography be used for?

One way to use this is to preserve confidentiality as explained above. Another way is to create digital signatures.

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  1. Describe the concept of public and private key with your own words.
    A private and public key pair is used for various encryption scenarios. A private key is a randomly generated number that your computer generates, and is only able to be viewed by you (assuming you keep it secure and private.). Then a public key can be generated from the private key, and is viewable by the public when using it for sending/receiving encrypted messages or digital signatures.

  2. What 2 use-cases can public key cryptography be used for?
    Encryption and digital signatures

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1- the private key is autogenerated by your computer that you must keep safe that decrypts information encrypted by the public key which is displayed in front of everyone and is not hidden. This is used in bitcoin in a way your public key is displayed verified by your private key with digitally signing saying it is really you who made the transaction (digital signature)

2- encryption (not really used in bitcoin) and digital signature (the most used in bitcoin)

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

Public and private key cryptography is at the center of blockchain technology which makes it all possible. Each crypto wallet is based on public and private key pairs. The computer or your wallet creates a very large random number which is the private key. You then derive the public key from the private key using a special formula and from your public key, you are able to create a bitcoin address.

When you want to send bitcoin, you are required to sign the transaction using your private key and when you receive bitcoin, it’s sent to your address using your public key which is linked to your private key. Public and private key is a one-way mechanism whereby you can go from private key to public key but cannot go vice versa.

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

The first use case is encryption allowing anyone to encrypt a message or data with a public key and the entity that owns the private key can decrypt the message. Encryption is not used in cryptocurrencies.

The second use case which is more utilized in cryptocurrencies is digital signatures. For example, if you want to send a message to your friend. Your computer creates a private key which you will then derive the public key from and use the private key to send the message/sign the message to your friend.

Your friend uses the public key to check your signature with the private key. In simple terms you have the message and you want to check the signature of the public key for your friend who sent the message by mathematically comparing those two numbers, being the signature and the public key, as to whether it corresponds to the private key of the public key that sent the message. (ahhhhhh that’s a brain melt just writing that hahaha)

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Thank you Maki :heart_eyes:

  1. Describe the concept of public and private key with your own words.
    Private key is your secret identity which belong to you and only you and it is a random number generated by computer. Public key is the key which can be seen by everyone and it is generated by using your private key.
  2. What 2 use-cases can public key cryptography be used for?
    Proof you have written something. Check if you have the right sofware downloaded.
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  1. Describe the concept of public and private key with your own words.
    It’s a pair of keys related by a hash function. This allows you to share one in order to receive messages or transactions, but only the owner of both can read or validate the data.
  2. What 2 use-cases can public key cryptography be used for?
    Encrypting private information that’s being transferred over a public network.
    Digital signatures that can be used for validating who’s the sender, owner, etc.
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You use a hash function to verify the file download, notice you don’t require a public key to verify it :wink: the other use case for PK cryptography would be encryption

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

  • Private key is a large random number. U generate puplic key from the priveate key. Private key is to keep for your self. Puplic key is to share with the world. When something is shared with your puplic key Number/address, Your private key is “the magic key” to see what is shared with you.
    2 What 2 use-cases can public key cryptography be used for?
  • Signing/digital signature and/or security/encryption.
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  1. Describe the concept of public and private key with your own words.
    -Public keys are used to encrypt sensitive information. Public keys can be shared with others in order to receive messages. Private keys are used to decrypts messages and is used to sign the transactions

2 What 2 use-cases can public key cryptography be used for?
-Bitcoin addresses are used as a public key to receive funds. Sending bitcoin using private key and signing transaction.

This is a use case for digital signatures and the second use case is encryption.

Q.1.Describe the concept of public and private key with your own words.
A.1.Public key open to anyone, private key kept with owner in secret.
Private always used to generate public key.

Q.2.What 2 use-cases can public key cryptography be used for?
A.2.Can use the public key for digital signature (of yourself) and sender’s integrity
and verify in open network message an encrypted message

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  1. Ones keys (public and private) are used to a) securely verify/identify a transaction and b) to decrypt a message between two addresses on a (usually but not necessarily) public network.
  2. encryption and digital signatures
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A Public Key encrypts data and the Private Key decrypts that data encrypted to the Public Key.

Crypto
SSH (secure remote login, tunneling, etc)

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The concept of Public and Private Key I think that are essential to really understanding how cryptocurrencies work. The Public key is available to everyone and your Private key by common sense it´s Private, only you have access to it. Two of the most known uses for Public and Private Key are Digital signature and Encryption.

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