Homework on Public and Private Keys - Questions

  1. A public key is generated from a private key, which can be used for encryption purposes or digital signatures in the blockchain. Digital signatures are widely used in crypto which is an assigned private key that’s generated for your personal and private use.
  2. Encryption and Digital Signatures
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  1. A public key is like your paypal address or cashapp username, whereas your private key is your login and pin.
  2. Digital contracts and ownership.

These would bots utilize digital signatures, the other use would be encryption. :slight_smile:

Private key just for me not to share and is a random number. Is a one way function.
Public key is for anyone to see and produced by private key.

Encryption and digital signatures

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

First of all, you have to create a web or mobile wallet and create a 24-word backup in order to be able to access all of the different cryptos that you have decided to integrate into the selected wallet application. You choose BTC, from there, the trusted blockchain access third party will generate a private key for you. However, except by going to the advanced options, you will have at your disposal a public key whose random code resulting from the SHA 256 algorithm is a derivative of the private key, itself much longer than the public key which is a preliminary hashing, or a condensation of the code of the public key of which it is the shortened representation.

When you want to make a transaction to someone (take care to have at least a few satoshis covering the transaction and shipping costs beforehand), when sending the transaction, i.e. when you indicate validate sending the transaction, you will generate a digital fingerprint by signing with your private key, which allows you to certify that it is indeed you who send the transaction. On the other hand, the recipient will decrypt your message sending the transaction with his public key, this process allows him to accept to receive funds without knowing your private key since only the public key is sufficient to accept a any payment.

Basically the private key is your private unknown identification while your private key is your public identity known to all. Or rather the public key is your username while your private key is the password for your username.

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

The public key, in cryptography is useful if you want to encrypt the sending of message, of a document to any recipient.

With regard to Btc, the recipient of a transaction reads the signature of the private key of the issuer with his public key allowing him to determine that it is a message signed by a private key.

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1**. Describe the concept of public and private key with your own words**. The Private key is kept secret (it is known only by the owner. The public key is created using a formulae from the private key. The publich key is freely available to anyone and is not a secret. However, the private ky is and if some one gets hold of it they can steal the funds in your wallet. The private key is a large number. For example, some wallets require that you write down 24 words (this can be considered a private key).
2**. What 2 use-cases can public key cryptography be used fo**r? Public key cryptography can be used for encryption and for digital signatures. When considering encryption - if you want to send a message to jane which is encrypted you need to use Jane’s public key. Only you can read the message you send to Jane and only Jane can read it by decrypting it with her private key. When considering digital signatures: If Jane wants to make sure that it is you sending the message and not someone who has got access to your device then when you send the message you sign it with your private key. ----So to send messages to someone (you need their public key) and to sign messages you send you use your private key (verify identity). This is theoretically how it works.

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1, Private key is the random number generated by your computer. Public key is generated from your Private key. With Public key, your message is encrypted and can only be encrypted with the Private key.

  1. Two major use cases are: Encryption and Digital Signatures
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  1. Public key is used for encrypt the plain text to convert it into cipher text and private key is used by receiver to decrypt the cipher text to read the message . … In private key cryptography, the key is kept as a secret.
  2. Public key cryptography uses a pair of keys to encrypt and decrypt data to protect it against unauthorized access or use. Public key cryptography is used as digital signatures
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  1. Public key is the message that opened to everyone which was generated from private key. Private key is a secret key and can’t be shared.
  2. Encryption and Digital signature(each wallet created on it)
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  1. The public key is created from the private key, it is used to encrypt information, and the private key will decrypt that information, this makes a securer private way to communicate publicly. as long as you keep your private keys safe and securer then no one else can decrypt that information.

2.Use cases for public and privet keys are encryption and digital signature.

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Public keys are the keys that are available for anyone to see, while private keys are randomly generate, astronomically large numbers that in turn create your public key but are only available to you, unless compromised. There are two use-cases for public key cryptography, one being digital signatures to verify you are who you say you are and secondly encryption, or making an output available through the use of a private key, again to verify that you are authorized to decrypt and read the output.

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  1. A private key is your personal key that is neither shared nor visible to anyone else. It is there to generate public keys and signatures witch can then be used to make public transactions or used as proof of id.

    A public key is what others can use to transact with you and is used to encrypt data.

  2. A public key can be used for encryption so that only the desired people can read a message you send, and for digital signatures, which confirm the address of the sender.

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  1. private key is for owner to keep and give permission to sign the transaction, public key is for the public network to access the transaction. There is only a one-way to start from private key to generate the public key. Private key is also used to create digital signature to verify the integrate of the sender in a transaction.

  2. Encryption and digital signature

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  1. Public key and private key are a part of cryptography which helps in security and identification. When person A wants to send any type to data to person B, it is very hard in an unsecured and open network. But if person B provides person A with his public key which has been generated through a private key which is known only by him, Person A can send an encrypted data with person B’s public key which can be decrypted by only person B with his private key, It can also be used for digital signatures which can be used by a person receiving message to confirm the original sender.

  2. Public key can be used for generating encryption and digital signatures.

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A private key is a randomly generated number that is unique and only for use by the person generating it. A public key is then mathematically derived from the private key which can be shared openly because the way in which it is derived means it can not be used to then calculate the private key.

Public key cryptography can be used for encryption of data or for digital signatures.

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  1. To exchange information on the internet over an insecure internet connection, encryption is used. A private key is a very large computer generated number that remains known to one person. Using a mathematical formula, a public key is generated from the private key. Anyone who wants to communicate securely to the person with the private key, uses that person’s public key to encrypt the information they want to send. The person with the private key can then decrypt the message.
  2. Private key and public key can be use to keep messages secure over an open internet link, and can also be used to securely send cryptocurrency to a recipient.
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  1. Describe the concept of public and private key with your own words.
    A private key is a random number that should only be known by the entity that should have access to the content/messages. The public key is derived from the private key. The public key can be publicly displayed as there is no way to work out the private key from the public key. Because of the mathematical relationship between these two numbers, it means that each transaction can be instantly be verified.

  2. What 2 use-cases can public key cryptography be used for?
    Encryption (security) and Digital Signing (integrity).

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  1. Describe the concept of public and private key with your own words.
    Private Key = is the only key to access all messages or tokens being sent to its respective public key
    Public Key = address where the message or token can be sent
    1 Private key: 1 Public Key

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

  3. Encryption - the public can view the transaction but can’t access the contents if the respective private key was not available

  4. Digital Signature - verification that a certain address (private key) confirms a transaction.

I’ve just started learning blockchain today and I would be happy if someone can correct me. Thank you :slight_smile:

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  1. Describe the concept of public and private key with your own words.
    The private key is a randomly generated (almost certainly unique) number. The private key is kept secret. The private key is used to generate a public key, which is not secret.

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

  3. The public key can then be used to encrypt data which can then be decrypted by the private key.

  4. The private key can be used as a unique “signature” which can be verified by the public key.

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1.The concept of public keys are to provide privacy for exchange of data/ sensitive info etc. in view of public and private key validates the origin and decrypts public key.

2.Encryption and Digital Signatures

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