Homework on Public and Private Keys - Questions

Blockchain and Bitcoin 101
#4788
  1. Describe the concept of public and private key with your own words.
    a private key is computer generated to be a unique identifier, which should also be kept secret. a public key is generated from the private key and cannot be reverse engineered. Any who know the private key will have free reign of any messages or funds
  2. What 2 use-cases can public key cryptography be used for?
    Either encrypting messages to and from people, or as a digital identity to establish ownership of an account.
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#4789
  1. Public key is used to encrypt information, private key is used to decrypt the information or message that was encrypted.
  2. The 2 use cases are encryption and digital signatures. Digital signature verifies who has sent the information, the bitcoin address is made using the public key which is made using the private key.
    Private key -> public key -> bitcoin address.
    You can send bitcoin to other people using your private key, but you can only receive bitcoin through your bitcoin address. It shows proof that you have sent or written something
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#4790

1:
A public key is a key which can be seen by anyone and it is generated using your private key and a private key is a key personally assigned to an individual user which is private and it is a random number generated by your computer.
2:
The 2 use cases are encryption and digital signatures.

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#4791

  1. The private key is a random number that is made by the computer. From that private key the public key gets derived from. The private key is for you only and the public key is for everyone to see. It is only one way, so nobody can get the private key out of the public key. With the private and public key you can use to encrypt messages and you can use it as a digital signature to verify it was you.

  2. Like in the above. It is used to encrypt and it is used for digital signatures.

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#4792
  1. Basically private key (only known by you) is a random number of your account/wallet based on which a public key is created (visible for everybody). Then public and private keys are used to send transaction inside of blockchain, to encrypt it/digitally sign it, to verify who has sent it and also to get access to the wallet.
  2. For encryption and digital signatures.
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#4793

The Private key is created with a random number generator, it becomes a unique one, and from the Private key you can create an Public key.
The Public key is used for others to send you funds/messages, and like its sounds its ā€œPublicā€ for all to see.
The Private key is your key only, its should be hidden and only you can access to it! The Private key gives you access to your wallet, read encrypted messages or sign documents. You can always get access to your public key if you lose it from the private key, but you can never go from public key to private key.
like mentioned it can be use to sign transactions, documents, send and its the key to access to belongs to YOU!

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#4794
  1. Describe the concept of public and private key with your own words.
    • A private key is a randomly generated number that is kept secret
    • A public key is generated from the private key and can be shared publicly
      • Canā€™t derive private key from public
  2. What 2 use-cases can public key cryptography be used for?
    • Digital signatures
    • Encryption
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#4795

Homework on Public and Private Keys - Questions

  1. Describe the concept of public and private key with your own words.
    Answer: Public Key derives from the Private Key. A public key is an openly accessible address where as the Private Key is kept privately stored and secured. For no reason ever should the private key be shared.

  2. What 2 use-cases can public key cryptography be used for?
    Answer: You can use the public key cryptography for two uses cases: a) Encryption:
    You can encrypt the public key generated information which then can only be decrypted and viewed with the private key of the counter part. As previously discussed please note similar to functions this is only possible one way. Decryption > using private key > to decrypt public key but NOT vice versa
    b) Digital Signature: Note - Public Key derives from the Private Key. You can generate a signature using the Private key to sign an information that you send to a counterpart. He/she can then validate, if the information was send from me using a mathematical formula that checks if the signature corresponds with the public key which was generated by the private key. This is for example a way how Bitcoin validates transaction.

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#4796

Homework on Public and Private Keys - Questions

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

*It is the way digitalizing the ownership of something and its security is achieved through cryptography.

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

*cryptography and digital signatures

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#4797

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

    Public / Private key cryptography is a method where you can either sign a message using your private key or encrypt a message using someone elses public key where they could use their private key to decrypt it.

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

    This allows for private communication over a public network or as bitcoin does use the private key to sign and verify.

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#4798

The computer randomly creates a very large number as your private key. This key is your runner key and so very important to keep private. This private key can now generate a public key, for the world to see. This public key, combined with someone elseā€™s data creates an encryption only to be decrypted by the private key.

So:
Private key A => public key A
Data B + Public key A => Encrypted data BtoA
Encrypted Data BtoA + private key A => Data B

You can also use your own private key to sign your own data and send it to someone else.
They can now use your public key to verify that that signature and the public key came from the same source that is your private key.

So:
Private key A => public key A
Data A + Private key A => Signed Data AtoB
Signed Data AtoB + public key A => Data A is verified to come from A

The 2 use-cases are encryption and signatures.

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#4799
  1. Public Keys are used for Encryption and Digital Signatures.
#4800

  1. This concept is oxymoronic: You have this mechanism that is public for everyone to see that is connected to and derived from something that is completely private and could never in million years be deduced by even the fastest computer. Itā€™s like yin & yang or sun & moon.
    Completely public/completely private. Full transparency being arrived at through complete privacy.

  2. Encryption, digital signatures.

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#4801

  1. Describe the concept of public and private key with your own words.
    Ans : Private key is created by computer give as random number called private key. With private key we can create a public key. Public key allow as to create bitcoin address. By this bitcoin address we can receive and send bitcoin to anyone. No one can track the public key and private key by having bitcoin address. In crypto every transaction create by the signature in private key.

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

  • Public key allow as to create bitcoin address.
  • public key can be used openly. No one can track/ trace the private key with help of public key.
  • We can show the media in open with our permission but they canā€™t access our wallet with public key
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#4802
  1. The public key us the address the public can see and you can show to receive tokens, while the private keys is the keys that created your public keys and are what should be hidden from the public because those numbers make up your account and give access to your sending functions. The public key is used to encrypt the information/message being sent. While the private key decrypts the information.
  2. Digital Signatures verify who sent the message since the private key derives the public key which creates the crypto/bitcoin address.
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#4803

Describe the concept of public and private key with your own words.
Public & private keys are a way to encrypt data being sent between to users. The keys can also be used to confirm the sender is who they claim to be.

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

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#4804

1.) Private & Public Keys are randomly generated with the public key deriving from the private key. This allows for an encryption level that anyone with the private key can access anything from the public key.

2.) First there is messaging that would allow for the public key to only be decoded by the private key. Then there is the digital signature use-case which allows the private key to be the signature which is then verified by the public key address.

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#4805

image_2021-09-04_234707

Image from Grokking Bitcoin by Kalle Rosenbaum

  1. The concept of a public and a private key is that they are related cryptographically. The public talks to the private key, and only the public key know what the actual private key is.

  2. A public key is used to verify your that it is your signature created by the private key.

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#4806

What is the other usecase for PK cryptography? :wink:

#4807
  1. A private key is a key nobody have other than me and nobody can sign a transaction if they donā€™t have my private key. A public key is available public and anybody can sign a transaction to verify it.

2.It can be used to digital signatures and encrypted messages.

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