Homework on Public and Private Keys - Questions

Blockchain and Bitcoin 101
#465

The idea of the public and private key for security, it is to send and receive information to somebody and that somebody can verify also that the information came from the specific sender.

The concept is one way where it can be encrypted mathematically via a public key and decrypted by the recipients private key so it can only be received or read by the person with that specific private key that is linked to that specific public key. It can also be tracked by a public key to prove mathematically that this has come from the recipients private key.

There are 2 use cases of a public key

Digital signatures and encryption.

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#466

  1. Describe the concept of public and private key with your own words.
    A method to encrypt a message sent in public where many spectators could see it. At first, private keys were sent and received to encrypt messages but this created many problems. Many people could have your private key. To fix this, the private key was run through an algorithm to create a public key that can be shared. Private keys are now kept in secret. Messages are encrypted with the public key and sent. Once I have the message, only my private key can open it.

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

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#467
  1. Public and private keys are used to send/recieve transactions on the btc network. Public keys are derived from a randomly generated secret private key and are available for all to see. Public keys can be used to encrypt messages. Private keys are used by the receiver to decrypt messages. Private keys are used to sign transactions. It is not possible to derive a private key from a public key.

2 Encryption and digital signatures.

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#468

  1. The Private Key is something only you know. From it you can derive the public key which everyone can know. The public Key is pretty much your bitcoin address. Public to everyone. Your Private key cannot be figured out from your public key.

  2. Encryption and Decryption :slight_smile:

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#471

Thank you for that informative link, I fianlly know what the elliptic curve is.

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#472

  1. A public key is a key that can be share amount the people you wish to share with.
    A private key is a secret key that only you can have access to and no one else.

  2. Message and funds…

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#473

  1. A private key is a huge random number from which a public key is derived. There is no way to derive the originating private key from the derived public key.

  2. Encryption and Signatures.

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#474

1 - Public and private keys are the system used to encrypt and decrypt messages over a public network. This tool also allows you to safely post and share your public key and be sure that only you have access to your private key and therefore your cryptocurrency.

2 - Public Key cryptography can be used for Encryption and Digital Signatures.

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#475

A public key is not a hash of the private key, but uses ECDSA Elliptic curve cryptography. Because hashes are not reversible while public keys need to be proven to originated from a private key by everyone. Would not be possible by hashing alone

#476

  1. A private key is a key that you generate with a random number that is very big. Private keys are made so that you can encrypt your messages. A public key is a key that is derived from the private key and it can be shared all over the internet.

  2. It is used to encrypt the message so that you can send private messages in public forums and to verify if the person you are talking to really is your friend and not a random person on the internet.

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#477

  1. Private Key is a random number the computer generates and a private key generates a public key but not otherwise. Mathematically, the digital signature compared along with the public key makes it possible to be confirmed that certain signature comes from the LEGIT private key without actually seeing the private key. So, the public key generated by the private key, compared mathematically with the public, this action makes it possible for the private key to be confirmed as legit.

  2. Encryption and Digital Signatures

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#478 
Homework on Public and Private Keys - Questions

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

This concept and use case, is such that a)a public key is created that
anyone can see b) a private key is derived from that public key c) the private key can unlock information created with the public key yet the public key cannot unlock information without the private key - one way hash

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

the first use case is to send encrypted/private messages
the second is to sign and send crypto money

#479

  1. Describe the concept of public and private key with your own words.
    A private key is a random number generated from your computer. A public key is a hash of this private key, and is essentially a one-way street. The private key cannot be deciphered from the public. This allows for secure storage of assets and provenance.

  2. What 2 use-cases can public key cryptography be used for?
    Encryption allows for private messaging and digital signatures allow for multi-sig verifications of transactions.

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#480

Soon we will have schnorr signatures as well, this is a better alternative to ECDSA. (BIP340)

https://themoneymongers.com/bitcoin-schnorr-signatures/

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#481

You first have a random number which is your secret private key, from this key a public key can be derived where others can encrypt messages on it.

#482

1. Describe the concept of public and private key with your own words.
The private key is a random generated number and is a your personal key to access your bitcoins and other cryptocurrencies and should not be shared with anyone as they would then have access as well.
Your public key is generated based on your private key and is shared with people so they can send you money.
2. What 2 use-cases can public key cryptography be used for?
Encryption and digital signatures.

#483
  1. Public key : An open address that the public may view and use.
    private key: Only you should know your keys. used to verify the authenticity of the message/transaction.
  2. Use cases, Encryption, and digital signature
#484

  1. Describe the concept of public and private key with your own words.
    Public and private key are elements of cryptography that can be used to sign and verify messages. A public key (world visible) is generated from a private key (that needs to keep secret).

  2. What 2 use-cases can public key cryptography be used for?
    They can be used to encrypt and verify messages.
    Encrypt: Sender uses the public key to encrypt and send the message to the owner of the private key.
    Verify: The owner of the private key (the sender) signs and sends a message to the receiver, who can verify the message with the public key of the sender.

#485
  1. concept of public and private keys, is to derive security of digital transaction by encrypting a public key generated by private key to send information. public keys are shared over network as an address to your private address, or domaine.
  2. 2 use cases are encryption and digital signatures. only private keys can read encryped public key info. take public key sent to you to generate address signature.
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#486

The concept of private and public keys ensures a method of encrypting information, validating data, and securing privacy.

Message encryption and signatures.

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