1 - The private and public keys is a way to secure your data, is use for encrypt messages and digital signatures, internally of the process is based in random numbers to generate a unique values, is most used to secure your data in case of a hacker wanna to get your information
2 - Encrypt data and digital signatures
The public key is used for encrypting a set of data while the private key is able to decrypt the information or data from the public key
digital signatures for crypto transactions and data encryption .
Describe the concept of public and private key with your own words.
Public and private keys work together in a system of cryptography. Private key is what you want to keep private as if someone finds it, they can take all of our coins. Public key derives from private key and its an address you can show publically without having to worry about getting your coins stolen. An example is when you see a website or youtube video and you see a BTC or ETH address. This individual in this case is essentially giving out their public key in the hopes of being sent some crypto. This system is a one way function meaning you can generate the public key from a private key but you can’t go from a private key to a public key.
What 2 use-cases can public key cryptography be used for? Encryption, meaning you can encrypt a message like an email to send to someone else. Its also used for digital signatures, this is to identify and/or show the integrity of the individual or message.
1- From private key i can generate a public key, anyone can see my public key but no one can see my private key.
2- a) Encryption messages.
b) Digital signatures.
Public keys are keys generated via using the private key your computer generated ie input to get your public key ie output also this is strictly uni directional meaning I can recreate my public key with my private key but I cannot do the same with my public key and get my private key
A private key is generated when you have a wallet. The private key must be kept safe and secret. The private key is how you sign to sell your bitcoin. The public key is used as a way of identification that everyone can see. You can generate your public from your private key. There is no way yo know your private key if you only know the public key.
You can encrypt messages using someones public key to send them messages that only they can access using their private key. IT is also used for digital signature. Digital Signature is how you verify transaction using bitcoin.
The concept is pretty much a private key generated from your computer that pairs it with a public key. The public key is derived from the private key.
The two use cases encryption and digital signatures.
Private key is you secret key that you can use to buy stuff for, but you use a generated public key to receive cryptocurrency, so that none can access your currency.
One is to receive founds, sign something. send message.
private key is randomly generated very large number, and then used to generate the public key where it is impossible to guess the private key from public key. We share the public key to everyone, when someone can encrypt the message with the public key and send to us. The message we received is then decrypted by our private key.
(1) encrypt the transaction (2) sign the transaction
1.Private key is to remain private and public key is to share,if someone gets your private keys then your funds will be gone.
2…Public key cryptography can be used to receive bitcoin payments because they are hashes of public keys, and can be used to encrypt messages between two parties, you will need the public key of the receiver to encrypt it and your own private key key to decrypt it.
1.) The concept of public and private keys is to create encryptions and digital signatures among the blockchain for interaction. A cryptographic function creates a private key which is encrypted, then when that private key is used to interact on the blockchain network, a public key is paired through a digital signature event. A bitcoin wallet address can also be established through the process of these keys being paired.
2.) The 2 use-cases a public key can be used for in cryptography is encryption and digital signatures.
1. Describe the concept of public and private key with your own words.
The private key is generated from the seed words. Therefore the seed words decrypt the private key.
The public key is generated from the private key, therefore the private key decrypts the public key.
The public key is used to receive transactions. The private key is then used to proof ownership of those UTXO’s and can sign to spend and send that UTXO.
2. What 2 use-cases can public key cryptography be used for?
There are 2 main use cases for private/public key cryptography which are :
Encryption : The public and private keys for example.
Digital signatures : Like signing a transaction for example.
Two random numbers generated by public key cryptography, in order to insure privacy and verify identity of a peer to peer transaction.