Homework on Public and Private Keys - Questions

Blockchain and Bitcoin 101
#5188

Homework - public and private keys

Describe the concept of public and private key with your own words.
The concept of the public key is to encrypt data that can only be decrypted by a private key.

What 2 use-cases can public key cryptography be used for? For privacy and security.
Encrypting data to someone, and signing digital data.

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#5189

  1. Describe the concept of public and private key with your own words
    => The Public and Private Keys are used to provide secure, private communication in public channels. The user can sign messages using its Private Key and receivers of the message can prove he is the author of the message by confronting it with his Public Key. Other users can also encrypt messages to a user X, using X´s Public Key. Upon receiving the message, user X should use his Private Key to decrypt the message that was sent to him.
    A user should keep his Private Key confidential and should make his Public Key public. The Public Key is derived of the Private Key but it is impossible to derive a Private Key from the associated Public Key.

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

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#5190
  1. In public key cryptography, every public key matches to only one private key . Together, they are used to encrypt and decrypt messages. If you encode a message using a person’s public key, they can only decode it using their matching private key.
    2.Encryption and digital signature
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#5191
  1. Private key is like your “account password” that allows you to get to the funds. Public key is like your “profile” that everybody can see and without creating a account and having a password you can’t have a profile.
    2.digital signature. encryption
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#5192

1 and 2. Public keys (random number) are accessible to everyone. Private keys (random number that is for you to keep secret) are accessible to you. In order to safely make a transaction or send info on a public network you must create a private key from the public key that you can either send via encryption or as a digital signature.

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#5193

  1. Public key is an encrypted version of your private key, which allows you to sign and send transactions. Public key is generated from private key but not vice versa.

  2. Encryption and Digital Signatures

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#5194

  1. Describe the concept of public and private key with your own words.
    Your computer generates your private key, and its a 78 random number. This private key is what
    signs your transactions, and allows you to spend money. Your private key also generates a public
    key which was originally used as the address you’d receive bitcoin to.

  2. What 2 use-cases can public key cryptography be used for?
    Firstly, it hides your private key, so nobody has access to your bitcoin wallet.
    Secondly, It’s used so you have a way to publicly interact with other bitcoin users.

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#5195

1.Your computer mathematically generates a string of random numbers, which is your private key. From these numbers your public key is derived. Any and all information sent to you can only be accessed by your private keys. This formula is one way only, private to public never the other way around.

  1. The 2 use-cases public key cryptography are used for are encryption data as well as digital signatures.
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#5196

  1. Both keys are used in “Public-key cryptography”. The private key is generated by a computer program first, and then the public key is derived from it. You can not figure out what the private key is from a public key. It’s a one-way function. The public key is shared with anyone wanting to encrypt the message and only a private key holder can decrypt it. It’s paramount to keep the private key safe and out of reach of anyone because if it’s lost or stolen, the message can’t be decrypted or can be compromised.

  2. Encrypted messaging and digital signatures in cryptocurrencies.

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#5197

Private and Public Key pairs are necessary in order to ensure security within an open, distributed network. On the blockchain there are no accounts - but therefore public/private key pairs. The private key is created randomly and kept secret by the owner - the private key allows to sign messages, as well as decrypt messages. The public key is derived from the private key and used to encrypt messages. The public key can be shared with others, whereas the private key must be kept secret. It is impossible to recreate the private key - using the public key.

Encryption and Digital Signing.
In addition, based on the Public Key the Bitcoin Address can be created.

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#5198

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

A private key makes you the owner of a wallet. Only you will have acces to it so it is important to keep it on a safe place. Once lost you cannot access your funds anymore.
The private key is needed to create the public key which everybody can openly see.

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

>to send transaction from one wallet to another which everybody can check.

use it as a personal signature.
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#5199

  1. A private key is used to decrypt encrypted data sent to you through your public key, no one else can decrypt the message except they have the private key. also it’s impossible for a third party to generate the same key

  2. can be used for sending bitcoin, also for sending messages

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#5200
  1. You have a private key (random numbers generated), which can generate a public key (which can then generate a bitcoin address – but it can’t go in the reverse direction). Only information sent can be decrypted using the private key, which has been encrypted using the public key.
  2. Has 2 important use cases: encryption and digital signatures.
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#5201

  1. A public key can be shared without fear, it’s alike a address for a business. A private key should never be shared and is like a key the owner has to unlock the door of the business.

  2. For digital signatures for to prove they are coming from the person who claiming to send them and to for encrypting messages.

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#5202
  1. Describe the concept of public and private key with your own words.
    • Private keys are used to sign data over a public network. Public keys are derived from Private keys and can be used to decrypt the data sent over or at least verify the signature of the data and who it was sent from.
  2. What 2 use-cases can public key cryptography be used for?
    • It can be used for encryption/decryption of data over public networks
    • It can be used to digitally sign data to validate the authenticity of the data and who it was sent from
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#5203

1.A public key is generated from your Private Key. Your private key is secret and should not be shared ever. No one can find out your private key by knowing your public key. The possibilities are endless. Your private key is used to verify incoming information. Public key is used for sending information, your public key also generates your BTC or ETH address. Anything sent will be sent to your public key and verified by the private key.

  1. The 2 use cases are encryption and Digital Signatures.
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#5204

  1. Private key is something that you keep a secret because it is almost like a “password” for your funds or wallet. Public key is something that is derived from your private key and used for signing transactions. It is impossible to figure out a private key from knowing someone’s public key.

  2. Public key cryptography is used for encryption(sending a secure message or data) and for digital signatures.

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#5205

Public and Private keys-

  1. Public keys are what everyone can see. Private keys are kept safe and not given to anyone. Public keys can be used to send transactions to the private key address.

  2. Encryption and signing

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#5206

  1. Public keys are used to send encrypted data which only a recipient with the private keys can use to decrypt.

  2. Encryption and digital signatures are the two use cases for public key cryptography.

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#5207
  1. Private key is a unique secret number that generates your public key. The public key can be visible to anyone, but is derived from you private key. Mathematically, you can verify if the the public key is truly derived from a certain private key, but you can not discover a private key just by having a the public key.
  2. Encrypting messages or making a digital signature.
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