Homework on Public and Private Keys - Questions

Blockchain and Bitcoin 101
#728

[1] Public and Private key:
A private key is a large random number that is generated by a computer system that is not to be shared. A public key is a number that is generated based on the value of the private key. This is a one way process, i.e. The private key value cannot be determined from the public key value.

[2] The 2 use-cases that public key cryptography can be be used for are:
(a) Digitally signing messages with your private key and then sending it to the recipient so that they can confirm using your public key that you indeed did send the message.
(b) Encrypting messages to send to another party by using that party’s public key. When received, the individual would use their private key to decode the message.

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#729
  1. Describe the concept of public and private key with your own words.

A public key is a key anyone can use to encrypt a message. Only the holder of the private key can decrypt the message. In the usage of digital signatures, the holder of the private key can encrypt a private signature to add to a block. Everyone can read the signature by using the public key.

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

Public and private keys are asymmetrical keys for encrypting and decrypting messages and for generating secure digital signatures.

#730

  1. Private key is your own key. This is a random number. With your private key you can decrypt the data. The public key is the key you share with outhers, they use the public key to encrypte the data. Also can de private key be used to sign.

  2. Encryption and digital signatures

#731

1A private key is a randomly created number with this private key a public key can be generated by following a certain function. Someone else can use your public key to encrypt a message but only you can decrypt it using your private key you cannot figure out someones private key by their public key.
2Digital signatures
Encryption

#732

A private key is a large number that’s generated by the computer that you can use to decrypt a message.
A public key is then generated based on the private key by the computer that can be used to access a limited amount of information. You also need to remember to keep the private key safe becouse its the access point to whatever information you store.
2.
When you transact = sending founds or when you are sending a massage.

#733

Encryption is a old concept.
The private key generates a random number. From this number the public key is generated. The public key everyone knows. Where’s the private key is only known by YOU and should be kept at a very secure place.
There are two use cases. First Encryption and second the digital signature. Encryption is used to make a message secure that nobody else can see it. The digital signature makes the message secure and verifies it that the sender is really the person who claims to be.

#734
  1. a private key is the origin key of the public key. the private key is generated by your computer and the public key is mathematically composed via a mathematical order from your private key. But your private key can not be acquired using the public key.
  2. To encrypt a message or currency, and to digitally sigh a message or transaction.
#735

A public key can be used by anyone on the network to either:-
Send a message or
To send funds

In either cases only the person who has the private key will be able to either read the message or receive the funds. Unless the private key’s details have been compromised by being stolen or inadvertently disclosed by the private key holder.

#736

1)Describe the concept of public and private key with your own words.
2)What 2 use-cases can public key cryptography be used for?

1)A private key is randomly generated by your computer.From there a public key can then be generated and from there in cryptocurrency an address will be generated.

2)First case is encryption and the second case is digital signatures.

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#737
  1. Private key is a secret that no one can know except you. Public key that is generated from private key can be freely published and is used for encryption and private key is used for decrypting.
  2. -encryption
    -digital signature
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#738

  1. Private key will generate public key. Public key can be used by anybody. private key is only for verifying transactions there for you must keep it secrete only for you. You loose your private key you loose all your Bitcoin and other cryptocurrency stored in your wallet.

  2. Firstly the public key can be used to encrypt the message, which then can be decrypted using a private key. Secondly , the public key are used in cryptography (Bitcoin) as digital signatures.

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#739
  1. Private key can unlock encrypted messages that was sent to public key.
  2. Sending a message or in bitcoins case sending money.
#740
  1. Describe the concept of public and private key with your own words.

A public key is the digital identifier that is generated by the private key of the owner. The public key is used for encryption purposes to identify the sender in a specific transaction.

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

  2. Encryption of messages

  3. Completing a digital signature

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#741

  1. A private key is a randomly generated number used as a code to verify that you are who you say you are, no one but you can see or know your number. through a hash encryption, your private key generates a public key that others can see and use to verify that messages and transactions are coming from or being sent to you.

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

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#742

Ok, thanks for that. I read the article and understand it better.

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#743
  1. Private key is generated by the computer . which must to be kept in secret . Based on this private key the computer generates a public key , which could be seen by anybody . A message encript with the public key could only be read by the person who owns the private key .
  2. Encryption , Digital signature / it is used most by BTC
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#744

  1. Describe the concept of public and private key with your own words. The private key is randomly generated by your computer thru a wallet. Then the public key is generated based on the private key for encryption. The private key you keep private to control the account and decrepit the transaction.

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

    To send Bitcoin currency from one wallet to another.

    To send a message from one person to another encrypted.

#745

Talking about Cryptocurrency use-case when you create a new wallet a private key (as random number) is created , as second step a public key is created from that public key (so that they are connected) .

Private key is the key that gives access to your wallet/funds and is used technically to “sign” your transaction when you send it. Losing your private key would mean losing your right to “sign” the transaction and to access and manage your funds.

Public key is the key that can be used from everyone to send you transaction (in case of cryptocurrency through another layer, called address).Is not possible to deduce a private key from a public key.

  1. For encryption
  2. For digital signature
#746
  1. Private key: it is the secret (seed) that must be conserved and it is the way to sign the transaction.
    Public key: it is sharable with everyone; it derives from Private key.
    1. Encryption
    2. Digital Signature (btc)
#747

  1. Private key is a large random number that it doesn’t need to be shared with anyone to keep your money safe. Also, a private key can be used to make a digital signature formulated through a mathematical operation when you send bitcoin’s transactions. Public key is created from the private key and it can be online (websites/blog/world).

  2. Two use-cases are encryption and digital signature. The encryption is used to protect secret messages that need to be sent in public platforms. Digital signature is mostly used in crypto and it helps with identification (sender’s digital signature) and integrity of the message.