Homework on Public and Private Keys - Questions

  1. Describe the concept of public and private key with your own words. the concept of public and private keys is that public keys allows you to share data with other people and encrypt that data being sent. The private key is used to decrypt the information that was encrypted with the use of your public key as well.

  2. What 2 use-cases can public key cryptography be used for? The two use cases are…

  1. Encryption- a sender can combine the public key of the receiver of the message, encrypt it across a public network.
  2. Digital Signatures- this allows the receiver of a message to verify the sender of a message.
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  1. Private key is a very large number that is generated by your computer. Public key is then made from that number. This is made so that you can’t deduce a private key from a public key. Public key is visible to anyone, private key only to you. With your private key you sign transactions.
  2. It is used in encryption and in signing digital signatures.
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  1. pulic key are use to encrypt messages, data, transaction, information, etc while the private key is used to decrypt that was encrypted using that public key.
    2.encryption and degital signature
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  1. Describe the concept of public and private key with your own words.

A public key in an ‘address’ that identifies you and can be used by others to send you information that they want to encrypt. Your private key - what the public key derives from - is used to decode the encrypted information sent using your public key.

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

Encryption + Digital Signature, the latter used in Bitcoin.

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  1. Private Key is a randomly generated number and public key is further derived from Private Key. They are used to send encrypted messages and identifications. Public Key is used to transfer encrypted message. Digital signatures combine with public key are used and both are derived form Private Key.

  2. Encryption and Digital Signature

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  1. A private key is a random number which is generated by your computer. People use their private keys to sign BTC transactions so that everyone in the network can see that you are indeed sending your BTC and the private key is only known by the owner. The public key is derived from your private key and it is viewable to the public. When people receive transactions sent from your BTC address, they can compare the 2 numbers of your signature and public key to verify whether the public key generated was indeed from the private key that is sending you BTC. In essence, public and private keys serve the purpose of user security.

  2. Encryption and Digital signatures. For example, when a person wants to send a message that is intended for a particular recipient over an open unsecured network, they should encrypt this message by using the recipients public key which is generated by their private key. When the person receives the message, they can mathematically verify by comparing the digital signature and the public key to ensure that the public key was generated by the private key of the sender. Once satisfied that the message is coming from a legit source they can use their private key to unencrypt the message for viewing.

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  1. A private key is the personal code used to generate public key(s). Where the public key can be shared or is added as a signature to authenticate messages, the Private key is there to confirm that you have the authority to access that information and should never be shared with anyone
  2. Cryptography can be used for encryption whereby the combination of private and public keys is used to encrypt certain messages. The second case is digital signatures where the combination of keys is used to authenticate messages
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  1. The public key is safe to share as a means of encrypting messages. Messages that were changed with a public key can only be encrypted with a private key. The private key can also be used to sign messages, so the sender is verified.
  2. The first use-case is general encryption, the second are digital signatures.
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  1. Public and private keys are coupled in order to transfer data privately through encryption on a public network. You basically use a randomly assigned private key which is linked to a generated public access key which encrypts data to be sent. Only the specific private key linked to the public key that encrypted the data can actually decipher the data sent.

  2. Public key cryptography can be used for encryption (which was just addressed) as well as application of digital signatures. Digital signatures are used in btc transactions. To send btc, the source must be verified and is done so using a digital signature that is uniquely linked to your private key

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  1. Describe the concept of the public and private key with your own words.
    The concept is to provide confidentiality of the parties communicating with encrypted messages. One party can generate a private key, which in turn generates a public key that is needed in order for the owner of the private key can decrypt that message, insuring an owner of a private key is the only one receiving said message.
  2. What 2 use-cases can public-key cryptography be used for?
    1). Encryption for security allows for the person holding the private key to be the only one able to decrypt the message from a public key.
    2). Digital Signature: A digital signature is a mathematical scheme for verifying the authenticity of digital messages or documents. A valid digital signature gives a recipient very reason to believe that the message was created by a known sender (authentication), and that the message was not altered in transit (integrity).
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  1. the private keys are randomly generated number that provides a digital signature for the message to be sent so that the receiver can be secure about the origin of the message. The public key is generated by the private key. Private key needs to be kept safe while the public key is visible and accessible to the public. the public key in turn generates another security layer by generating the Bitcoin adress. This makes it possible to send and receive coins safely.

  2. Encryption and Digital Signatures.

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

Your computer generates a random number which is your private key. It is then put through a function to get your public key. This is a one way street of your information. your public key is for to the world to see and use whereas your private key is solely for you and should be kept secret and safe. When people send things to you, they send it to your public key. When you send something, you sign it with your private key to verify that is indeed coming from you.

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

Encryption, which is not mainly used in cryptocurrencies, enables one party to send a private message to a second party through a public space. The message is encrypted and is basically gibberish to everyone but the second party. Only their private key can decrypt it and show the actual message

Digital signature, which is mainly used in cryptocurrencies, is the process of having your private key sign the transaction to verify that it is indeed coming from you. Your signature will correspond with the receiving party’s public key.

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1 Everyone can see public key, and encrypt information to someone who have private key to open it. Publick key it is like key which can only lock information,and private can open it.
2 can be used for encryption and digital signature

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1.) Public and private keys are the basis of cryptography. A public key is to be shared so that anyone that wants to send an encrypted message to a particular individual can use the public key to do so, knowing that only the private key that is associated with that public key can decrypt the message. A private key is to be guarded and kept secret so that only the owner can access the information that has been encrypted with the public keys.

2.) The 2 use-cases that public key cryptography can be used for are 1. encrypting a message so that only the intended receiver can decrypt and read it. 2. Creating a digital signature so that the receiver knows that this message came from the sender and not someone else.

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  1. Private key is the random huge number generated by your computer. Using this private number, you then generate a public number(key). It is possible for someone to send you a message using the data of message and public key to hash a number which you can unscramble using your private key.

  2. Two use cases are:
    a. You can send a private message to someone else, over a public network, that nobody but the person who has the private key, can unscramble to read.

    b. You can generate a signature, using your public key, to send to someone who can then verify your identity by using your private key to unscramble this number(signature) to know that it is really you that generated the signature. This is how bitcoin transactions are sent and verified.

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  1. Describe the concept of public and private key with your own words.
    A private key is a random string which when put through a mathematical function, creates a public key. From the public key there is no way to know the private key but it is easy to determine the public key from the private key.

  2. What 2 use-cases can public key cryptography be used for?
    Public keys can either be used for encrypting or digital signatures.
    Encrypting means that person A could use the public key of person B to encrypt a message that they want to send to person B. Person B could then decrypt the message using their own private key, there is no other way of finding out what the message says.
    Digital signing means that if person A wants to send money to person B, they can sign the transaction with their private key; in order to check the source of the money, person B can verify this mathematically using the signature and the public key of Person A.

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@travis_bazile @DigzBlockchain @BrianR

We actually share public addresses instead of public keys. Public addresses are hashed versions of a public key.

https://learnmeabitcoin.com/guide/public-key-hash

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Private key is not encrypted. Its just a number. Here is an interesting read on how to create a private key from coin flipping.
https://bitcointalk.org/index.php?topic=944596.0

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Homework on Public and Private Keys - Questions

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

  • Public key is the key which can be seen by everyone and it is generated by using your private key.
  • Private key is personal and necessary to make transaction from the account.

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

  • Sending a message
  • Sending funds.
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A public key is not generated by hashing the private key. In order to get the public key the private key goes trough something called " Elliptic Curve Digital Signature Algorithm". Public keys are derived by performing point multiplication with the curve’s base point and the secret exponent/private key. The resulting (x,y) coordinate is the public key. After that we can hash the public key to get a bitcoin address.