Homework on Public and Private Keys - Questions

[Mauro]

@JustMichael

1. Private key is an encryption translator, public key is the assigned parameter for converting any data to it’s private key encryption’s “language” for later translation.

Private key is just a larger number. 256 random zeros and ones. Elliptic curve cryptography is used to get the public key. After that we hash the public key to get a public address.

[Mauro]

@iceman007

1.Describe the concept of public and private key with your own words.
A private key is a randomply generated number and a private key is a numer generated as a function of the private key.

You probably meant to say “A private key is a randomply generated number and a public key is a numer generated as a function of the private key.”

Also the public key is generated using elliptic curve cryptography.

[Mauro]

@Conrad_Swart

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.

Signatures are created using your private key. No one uses your private key ever.

https://learnmeabitcoin.com/beginners/digital_signatures_signing_verifying

[Sabine]

@ivan

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

1. The private key has to be kept secret by its owner. Once lost it can not be recovered. The public key instead is being generated from the private key and can be seen publicly. Having a public key you can never find out the private one.

2. use case 1: signature. For example, you can “sign” messages you want to send with your private key and give the public one to who will receive the message. Using the public key the person who receives the message can verify that you really are the sender.
   use case 2: encryption. The opposite of the first use case: person A knows the public key of person B. He/she uses it to encrypt a message to be received from person A. Person A can decrypt and read the message only when in possess of the private key.

[Les]

1. A private key is a cryptographic key used to encrypt or de-crypt a message. A public key is derived from the private key and is used to send a encrypted message to the owner of the private key.

2. Cryptocurrency value transfer, and e-mail or document security use public key technology.

[TylerS]

1. Describe the concept of public and private key with your own words.
   Private key is a randomly selected personal number generated mathematically from your computer. The public key is the key you share with others over your unsecured network, is derived from your private key and is used to encrypt sent messages and digitally sign transactions in cryptocurrency.

2. What 2 use-cases can public key cryptography be used for?
   Encryption can be used to encrypt messages by which the receiver can use their private key to decrypt the senders public key.
   Digital signatures are used to verify who sent the message or cryptocurrency. Via your personal private key derives the public key which created a digital signiture. One can send crypto to another via your digital crypto address originated from your private key but can receive crypto using your digital address. The use of public and private keys alleviates the security issue via the internet.

[Mauro]

@TylerS

1. Describe the concept of public and private key with your own words.
   Private key is a randomly selected personal number generated mathematically from your computer. The public key is the key you share with others over your unsecured network, is derived from your private key and is used to encrypt sent messages and digitally sign transactions in cryptocurrency.

Only a private key can make a digital signature.

[DeezSats]

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

A private key is the keys to the castle basically. This is not to be shared. These are required to generate a public key and to sign any transactions. If the private key is lost or stolen your coins or tokens are lost too.
The Public is just that public. This is the address that is shared. It can be viewed by anybody and is the address people see when they are going to send a transaction.

2. What 2 use-cases can public key cryptography be used for?
   The public key is used as a receiving address for messages that can be opened using the private key.
   Digital signatures is the second use. The receiver can verify that the digital signature sent from was derived from the senders private key.

[zzzsoren]

@ivan

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?

Answer 1:
The private key is a randomly generated number that only the owner should know. Then the public key is derived from this number, and as a result they have a mathematical relationship.

Answer 2:
The public key, can be used to encrypt information which only can be decrypted by the private key of that public key.
The private key, can create a digital signature which can be proved to be derived from that private key by knowing only the public key.

[TrevPeter]

1. It is intended for sending encrypted message over an insecure connection.
2. Cryptocurrency and public key signing digital documents or encrypted email.

[AlexParas]

Nice as an idea, but difficult to do it. Also to be safe you must do it with all possible offline methods and not trusting a 3rd party site or programm that you can’t prove the fairness.

[Shaakirha_Botha]

1. Describe the concept of public and private key with your own words.
   your private key needs to be private and your public key needs to be public.]

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

[Rockydigital]

1. The public key is derived from the private key, a random number generated by the computer. And then a special mathematical formula is used to generate the public key. One uses the public key to send encrypted messages to another.

2. Two use cases for public key cryptography are encryption and digital signatures. Encryption ensures a secure way for sending messages from A to B. Digital signatures identifies yourself which retains the integrity of the message. It is how B, the recipient, verifies that the message actually came from A, the sender.

[Timothy]

1. Public key is generated from your private key and is used for public, public key also encrypts the information you send and can be decrypted only if you have a private key
2. Encryption and digital signature

[Elizabeth]

1. a private key is a randomly generated number from your computer and is private. A public key is generated from the private key and is visible to anyone.
2. encryption. digital signatures

[acey]

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

A private key is a very large random number that is used to sign transactions or encrypt messages. A public key is derived from the private key and can be used by anyone to address the recipient only. It is impossible to derive a private key from its public key.

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

Encryption of transmissions and identity integrity (digital signatures)

[Moises]

Public key is like your bank account number and the private key is like your pin to validate any transactions.

Encrypting/ decrypting messages
Digital signatures

[JosieA]

1. Public and private keys are used to encrypt the transmission of sensitive data. A public key is made available by the receiver to who ever requires it to encrypt the data that is to be sent. The data can only be decrypted by the holder of the private key which is held by the receiver and is paired to the public key that the receiver originally generated and distributed.
2. A common use case for public/private key encryption is when credit card payment information is transmitted across the internet. This information is very sensitive because if it is intercepted and easily read it can be used to make fraudulent purchases.
   Another function of this technology would be to verify the identity of a sender of an online transmission.

[Galeman]

1. A public key is sent to the transaction receiver.
   Public key randomly generated out of the private key. The holder of the private key is able to verify whether the public key really arose from the private key, which is held by the receiver and is paired to the public key that the receiver originally generated and distributed.
2. A common use is sending confident investment project information.

[AG01578]

Describe the concept of public and private key with your own words A public key is a number that is linked/generated (derived) out of an input number through a hash function and serves as the element that will prove the identity of the user who initiated the transaction. A private key is a large random number from which the public key was derived and allow its owner (and no other user) to spend/use the value transacted.

What 2 use-cases can public-key cryptography be used for? One is digital signature and secondly to encrypt messages/transactions