Homework on Public and Private Keys - Questions

[sharpest]

1. A public key is generated from a random number (the private key).
   As cryptography is one way only, the private key can not be found from using the public key as an input. This is important, as the public key can be freely passed around, but only the owner of the private key can access the information held within the public key.

2. i) Encryption (Privacy)
   ii) Digital Signature (Proof of ownership / Integrity)

[Valerie_Clark]

Homework on Public and Private Keys - Questions

1. Describe the concept of public and private key with your own words.
   The private key is a fixed number of characters which remains private but from which the public key is derived and can be used to encrypt transactions and communications and public keys can be used by another party to verify identity of other party without revealing private keys.

2. What 2 use-cases can public key cryptography be used for?
   Encryption and Digital Signatures

[MarkusJohansson]

1. Describe the concept of public and private key with your own words.
   public key is the thing that you share with others in order to be able of recive money. It is generadet by your private key which is secret and practically impossible to guess. The private key is used for sign messages and generate a public key. Your public key encrypts your sending messages and your private key decryptes recived messages.

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

Cryptocurrency and public key signing digital documents

[Supremedonut]

1: If you want to create a secure way of doing transactions you can create a private key. This private key is only yours. But you will derive a public key from the private key, which you can put out to the public. So when someone uses your public key to write you a message you are the only one who can read the message by using your private key to gain acces.

2: Encryption and Digital signatures.

[elez]

1. Publickey is a encrypted message That is sent to someone publickey but kan only be opened with the recipiens privatekey.
2. Encryption and digital signings.

[jackswango]

If you want to send something to someone through a public channel, there are a lot of spectators. In order to receive private messages, a computer generates a large random number known as the private key. The private key is kept secret, to make a transaction, the private key can generate a public key using a special computing formula.The public key is derived from the private key and is viewable to all. The information encrypted wth the public key however, can ony be accessed by the person who holds the private key.

2 use cases: Encryption, Digital Signatures.

[Misterpow]

1. As a pair they are very useful because the private key has the function of signing and /or verifying e message and the public key can be used to direct a message to someone who can then use the private key to unlock the secrets of the message.
2. Signing messages and encrypting.

[Mimi]

1. The private key is always kept secret and not visible to the network. It is being used in order to sign messages/transactions. The public key is derived from the private key; they are a unique key pair.
2. Can be used for encryption and digital signature.

[WeRise]

1. Describe the concept of public and private key with your own words.
   Public keys are used to receive cryptocurrency and it is generated from the private key which grants access to all transactions to and from that wallet.

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

[Lunasea]

1. A private key is a generated number, that allows you to sign messages and to do transactions. The public key is generated from the private key and is used as address for transactions. The public key can be shared with other people, the private key must be kept secret.
2. The two use cases are :

• encrypting messages to keep the content secret
• digital signatures, to verify the integrity of a transaction.

[DanBeeCee]

1. Describe the concept of public and private key with your own words.
   A private key is a series of random numbers generated by your computer. It is the basis of operation for your bitcoin transactions. It must never be shared or lost. If so, you risk losing your coins.
   A public key is another random series of numbers generated from a private key. The public key can be shared openly in order to received messages and/or transactions by then generating a bitcoin address from it.

2. What 2 use-cases can public key cryptography be used for?
   One use case for public key cryptography is the encryption of a private message - digitally signing a message using one’s private key and sending it to one’s public key. After receiving the encrypted message, the recipient then uses their private key to decrypt the message in order to read it.
   A second use case is for sending and receiving cryptocurrency like bitcoin. One uses a public key to generate a bitcoin address.

[CryptoMadis]

1. Public and private keys are used for making some sort of information secrete. Private key is only for the owner to know and public key is to be shared with everyone who wants to communicate with the owner.
   To encrypt information, sender needs to have the receiver’s public key. After that the info is unreadable and the only way for the receiver to decrypt it, is with his/her private key

2. a) making some sort of info secrete (by encypting)
   b) using a digital signature as for cryptocurrecies

[Lane11]

1. Describe the concept of public and private key with your own words.
   Private key generates a public key, the public key is open to everyone while the private key is for us. When we send somebody a message, we use a public key from recipient to encrypt the message. Then when the recipient wants to read the message he will use own private key.
2. What 2 use-cases can public key cryptography be used for?
   Digital signature - verifying who sent a message.

[Mauro]

After generating such a private key we would want to encrypt it before putting it on any device. But yeah coin flipping is a crazy idea. Generating private key offline is the best thing to do. That’s why we should all use hardware wallets.

[Mauro]

@TrevPeter

1. It is intended for sending encrypted message over an insecure connection.

The private key is the key that can access the funds. A public key is a key you would give to someone if you wanted to receive money. This is the most basic difference between them. You actually give a hashed version of the public key, which we call a public address. But either way its important to see the difference between them. Hope that helps.

[Mauro]

@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.]

@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.

Correct. Could you add something more about them? What does the private one do and what does the public one do?

[Mauro]

@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.

Yes, you would want to send the encrypted message to the user who has the private key. The beauty of it is that you can post it publicly and only the user with the private key can see it. Hidden in plain sight.

[Mauro]

@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.

Only the private key is randomly generated. After that the public key is derived from private key. One private key will always link to the same public key.

[Mauro]

@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.

In bitcoin, a public key is derived from the private key using the Elliptic Curve Digital Signature Algorithm (ECDSA). I am not sure what you meant by the input number, but there is no hashing going on. We hash public keys to get public addresses however.

[Albert777]

Private key: a long and unique random number generated by the computer.The user must to keep it secret otherwise someone can steal his/her bitcoins or read his/her encripted messages.

Public key: derived and created from the private key is the “official and public” address present in the network and accessible by anyone;it’s safe to share the public key since it’s absolutely impossible to reverse engineer or discover the related private key.The direction of process is always from the private to the public key,it’s impossible to reverse this process in order to discover the private key.

Use cases of public key cryptography:

Our main cases:

1. Encrypted messages
2. Digital Signature of transaction in blockchain