Homework on Public and Private Keys - Questions

Blockchain and Bitcoin 101
#910

  • Describe the concept of public and private key with your own words.
    Private keys are enormous randomly generated numbers from which the public key is derived. The keys can be used to secure encrypt and decrypt messages.

  • What 2 use-cases can public key cryptography be used for?
    Digital signatures - for signing and reading encrypted data.

1 Like
#911

This whole space is soo interesting. Canā€™t wait til I become an expert.

1 Like
#912

I guess I confused the math behind the ECDSA with the hash. Thanks for clear that out for me.

1 Like
#913

  1. Public key is available to everyone, while private key should always be kept secret. You can generate a public key using a private key, but you cannot find the private key using a public key.

  2. Encryption and digital signatures (used in cryptocurrency transactions).

1 Like
#914

  1. Private key is a random large number only available to you to encrypt messages that you want to send over public network or to encrypt messages that you receive from someone. Public key is derived from your private key and can be shared with everyone. Private key is something that should be kept secret. You can go from private to public key but you canā€™t go from public to private key.

  2. Encryption and Digital signatures.

1 Like
#915

  1. Describe the concept of public and private key with your own words.
    A private key is a random generated number that unlocks everything. The public key is derived from the private key and it is use to encrypt and send messages or transactions to others. The private key is used to sign and decrypt messages or transactions.

  2. What 2 use-cases can public key cryptography be used for?
    Public key cryptography can be used for encryption and digital signature. Encryption is used to privately send things to others. Digital signatures are used to verify the sender.

1 Like
#916
  1. Public keys are derived from private keys. You share your public key with others, which allows them to send you secret messages. Secret messages sent to you by people using your public key are decrypted with your private key.
  2. Private keys are also used to create and send digital signatures to verify the integrity of a person sending messages or executing transactions.

*It is the second use case, digital signatures, in public and private key technology that is used the most in blockchain.

1 Like
#917

Homework on Public and Private Keys - Questions

  1. Describe the concept of public and private key with your own words.
    Private key is your digital signature for sending email or cryptocurrency.
    Public key is BTC Address that you can use openly to send to someone for you to receive your crypto

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

2 Likes
#918

  1. private and public keys are tools of cryptography used for verification and encrypting between involved parties. Private key is randomly generated number that needs to be kept private. Public key is then derived from private key and is publicly shared.

  2. encryption - receiver generates private key and public key, keeps private key private and shares public key to potential senders. When sender wants to send a message to receiver, encrypts the message by receiverĀ“s public key. Receiver then will be able to decrypt the message by his private key.

digital signature - sender distributes his public key to all the parties that will need to verify that sender is actually who he says he is. Then when message is sent, sender generates a digital signature (string derived from the private key) that can be verified by public key that potential receivers already have.

1 Like
#919
  1. I understand this this way : everyone has their own BOX and a KEY to that BOX
    BOX-public key
    KEY - private key
    If I want to send you @ivan a message/money I need to take your BOX, put my content into it and send it to you. You only can open it because you have the KEY to open your BOX.
  2. First - Encryption , Second- Digital signatures
1 Like
#920

  1. Describe the concept of public and private key with your own words.
    In order for someone to receive a message, he has to generate a private key which is a random number (mathematical computation). A public key is created by the private key. A private key is your identity and is a secret, while public keys are seen by everyone.

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

1 Like
#921

A public key is one for the public to see. It is created from the private key, which is like a combination to a safeā€¦for my eyes only.

Encryption- using a public key to encrypt a message, which the recipient of the message needs the private key to decrypt in order to read the message.
Digital signatures- the sending and receiving of transactions.

1 Like
#922

Private key is randomly generated number of a really high value. Using mathematical function public key is derived from the private key.

Encryption and digital signatures.

1 Like
#923

1.Describe the concept of public and private key with your own words.
privat key is like password that only know. No one else. From that computer will generate random public key which can everybody see.
just like in hashing it is one way function. There is no way how to guess privat key based on public key.
If someone uses my public key to encrypt message I am able to decode it with my private key.

2.What 2 use-cases can public key cryptography be used for?
Encryption like mentioned in point 1.
Digital signatures - which is used in Bitcoin. We can verify that transaction was really send from someone because only this guy has privat key and bitcoin wallet address this privat key belongs to.

1 Like
#924

[quote=ā€œivan, post:1, topic:8431ā€]he

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

The concept of public and private key can be explained by

  • A private key is a randomly generated number, generated by the computer
  • The private key can be used to generate the public key, by passing the private key through a formula
  • It is not possible to generate the private key from the public key
  • The private and public key are central to performing Bitcoin transactions
  • When a Bitcoin transaction takes place, it is signed with a digital signature
  • This digital signature is signed by the private key of the sender
  • The senders private key was used to generate their public key
  • The sender sends the Bitcoin transaction to the receivers public Bitcoin address
  • When the receiver receives the Bitcoin transaction from the sender that has been signed with their private key, they will be able to verify the transaction as having come from the receiver by using a mathematical calculation to determine that the private key that signed the transaction was used to generate the senders public key
  • Making the public and private key pairing is key to verifying the transaction
  • Because the sender sent the Bitcoin transaction to the receivers public address that the receiver provided, they will be able to associate the transaction

The two cases that public key cryptography can be used for are as follows:

  • Encryption
  • Digital signatures
1 Like
#925
  1. Describe the concept of public and private key with your own words.
    Answer: The private key is a random number and must be kept secret. The public key is generated from the private key and is to shared.
  2. What 2 use-cases can public key cryptography be used for?
    Answer: 1. Sending message with punlic key that cannot be read without the private key. 2. Digital Signature to identify sender
1 Like
#926

Public keys are used to store data and are visible to anyone we want
Private keys are used to sending data and they are secured by cryptografi but must be protected at all times.
Private keys opens data on public keys .One way function.

Sending encrypting messages on public network and digital signature.

1 Like
#927

You can not have a public key without a private key. The holder of the private key is the true owner of a wallet. Public keys are generated by the holders of the private keys, and are this process is one-directional, where the private key has all access to the public key but the public key has no access to the private key.

  1. Encryption
  2. Digital Signatures
1 Like
#928

1: Your public key is generated from your private key. You encrypt message with private key and receiver decrypts with your public key.
2. You can use it to encrypt messages or you can use it as digital signature.

1 Like
#929

  1. A public key is an address, created from a private key, that can be shared publicly to point to something sensitive without giving away any sensitive information away.The private key is used by one individual, and should not be shared with anyone, for it hold all the sensitive information that should be kept away from the public.

  2. A public key can be displayed publicly to be able to accept payments like BTC. It can also be used to verify the creator of a message.

1 Like