Homework on Public and Private Keys - Questions

Blockchain and Bitcoin 101
#1010

A private key is a randomly generated number created by a computer. This number serves as the access code for a user into a blockchain (or similar) network. Only the user should know the private key for security of access to the information held within that address (key). This key provides the user privacy and security of personal information, or in the case of cryptocurrency - value.

A public key is mathematically derived by a computer to relate to the private key. The public key can then be shared across an open network to other users in order to have information (or value) sent to it. Access to the public key is then only granted to the user that holds the corresponding private key.

The two use cases for public key cryptography are:
a) Information encryption (privacy/security of info transfer on a network).
b) Value encryption (privacy/security of value transfer on a network [Bitcoin etc].

#1011
  1. A Public key helps to decryption, is a random number, generated from your Private key which is also a random number generate on a PC and help to encryption. This can be done only in one way, Encrypted message :arrow_left: Private key :arrow_right: Public key :arrow_right: Decrypted message. 2. If Alice want to send you an message and you don’t want that your wife to see this message, you give to Alice your public key, she encrypt the message and only you will be able to decrypt whit your secret key, the message can’t be decrypted whit the Public key. Now if Alice receive a message, to knows that is from you and not from your wife you can put a digital signature on the message whit your private key, and Alice whit yours Public Key can view that that signature is your. Also is use to generate a BTC addresses: Private key :arrow_right: Public key :arrow_right: BTC addresses.
#1012

  1. Public and private keys are encrypted identities used to interact with hash functions so that users can securely transmit data to each other. Public keys are what an end user might show to the whole world, so that they can receive data, while a private key is effectively the password which is used to decrypt any data that was received.

  2. Public key cryptography can be used for encryption. Digital signatures are another major use case, because the public key can be used to verify that the signature was derived from the correct private key.

#1013

  1. Public key is generated from the private key and it is the one used to recieve information or crypto, the private key is a random number that must be keept secret and safe.

  2. Public key can be used to recieve crypto and other information

#1014

Public keys may be distributed and private keys should only be known to the owner.
The keys are generated with a key generation using cryptographic hash functions such SHA-256

  1. E.g Someone can use the receivers public key to encrypt a message.
  2. Digital Signatures
#1015
  1. like a drop box, or mail box. anyone can come along and deposit a package. but only the mail carrier with their “Private Key” can retrieve whats inside. If they lost their key, and you found them. then you’d be able to to get what was in there…
  2. safely transferring value or information.
#1016

  1. public key is a key contain data that anyone can see or read in public and it is generated by your private key. Private key is your hidden identity that only you know, if you loose it, you loose everything.

  2. Encryption and digital signature

#1017

Describe the concept of public and private key with your own words.
-A private key is a generated random number that you need too keep very private,and will give access too youre accounts,
while a public key is a mathematically generated key from youre private key too share everywhere and can be used too encrypt messages,or too sign a message.

What 2 use-cases can public key cryptography be used for?
-Too encrypt a message that you want too send
-Too digital sign a message without encryption

#1018

  1. The private key is my very personal info. And never to be shared. The public key is kinda like my IBAN-Adress: I share it with people in the hope that some air drops some money onto my account.
    The public key is generated from the private key in a one way function. So every public key can only be attributed to one private key without the number/name of the private key being known.

  2. To receive and send funds
    To sign a transaction

#1019

  1. The private key is a large number which is randomly generated, used to encrypt and decrypt information. The public key is generated via a mathematical formula using the private key.

  2. Encryption and Digital Signatures.

#1020

A private key is a very large number that is generated at random; the number is so large that there basically zero chance of anyone ever generating the same random number causing a situation where two of the same private key exist. A public key is generated from the private key using a hash function and hash functions are one way, that is, you can’t reverse it and work out what the private key is using the public key.

Public key cryptography can be used for encryption across open and observable communication lines. Two people can use each others public keys to encrypt messages to each other which are only decrypt able using their private key, which they keep secret.

It can also be used for digital signatures and this is the main use of public keys in cryptocurrency. Digital signatures do not really encrypt data, instead they verify who the data or transaction was sent by and wen you broadcast a transaction on the bitcoin network, you sign the transaction with your private key and then anyone can use your public key to verify that the transaction was sent by you. The public key is also used to generate a bitcoin address so you can receive transactions with extra security.

#1021

Homework on Public and Private Keys - Questions

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

1. Answer
Private key is a randomly generated number by your computer and then your public key is a SHA-256 hash of this random number in the context of bitcoin.

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

2. Answer
To receive/send 1-messages or 2-transactions

Don’t trust… Verify!

#1022
  1. Describe the concept of public and private key with your own words.

A private key is a long random number. A public key is a number generated from the private key through a mathematical function. This function is only possible to calculate in one way, meaning that you can calculate the public key knowing the private key but you can’t do the calculation in reverse.

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

Encryption and digital signatures.

#1023
  1. Private key is randomly generated key that only you have access and control off, public key is generated from your private key and it is used to share with other user to receive a message. Private key serves to sign your message so the recipient knows that message come from you.
  2. For encryption and digital signatures.
#1024
  1. Private Key (print out and keep in safe location) is a random generated number which then can generate your Public Key. You can use your Public Key to send encrypted messages or receive crypto
  2. Encryption and Digital Signature.
#1025

  1. Private key is a random number, generated by computer, from which public key is derived, from which a wallet address is generated. Public key is available to everyone, some one can take persons A public key, send a message and digitally sign it with their private key, person A will be able to recognize that message was digitally signed by person who has sent the message, and will be able to decrypt this message
    The process of generating wallet address from public key and public key from private key is a one way function and can not go in reverse order

  2. Encrypting the message and digital signature

#1026
  1. Private key is a random number. Public key is created mathematically (derived) from your Private Key.
  2. Encryption and Digital Signatures
#1027

  1. Public and Private keys are used in encryption in general. If I want to receive a secured message from someone on an open communication channel which is subject to monitoring (for example), one way is to use a the public/private keys combo. I generate a pair of private and public keys and share the public key for the sender to encrypt the message before sending it to me and decrypt it with my private key.

  2. It seems I gave one of the use-cases in the answer above. The other use-case would be for digital signatures. Say if the receiver wishes to ensure that the message sender is me, I can sign my message with my private key. In the context of bitcoin wallets, the computer generates a pair of private and public keys and then from the public key, it generates a bitcoin address for use. When I send bitcoin(s) using this particular bitcoin wallet, it is signed using my wallet’s private key and the network knows that my wallet is the one sending it.

#1028
  1. Describe the concept of public and private key with your own words.

the private key is unique and may be read only by the owner of the key

the public key is generated based on the private one but may be shared with others

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

encryption and digital signatures

#1029
  1. Describe the concept of public and private key with your own words.

A private key is a random set of numbers generated by your computer and the public key is a random set of numbers derived from the private key. The public key can be traced /linked back to the private key but the private key can not be linked to the public key.

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

Encryption and digital signatures.