Homework on Public and Private Keys - Questions

Blockchain and Bitcoin 101
#1070
  1. Describe the concept of public and private key with your own words.

Your wallet creates a private key, then public key and then a bitcoin address. Private keys are used to sign your transactions digitally and authorise. The public key/bitcoin addresses can be public information but don’t allow anyone to access your private keys.

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

Encryption which is used for messaging and digital signatures which are used to authorise transactions.

#1071

Public and private keys are based on a randomly generated number that are used to encrypt data so that the data can be verified or kept private (secret) from unintended parties. The private key must remain secure in order to be effective.

Encryption is used for the sharing of private messages and digital signatures are used to verify your identity.

#1072

  • Public key is derived from private key with. The private key is generated randomly however it is unlikely to have collission.

  • The 2 use-cases of public key cryptography are digital signatures and encryption.

#1073

1-The private key is a huge random number which is intended for private use only. The public key is derived from the private key and is used in the network.
2 - Encrypting data and digital signatures.

#1074
  1. Private key: random number generated by my computer. I have to keep this public key secret.
    Public key: derived from my Private key, I can share it with the public to send me encrypted messages. The Bitcoin address is generated from this public key.
  2. Use cases: encryption and digital signatures. I can encrypt messages I send to others using their public key so that they will be the desired recipient will be the only one who’s able to open it using their private key. I can also send a normal message (not encrypted) and add my digital signature as proof that it was really me who sent the message. The recipient can use my public key to ensure that it was me who sent the message.
#1075
  1. Describe the concept of public and private key with your own words.

The private key is used to generate another key (public) that can be safely distributed openly and used to encrypt a string of information that only the original private key can decrypt upon receipt. Due to the one way mechanism, it is not possible to derive the private key from the public one.

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

Encryption/Digital Signature

#1076

QNS 1. Describe the concept of public and private key with your own words.
Public key is generated by the private key and is used to send the message across to other party. Private key must not be seen by the net as information will then be accessed. It is a one way function.

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

#1077

private keys is out money leaves your wallet. Must be kept safe and quiet. Also you able to decrypt an encrypted message with your private key.

to use cases are digital signature and encryption, the fundamentals of Bitcoin.

#1078

A user of Bitcoin would typically have two different keys: a public key: This key is used publicly and can be sent around. It’s matched with a private key that the Bitcoin user has in secret. This private key can be used to determine that the public key is a match, but you can’t determine the private key with the public key.

Digital signatures for important documents or encrypted messaging or of course cryptocurrency. (communication of value)

#1079
  1. Describe the concept of public and private key with your own words.
    A private key is a random number that derives public keys. The private key is extremely important to keep secure as if it is lost or someone else has it you would not be able to use it, The public key is available to anyone and will allow them to ensure that anything received was generated by the private key
  2. What 2 use-cases can public key cryptography be used for?
    There are two main use cases, encryption (keeping messages secure between parties) and digital signatures that provide proof that a ‘document’ has been signed by the person they are expecting
#1081

In encryption a private key has several functions. It is used to a. encrypt for example a message b. generate a public key c. decrypt messages generated by other and that are encrypted using the public key. A private key should never be shared since anybody having access to the private key is able to gain access to the encrypted information. In case a private key is lost, all access to decrypt the information is lost.

A public key is a key which can be used to encrypt messages, then only to be opened by the person that has access to the private key. The public can be openly shared since it is infeasible to guess the private key by knowing the public key.

  1. It can be used to send encrypted messages to the owner of the private key. b. To provide proof that somebody owns the private key in the form of digital signatures
#1082

The private key is a random number which a computer generates, and out of the private key a public key is derived. Everyone can have access to the public key generated, but the only way to encrypt the information is the use of the private key, which only the owner of the creator of the private key should have.

The two main use cases for public key cryptography is Encryption and Digital Signatures.

#1083

  1. Describe the concept of public and private key with your own words.
    The private key is randomly generated. The private key is put into a hash function witch generates the public key.
    The public key can be shared whit others the private should not.

  2. What 2 use-cases can public key cryptography be used for?
    The public key can be used to sign a message that only the one with the private key can read. (Encryption)
    The public key can be used to verify a signature that was created with the corresponding private key. (Digital Signatures)

#1084

  1. Describe the concept of public and private key with your own words.
    A private key is a randomly generated long number which can be used for generating the public key. It is impossible to generate a private key from the public key. The private key is what you use for signing transactions for a particular public key.

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

#1085

  1. public key is for everyone to see and they can direct a transaction towards it in order to send a transaction to you (a holder of a private key). Private key remains private all the time and it is the only key to access the funds stored under it. Public key can be generated from a private key but not vice versa.

  2. -for encrypting messages

  • for making transactions between wallets on a cryptocurrency network
#1086
  1. Describe the concept of public and private key with your own words.
  • A public key is an algorithmic piece of information, created from a private key, that is shared with others and is used to encrypt a message that can only be decrypted by the receiver’s private key. Although the public key is meant to be shared, the private is never to be shared and must be known only to the individual it belongs to.
  1. What 2 use-cases can public key cryptography be used for?
  • Two use cases for public keys are encryption and digital signatures. People use your public key to send you bitcoin or other cryptocurrencies and it is also used to send encrypted messages. In digital signatures, the public key is used in conjunction with a unique signature to authenticate a sender’s identity.
#1087

  1. The concept of the public key and private key is that the public key is available for everyone to see, whereas a private key must be kept secure and secret. The private key is an enormous random number that is generated by your computer and the public key is derived from this. If you have the private key you can find out the public key but not vice versa.

  2. Two use-cases are to encrypt messages and to provide digital signatures.

#1088

  1. A private key is generated by the person who is creating their own digital signature (or by the person who is on the receiving end of an encrypted communication. The public key is generated from that private key, and is available to the public. This public key can be used in two main ways. First, communication can be encrypted using the public key, so that only the receiving end of the communication (which has the private key upon which the public key is based) can decrypt the communication. The second way the public key can be used is to validate a digital signature.

  2. Accidentally described this in the previous answer :slight_smile:

#1089
  1. Using private and public keys are used to communicate in a way that a message stays secret between sender and recipient. A person can create a private key using certain mathematical functions. They then put in their private key into another formula, which calculates a public key from that. Next they can publish the public key wherever they like. Now anybody can use this person’s public key to encrypt and send them a message. The message will be safe, even though everyone can see the public key - because one needs the private key to decrypt the message.

This technology is used in Bitcoin, where people can publish their Bitcoin address and receive funds with it, but nobody can calculate their private keys from it. At the same time, they can send Bitcoin, authorizing the transaction by signing it with their private key. Then the network can confirm that the real private key was used, even though nobody will be able to derive the private key from the signing.

  1. Encryption and digital signatures
#1090

  1. If I wanted to send sensitive information online, I can encrypt my message using the recipient’s public key, which would then be decrypted using their private key. The public key is derived from the private key and can be openly shared for everyone to see. You cannot derive a private key from a public key. The private key is kept secret.

  2. The two use-cases for public key cryptography are encryption (above) and digital signatures.
    Digital signatures are used in bitcoin to verify transactions. For example, a bitcoin wallet generates a private key, which then generates a public key and a bitcoin address. When I send bitcoin to another bitcoin address, the transaction is signed by my private key, and the recipient verifies that the transaction came from my public key.