Homework on Public and Private Keys - Questions

Blockchain and Bitcoin 101
#1171

Homework on Public and Private Keys - Questions

  1. Describe the concept of public and private key with your own words.
    Answer: A private key is randomly generated using a combination of a function (fixed parameters) and AI generated random selection.
    A public key is created using hashing from the private key. The relationship between the two is collision resistant and brute-force resistant which means that it is nearly impossible to have two of the same generated and it is nearly impossible to find the relation through brute computing power.

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

    Answer: 1 use case is in conjunction with a private key. I can send an encrypted data file to a person using their public key. They in turn are the only one able to interpret the file using their private key. Because the relationship between the public and private key are collision resistant and brute force resistant the public key can be disseminated widely as a point of contact without revealing the private key.
    Another use case: Authentication. The public key can be combined with a short digital signature which shows the sender is the possessor of the private key without revealing the private key.

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#1172

  1. Public & Private key pair are a unique pair relatable to each other and uniquely different. Used in combination, as long as the user keeps their Private key “private,” a digital fingerprint capable of privately distributing information with high confidence of authenticity.

  2. Digital Signatures and Encrypted Data Exchange

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#1173

  1. Describe the concept of public and private key with your own words.
    Private key is the key used to access the encrypted data and it is only available for me and shouldn’t be shared with the rest. Public key is available for the rest of the people.

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

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#1174

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

Public and Private keys are used in the digital encryption and signing of cryptocurrency transactions. A randomly-generated Private key is created and then used to derive a Public key. This pair of keys work together in such a way that messages (transactions) that are encrypted with the Private key can only be decrypted by using the Public key. Furthermore, this key pair is special in that the Private cannot be derived from the Public key, which also makes it possible to verify the origin/sender of the message (this is a digital signature). This makes is possible for two parties to send/receive messages to one another through open/public forums while maintaining privacy.

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

  1. Encryption

  2. Digital Signatures

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#1175

Describe the concept of public and private key with your own words.
A private key is a random and unique number generated by you (computer) and is only for you.
From a private key, you can generate a public key that you can publish everywhere you want.
If you send a message to my public key, only I can read it by using my private key, because the public and private key are linked but only one way. That message is signed with your private key that I can verify because I know your public key. This all goes mathematically.

What 2 use-cases can public key cryptography be used for?
Encryption (make something private in a public area)
Digital signature (to identify and verify)

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#1176
  • Describe the concept of public and private key with your own words.
    Private key is a large private number that is private to you only. You use the private key to create a public key which can be used to encrypt messages and can only be decrypted by the private key
    What 2 use-cases can public key cryptography be used for?
    Encryption and Digital signatures. Digital signatures very who sent the message
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#1177
  1. Describe the concept of public and private key with your own words.

These are the forms by which security of transactions are safe tight. A private key is a random computer generated number unique to the user. It is the users responsibility to safe guard and keep this key secret. The private key is the information needed to unlock a transaction or message by the end user.

The private key can be used to generate a public key, much like an email address or bank account number, this is shared with and attached to information that is sent across the open and public network. It Allows a for traceability and encryption. It is only the private key that allows for use.

  1. What 2 use-cases can public key cryptography be used for?
    Encryption of information
    Digital signatures for authenticity
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#1178

Describe the concept of public and private key with your own words.
In analog and standard digital cryptography, the encripting and decripting party need to know a shared method / algorithm or key for encryption and decription. The problem is, if both parties are geographically seperated they need to transfer this information at some point in time without encryption, being the biggest problem.
In public and private key system now, there is no need to share any secret information that is not encrypted for processing encryption and decription. With the public key shared to everybody and the private key kept secret encription can be performed and digital signature verified.

What 2 use-cases can public key cryptography be used for?
First, for encryption of data or communication. Everybody knowing your public key can take it and use it to encrypt data or communication. This encrypted data is unreadable / unusuable without having the private key to decrypt it.
Second, for secure digital signature.

Questions:
The public key is generated by using private as input in a hash function.
The signature is generated by using the private key as input in another hash function.
How are public key and signature connected?
Or are public key and signature generated by same hash function, just by using different second input additional to private key?
How ist the process of taking signature and public key to verify signature? Is it a problem to be solved? A defined output to becreated like 0?

Please help :slight_smile:

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#1179

Hey there!! Can you provide some use cases for public key cryptography?

#1180 
1.	Describe the concept of public and private key with your own words.

Your treasure can only be sent via your private key address…remembering your recovery passphrase and pin is essential to keeping this private key safe. Even if your hard wallet is stolen your treasure is safe unless the pirate knows your private key…so keep it close! The public key can freely be given out at leisure because Bitcoin can only be sent to this public address but that is it….and thanks if you do!

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

End to end encrypted messaging and trading cryptocurrencies via digital signature.

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#1181
  1. A private key is a randomly generated number that can be used to create a public key. The public key is used and a signature generated from the private key and attached to a message to verify who actually sent it. The private and public keys are also used in encryption with the private key used to decode any messages that have been encrypted with the public key.
  2. Encryption and digital signature.
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#1182

1.) The private key is generated by your computer and is to be kept private. The private key then will generate a public key that can be shared anywhere. In cryptocurrencies the public key will generate the bitcoin address.
2.) Public key cryptography can be used to encrypt a message or be used to encrypt anything of value.

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#1183
  1. A private key is a secret random number, encrypted that every crypto wallet has. Each private key generates a public key that is shared with the world. That is why this is called public key.
  2. The function of the public key is to received a message also known as signature from a private key.
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#1184

  1. A private key is a very large randomly generated number that is kept secret. This, in turn, is used to create the public key which can be shared everywhere.

  2. Use case #1 is Encryption. When a computer generates a private key, a special formula is used by the private key to create a public key. You are unable to derive someone’s private key from the public key. This one-way relationship ensures security as long as you safeguard the private key. While anyone can use the public key to encrypt data, only the person with that specific private key can decrypt it.

Use case #2 is Digital Signatures. In this case, the private key is used to “sign” a message or crypto currency transaction. By using this digital signature, you are verifying that you actually do have funds to spend or sent a specific message. As long as the private/public key pair is legitimate, the transaction will be accepted.

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#1185

Your Bank Account Number is your public key, everyone can see it and send money. But no one can transfer the money out from it.
Your Bank Account Password is your Private Key. Which give full access to allow you to transfer your money out.

Just like most digital wallet you can show everyone your public key but not your private key.

#1186

Homework on Public and Private Keys - Questions

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

  • private key are used for signing transaction.
  • Public key’s are derived from Private key
  • you can create public key’s from private key but not private key from public key’s
  • author encrypts with own private key, receiver decrypt with author public key

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

  • encrypt message’s with private key’s
  • private key can be used for digitally signing messages
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#1187
  1. The public key is an string of characters that i can use to let a payment being send at me. The public key is genereted by the private key which is secret because it can be used to digital sign a transaction.
    There is no possibility to get the private key from the public key
  2. Sending messages, sending funds or sign up a document like a pdf
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#1188

1- A private key is what’s originally generated by your computer/hardware wallet. From this key, you can create a public key, which anyone can see. It is not possible to figure out a private key by having a public key. However, you can take a private key and figure out a public key as it is derived from the wallet pair. The private key plus the public key = your bitcoin address for example.

2- A public key can be used to send a private, encrypted message to a private key holder. A private key can be used as a digital signature when sending money/doing transactions to verify that only YOU spent or sent your bitcoin. This private key signature, plus knowledge of your public key enables the receiver to verify that the message was actually sent with your private key. So to summarize, the 2 use cases for public key cryptography are:
1- To send an encrypted message
2- To assist in identity verification when a digital private key signature is used.

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#1189

  1. Describe the concept of public and private key with your own words. Private key is a random number that belongs to one person and enables encryption. Public key is derived from the private key and is used within an open network. You cannot figure out what the private key is based on the public key.

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

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#1190
  1. Describe the concept of public and private key with your own words.
    A: The private key is needed to send funds/transactions. It acts as a digital signature authorizing transactions. The public key is the address available for anyone to send transactions to, however no funds can be spent/withdrawn from this address without the private key.
  2. What 2 use-cases can public key cryptography be used for?
    A: Public key cryptography can be used in finance (such as bitcoin) to broadcast an address to which funds can be sent.
    Public key cryptography can also be used with email, where anyone can send you an email if they have your email address (public key) but they cannot read your email without your password (private key) to gain access to your email account.
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