Homework on Public and Private Keys - Questions

Blockchain and Bitcoin 101
#1211

[quote=“ivan, post:1, topic:8431”]

  • Describe the concept of public and private key with your own words.
    Your computer generates a random number to form a private key and from your private key a public key is generated. Encrypted messages/transactions can only be opened/verified if you have both the public and private keys: a public and private key pair.
  • What 2 use-cases can public key cryptography be used for?
  1. Confirming ID and how you can identify who sent a message.
  2. Confirming the ‘integrity’ of a transaction and who sent it.
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#1212

Thanks,
i understand, this is more logical.

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#1213

Cryptography in Bitcoin is used to produce public and private keys and for providing a digital signature in a transaction. Hashing Bitcoin is a variation of cryptography where the output is fixed after been put through Sha 256.

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#1214

Describe the concept of public and private key with your own words.
The public and private key are used for Encryption and a digital signature that shows your ID and provides integrity. For example if John talks to Jane via a messaging app and they both have a private key that would have generated a public key that is mathematically linked. John sends a message to Jane which gets encrypted with her public key. Then only Jane can read that message as she has the private key to decrypt the message as the private key is mathematically linked to her public key
What 2 use-cases can public key cryptography be used for?
1.Cold wallet to an exchange currency transfer
2. Electronically sign a document

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#1215

No problem. I am glad I helped you. Keep up the great work. :slight_smile:

#1216

This is the same as what you mentioned in the second step. The cold wallet needs to sign the transaction. Encryption is the second use case which you mentioned in the first answer. :smiley:

#1217

they were asking for 2 use cases ie: give 2 examples of when public key crytography is used
1 example transferring currency from a cold wallet to an exchange, did i miss understand the question?

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#1218

1- Public key is randomly generated from the private key, while the first one as it name shows is public means available to everyone, the private key should be always stored in secure place and just be used by the owner.
2- Public key can be used as in cryptocurrency as digital signature, or in messaging to encrypt message or data

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#1219

Both are doing the same thing. They are making a digital signature of the transaction/document. They are 2 different use cases for sure, but they are achieved the same way. Encryption is another use case of public and private keys. Maybe the question should be reworded a bit. Either way, don’t worry. Your answer was good. I just wanted to add encryption as its very important in general.

#1220

ok cool Mauro thanks

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#1221

Ah, yes! That makes more sense. Thank you for the correction. :smiley: :pray:

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#1222

A public key is like the address of someones home. Everyone can see it. The private key is like the key to your mail box which is something that only you have access to. When two people give each others address, they can use it to send messages to each other.

The 2 use-cases are encryption, and digital signatures.

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#1223
  1. Describe the concept of public and private key with your own words.
    A: The private key is what grants a cryptocurrency user ownership of the funds on a given address. The Blockchain wallet automatically generates and stores private keys for you. When you send from a Blockchain wallet, the software signs the transaction with your private key (without actually disclosing it), which indicates to the entire network that you have the authority to transfer the funds on the address you’re sending from. The security of this system comes from the one-way street that is getting from the private key to the public address. It is not possible to derive the public key from the address; likewise, it is impossible to derive the private key from the public key.
  2. What 2 use-cases can public key cryptography be used for?
    A: #1 Digital signatures: It allow developers to verify that a message was provided from a trusted identity. #2 Sending tokens or Bitcoin transactions.
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#1224
  1. A software program generates a unique, long, random string of characters known as a private key for the user. From this key another unique set of characters is generated that will always relate to the private key set. This is known as a public key & can be displayed openly to public view without fear of other users being able to determine the related private key number from it.
  2. Public key cryptography can be used in the crypto sphere & private messaging
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#1225

Homework on Public and Private Keys - Questions

  1. Describe the concept of public and private key with your own words.
    A public key can be generated of a random number and can be shared. The Privat key on the other hand generates the public key and should not be shared.
  2. What 2 use-cases can public key cryptography be used for?
    encrypting messages and signing transactions.
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#1226
  • Describe the concept of public and private key with your own words.

Public key is open to everybody to see
Private key is generated by your computer as a string of random numbers and only you know it if wasn’t compromised.

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

  • Encryption

  • Digital signatures

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#1227

  1. A private key is a set of randomly generated numbers that you keep secret. A public key is derived from a private key and is shared. A private key is what allows you to control your own Bitcoin while a public key is what allows others to send you Bitcoin.

  2. Public key cryptography can be used for encryption and digital signatures

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#1228

  1. Private key is a randomly generated number used in order to sing transactions and create the Public key.
    Public key is a number generated from the Private Key that don’t allow to reverse engineer the Private key but allows to verify the private key signatures.

  2. The public key can be used in order to verify the signature of transactions or messages.

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#1229

  1. A Public Key is generated from a Private Key and used by the recipient or anyone with access to the
    Public Key, to generate a Cryptographic message that can only be deciphered by the Private Key.

  2. Encryption and Signatures. In Business you may want to send information that competitors can’t see,
    but you do want customers and associates to know the source is definitely you. Encrypted
    Messages and Encrypted Signatures.

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#1230

  1. a private key is a random number generated by a computer while a public key is generated using the private key, although the public key is derived from the private key there is no way to derive back the private key from the public key.

  2. they can be used to encrypt messages or in order to create digital signatures.

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