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a private key is a random number(very large number) that is mathematically created either by the person using a mathematical formula or is generated when a person creates a wallet. This is a unique number only held by one person. The public key is then derived mathematically from the private key. The public key is, or can be, widely distributed for transaction purposes. This is safe to give out because the public key cannot be reversed mathematically to find someones private key. The public key allows verification in the network that the owner of the private key is the sending party again thru mathematics.
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The 2 use cases for public key cryptography are for encryption and digital signatures. Both of these are used for verification/validation that the sending party(holder of the private key) is the true sender of transaction or message.
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All decentralized cryptocurrencies have no central server controlling it existence, it depends on the public and private keys pair to function.
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a. Encryption
b. Digital signature
The mnemonic seed represents a master key (which is a fancy word for the root private key), but then for each address more private keys are derived in a hierarchical order. 
Encryption is used to encrypt messages so only the owner of the private key can read it.
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Private Keys are large automatically generated numbers which serve as a digital signature for transactions
Public keys are derived from the privates keys. They are used in the open market and communicated freely. They serve as a way to decipher the encrypted transactions. -
Public keys and private keys are used for Encryption of messages or for digital signatures
- Describe the concept of public and private key with your own words.
Upon performing an interaction in the block chain, a unique personal private key is generated which is a random number and it is known only by the user to send information, e.g. a message/transaction. The private key is converted into a public key through an encryption function, this new key is visible to everyone in the blockchain, however it is infeasible to figure out the private key from it.
- What 2 use-cases can public key cryptography be used for?
It can be used for encrypting a message with the receiver’s public key, so that the message can only be deciphered by the receiver’s private key.
The second use is applied directly to cryptocurrencies, unlike the first example mentioned above. Keys can be used to produce a digital signature on the message to verify the original sender. The generated message is then signed with a generated private key by the sender. Then, the receiver can verify the authenticity of the sender’s message by matching the signature (via mathematical functions) and the sender’s public key.
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The public and private key concept is used in encrypting data and for digital signatures. A private key is generated from a random number and you must keep it secret. A public key is derived from a private key and it can be displayed on the network. If someone send you a message that is encrypted with your public key, you can decrypt that message with you private key.
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Encryption (private messaging on a open and public network) and digital signatures (identification, integrity)
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Private key (the same key) is used for encryption and decryption; There are two keys in Public keys, one for encryption and another key for decryption.
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cryptography and signature.
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public key is derived from private key. public key is published to the public. Any one that want to send you data over the open channel, will use the public key to encrypt the data, and only the entity with private key can decrpyt the data into its original format.
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First is to send encrypted data to the private key owner so he/she can read the encrypted data. Second is private key owner sign the data with private key, and anyone with public key can verify that the data is coming from private key owner.
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The concept of keys in this context could be described in the following way. A Private key is a particular input that when processed through a particular algorithm, produces a result that is referred to as the Public key. The process creates an absolute one way mathematical relationship that doesn’t allow the resulting Public key be used to reveal the Private key.
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Public key cryptography can be used for encrypting information across a network and for verifying the origination information across a network.
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You can use the public key to encrypt something. Then you use the private key to decrypt that thing. The private key is yours and you don’t share it. You do share your public key openly.
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For cryptocurrency to generate for example my bitcoin-adress and for digital signing of documents
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A private key is an astronomically unique and randomly generated identifier that are only know to those that hold them. A public key is an identifier generated by a private key and can be seen by others; public keys can encrypt information that can be decrypted by private keys.
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Two use-cases for public key cryptography include digital signatures allowing for secure identification and unbroken integrity along with the communication of information through encryption and decryptiion.
- Describe the concept of public and private key with your own words.
when you get a wallet, your computer will generate two random keys for you. One of the keys is “public,” and the other key is “private.” The “public key” is derived from your “private key,” and can given out to the “public” to receive funds for whatever reason. The private key is meant to be kept safe so that no one authenticates messages on your behalf because they got access to your private key, and therefore have control over your digital signature. A public key can be seen by anyone, but a private key can decrypt a message. - What 2 use-cases can public key cryptography be used for?
Public keys can be used for encryption (no way to derive private key from public) and to use digital signatures to send funds.
- A public key is publically displayed while the private key is kept hidden. A public key is derived from a private key via a hash function. This is a one-way process. The private key cannot be obtained from the public key.
- Encryption and digital signatures. In the former a public key is used by others to encrypt a message such that only the person with the private key can decrypt it. In the latter, the private key is used to sign a message such that other can verify that it was indeed you who signed it by using your public key.
Describe the concept of public and private key with your own words.
To make a wallet a private key is created as the computer generated a random number. Then a public key is created from the private key. From the public key a bitcoin address is created. When Bitcoin first came out it didn’t have this final step as it just used the public key. This was latter changed to provide even stronger security.
What 2 use-cases can public key cryptography be used for?
- Encryption, this is used when we have other spectators on the network.
- Digital signatures identity integrity, is all about digital integrate, how can you verify that Alice sent the payment to Bob. Each wallet is based on the public and private pair.
1. Describe the concept of public and private key with your own words.
A public key is publicly visible and is generated from the private key
A private key cannot be generated from a public key.
But via mathematics it is possible to know different (signed)messages originated from the same private key
2. What 2 use-cases can public key cryptography be used for?
Private messaging using cryptography
Signing data
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A public key is open for everyone to see on the network. Like driving by a house and seeing the address sign posted on the house. A private key is the key you hold on your keychain that let’s you into your home. Please don’t give it to everyone or hang it on your home’s address sign😁.
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Public key cryptography can be used for relaying the Alice’s private key signature to Bob and Bob’s public key can receive Alice’s signature and message. Encryption and digital signatures.
- To secure messages sent through unsecure channels.
- Encryption and digital signature.
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Describe the concept of public and private key with your own words.
The public key is for users of the network to encrypt the data / message and send to the specific user, and decrypt the data / message sent by that user. It is supposed to be publicly available such that everyone on the network could access it and use it. Private key of a specific user is for encrypting the data / message to be sent to other users of the network, and decrypt the data / message received from them. This must be keep private and not accessible except that particular user, such that only he or she could decrypt the secret supposed to be for him / her. -
What 2 use-cases can public key cryptography be used for?
Encryption and Digital Signatures.
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By creating a crypto wallet you are assigned a random number which is your private key. This private key can be hashed into a different number which is your public key. It is only possible to go from a private key to a public key and not the other way around. The public key is open very anyone to see and can be used as an address to send crypto to.
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First is the encryption of messages. The second is to personally sign transactions.