Homework on Public and Private Keys - Questions

Blockchain and Bitcoin 101
#62

Homework on Public and Private Keys - Questions

  1. Describe the concept of public and private key with your own words. The private key is secrete. The private key must be protected or else whomever holds the key can decrepit whatever the key opens. In the case of a message. When a private key is created, a public key is generated from the private key. The public key is exposed to the public; however when the public key is encrypted only the private key can decrypt the message. Anyone can use the public key to encrypt a message but only the private key that was derived from the public key can decrypt the message. If the private key is lost or stolen then the person who has the private key can decrypt the message.
  2. What 2 use-cases can public key cryptography be used for? 1) Encryption - to send something secrete. 2) Digital signatures to identify yourself and verify the integrity of the message that it was sent by the person that actually sent the message and no one else.
#63

Public key is derived from private key. Private key is a unique set of numbers only known to the wallet of the owner. A bitcoin address is created based on the public key derived from private key.

The two cases are for digital signature and to encryptions of public key derived from private key.

#64

1.From a (computer generated) number (your private key) you can generate a hash (your public key). This is a one way action.
2. Digital signatures (like used in bitcoin) or to encrypt private messages send over a public network.

#65

Private keys are used to generate public keys, public keys are used to generate bitcoin address’s.
Private keys are the control of your (bitcoin or coins),

2 common use cases for public keys are for Digital Signatures (bitcoin) and encryption.

#66

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

  • The computer generates a random number which acts as the private key. Based on that number, an algorithm is used to generate the public key.
    As in the case of hash functions, this is a one way function and it should be impossible for the public key to point to the private key.

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

  • public keys are used for encripting messages and also for confirming digital signatures.
#67

  1. Public and private keys are paired.A public key can only be derived from a private key,but a private key cannot be derived from a public key. A private key is encrypted a public key is not. A public key is visible to everyone but a private is only visible to the owner of the private key.

  2. Cryptocurrencies and digital signatures.

#68
  1. Describe the concept of public and private key with your own words.
  2. What 2 use-cases can public key cryptography be used for?
    1. A private key is a randomly generated number, which is used to make a public key which can be published with a minimal risk of deciphering the private key. Another user can use the public key to encrypt their message, which only the original private key can decrypt.
    1. It can be used for private encryption to send a message on a public network, and it can be used to verify the identity of the sender.
#69

  1. Describe the concept of public and private key with your own words.
    The private key is generated by a random number which in turn generates a public key and bitcoin address. This is a one way function in such that the private key cannot be determined from knowing the address or public key. The private key is used to sign transactions and whoever has this information has access to the account.

  2. What 2 use-cases can public key cryptography be used for?
    Two use cases are for Encryption and Digital Signatures.

#70

Public keys can be seen by anyone to lock or encode a message and a private key is the only key that can open or decode a message sent with its corresponding public key
This can be used for encryption and digital signatures

#71

  1. the private key is a secret number that you computer generates that is used as a digital signature. It is also used to create a public key that other people can see and use. But you can’t know what the private key is using the public key. it is a one way system no going back.

  2. sending private messages and digital signatures

#72

  1. Public keys are can be used to send encrypted messages with your private key.

  2. Encrypted messages and digital signing.

#73
  1. Private key is as the name implies, private to you. That is your signature in the blockchain. It should be private to you. You use your private keys to sign transactions. Anyone that has access to your private key has got access to your digital asset and money. Public keys are at the core of Cryptography created from Private Keys. The public can see your private key because it is public but they cannot access your account with it. Your bitcoin address which is what you can give out to receive funds is also public and is generated from the Public key. The private key creates the public key and the public key creates the address. At the early stage of bitcoin the public key also served as the address. Someone having your address or public key cannot take anything from your wallet. It’s only with your private key that you can send out from your wallet. No one can go from the public key to the private key, you can only go from the public key to public because it is a one way traffic. Anyone can see the public key. But upon encryption, the public key will not make meaning to anyone else except the person it is encrypted for. The encryption can only be decrypted with a private key.
  2. The 2 Use-cases that Public key cryptography can be used are Encryption (protect your information from public view) and Digital Signature for identification.
#74

  1. A private key can generate a public key for others to interact with.

  2. For private messaging and data sharing.

#75

1. Describe the concept of public and private key with your own words.
A private key is a randomly generated large number from which a public key is generated. The private key is kept secret and is used to sign messages or send cryptocurrencies. The public key is there to everyone to see and can be used to receive cryptocurrencies for example.
2. What 2 use-cases can public key cryptography be used for?
Encryption and digital signatures.

#76

Public keys are used to send data, information or value in a secure manner to someone or to the blockchain by encryption
To read the data sent a private key is require which originally hashed the public key
This private key is used to reverse the encryption

Public keys cryptography can be used in sending public emails
And using digital signatures for identity of documents ie legal documents, drawings, photos

#77

  1. Describe the concept of public and private key with your own words.
    Cryptography uses public and private key pairs. A private key is randomly generated by a user’s computer and is unique to them and must be kept private at all times. A public key is derived from that private key and is shared publicly to enable people to send you encrypted messages or verify your signature. It is impossible to derive someone’s private key from their public key.

  2. What 2 use-cases can public key cryptography be used for?
    a. Encryption - This aspect of cryptography allows party A to send party B a message that has been encrypted using party B’s public key. Only party B is able to decrypt the message by using their private key to do so.
    b. Digital signing - Cryptocurrencies require a digital wallet address in which to store funds/data. This address is derived from a user’s public key, which was itself derived from their private key. When a user makes a transaction from their wallet, the private key is used to digitally sign the transaction and recipients can verify the integrity of the signature based on the public address of the wallet. At no point is the private and public key exposed in this scenario.

#78

  1. A bitcoin wallet basically is the private key, which is generated through a function. The public key is generated from the private key using a one-way function. Bitcoin can go one step further and generate an address from the public key with another one-way function. This adds another layer of security, because you can keep your public key private as well. So an entire bitcoin wallet will consist of the private key, the public key and the adress. All of the keys are practically unique, because the chances of generating the same key twice are lower than the universe collapsing (Ivan’s words, not mine). Should it ever happen, both will contain the same bitcoins.

  2. Public key cryptography can be used to either sign a message or encrypt a message. There is no way to derive the private key from a public key.

#79

  1. Public and private keys are a unique pairing of two strings. The public key sends or receives (as in your address) and the private key decrypts/confirms/authorizes (as in your signature).

  2. Encryption and digital signature.

#80

  1. A public key is safe to broadcast on the internet or wherever. It is derived from the private key and the address is derived from the public key. The private key is used for signatures (somehow) and is what anyone needs to own your bitcoin.

  2. signing transactions and verifying digital signatures.

#81

  1. The concept of Private and Public key is to allow exchanges of information between two parties away from prying eyes. A randomly generated pair of keys ( private and public ) are used to encrypt and decrypt messages. The public key which is derived from a private key is given to anyone who wishes to send private information across the network which eventually the private key is used to de-crypt the encrypted messages.

  2. The 2 use-cases for public key cryptography is encryption and digital signature.