Homework on Public and Private Keys - Questions

Blockchain and Bitcoin 101
#1752
  1. The PRIVATE KEY is a key generated by your pc from which a public key can be derived via a formula mathematically making the 2 keys relevant to one another.

Private key is exclusive to the owner unless it is stolen from/lost by the owner.
Private keys act as Digital John Hancocks, fingerprint, rubber stamp, wax seal, etc
Private keys are decrypters of messages encrypted using the public key derived from the particular private key.
Private key also facilitates identification verification of anything sent.
Private key leads to Public key
Public key CANNOT lead to the Private key.
Public keys lead to a private box which only the private key can open.
Public keys are available for anyone or to those whom it has been made available to see .
Public keys allow anyone with access to it, which is everyone, to encrypt a message for purposes of discretion.

Encryption
Digital Signatures

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#1753
  • A public key is generated from your private key. Others can see your public key and send money there (for example), but only you can access with your private key. Private key decrypts the encrypted message.
    1. encryption and 2. digital signatures
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#1754
  1. The public/private key works by the user having a unique private key that decodes a corresponding public key. The public key is available to the public to encrypt a message which can only be decrypted by the private key. Two users could exchange encrypted messages by using each others public keys.
  2. The first case is data encryption where the sender encrypts data using someones public key and sends it to them to decrypt with their private key.
    The second case is using public/private keys to verify the identity of the data sender. As a sender you can include your private key in a message to be cross referenced with your public key by the receiver.
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#1755

  1. Public & Private keys leverage the utility of hash functions by providing users a (private) key to access information and a (public) key to receive information on an open network. This way the information is secure and private on an open network.

  2. Public key cryptography can be used to securely send and receive information on an open network and in case of bitcoin, it allows people to keep their monetary value secure on an open network during transactions and because of private keys it also allows people to keep their monetary value in their own possession instead of in a bank.

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#1756
  • The private key is a random number from which a public key is derived by a one-way cryptographic function. The public key can be shared every where because it cannot be used to deduce the private key.
  • Digital signatures and encryption.
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#1757

1)Private key is a secret that no one will know unless it is leaked to the community. Public key is a key that is visible for everyone to see.
2)1st use cases is for encryption.It is where the use of private and public key to decrypt a message. 2nd use case is digital signatures. When sending a message, the sender will use its private key to sign the message and the receiver can use the sender’s public key to verify.

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#1758

1 Describe the concept of public and private key with your own words.
A private key is your unique digital signature whereas the public key, which is generated from the private key, is your public address

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

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#1759

Homework on Public and Private Keys - Questions

  1. Describe the concept of public and private key with your own words.
  • Your public key is generated by your private key and can be used publicly to link back to your private key.
  1. What 2 use-cases can public key cryptography be used for?
  • 2 use-cases for public keys are for encrypting and for use as digital signatures.
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#1760

  1. The private key signs transactions and holds the crypto. The public key is generated from the private key to encrypt it so people cannot see the private key. The public key can be seen by anyone and can receive transaction on behalf of the private key.

  2. encryption: Hiding the message being sent so others cannot see it
    Digital signature: a way to identify that its you

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#1761

  1. One analogy of public and private keys in cryptography can be compared to a physical home address that anybody can look up and find but the key to unlock that home is held by the property owner and only that person. If the private “key” was compromised your property is also compromised. You can not derive the private key from the public key just as you can not feasibly reconstruct a physical key to unlock the physical home by utilizing the physical home address.

  2. Two use cases of public key cryptography are for Encryption and digital signatures.

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#1762
  1. Private key is only known to me, public key is seen publicly to anyone. Public key is mathematically processed from Private key, and cannot be done the other way. An encrypted message can be seen and proven to be from the right sender by comparing them and ensuring that this Public key is owned by this Private key.
  2. Encryption and digital signature. Sending a digital asset and
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#1763

  1. Describe the concept of public and private key with your own words.
    Public key is derived from private key. The formen is visible to everyone, the later is only known to its owne, or equivalent to password. And for obvious reason, if private key is shared or loss, the owner also loses her cryptocurrencies.

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

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#1764
  1. Describe the concept of public and private key with your own words.

Private key is comes from a random number by the computer, a public key is derived from the private key using a mathematical formula, public key is out on the open anyone can use it to encrypt and send you messages.

The private is only for the owner of the key, should be kept away from everyone, and is used to decrypt a message

Also private is what you use to digital sign a message, showing that the message came from the real person

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

Encryption and digital signatures

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#1765

  1. The private key is a randomly generated number. Using the private key a mathematical formula generates a public key. This public key can be shared with anyone. It is the private key that needs to be kept secure.

  2. The public key can be used to encrypt messages that can only be decrypted with the subsequent private key. These key pairs can also be used to sign and verify messages.

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#1766

Describe the concept of public and private key with your own words.
Private key is generated by a random number, with a length of 256-bits (in bitcoin), and acts as the password to unlock your account and make transactions.

The public key is generated mathematically through the private key (by elliptic Curve secp256k1). Acts as an account number to receive transactions from other users

Private and public key and are related, but the private key cannot be derived from the public key.

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

  • Information encryption
  • Digital signature (identity, integrity) (usage in bitcoin blockchain)
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#1767

  1. A private and public key are a random number and a hash of that random number.

  2. Two use cases are for sending encrypted messages and digitally signing a message/transaction.

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#1768
  1. Public and private key pairs are used to encrypt and decrypt a transaction for security purposes.
  2. Cryptography is used when transmitting sensitive information through a network. It is also used when you are using a public network like the internet forums, etc but you need to ensure that the message is sent/received by the intended receiver and vice versa (digital signature)
#1769

  • Describe the concept of public and private key with your own words.
    The Public key can derived from the private key the private key is used to create the public key which is then used to create the bitcoin address.

  • What 2 use-cases can public key cryptography be used for?
    It can be used for 1. encrypting and decrytping messages. 2. sending and receiving crypto currencies between people.

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#1770

What do you mean by a hash of that number? How do we get the public key?

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#1771
  1. We don’t encrypt data in order to send transactions in bitcoin, instead, we use digital signatures. With the help of digital signatures, we can prove to the miners that we are the owner of the funds associated with a public address, without them ever knowing our private key.
  1. Yes, we use private and public key cryptography in order to transmit sensitive information over a public network. We call this encryption. However, digital signatures work in the opposite way. You sign the message with your private key so that anyone can verify your message with your public key. This way we can be sure that the message was truly sent by the owner of the private key.
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