Homework on Public and Private Keys - Questions

Blockchain and Bitcoin 101
#1812

Encryption is used for transferring data over an unsecured connection (you decrypt the encrypted data when you want to see it).
You can use digital signatures to identify yourself on the server :slight_smile:

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#1813

  1. Describe the concept of public and private key with your own words.
    This is a way to transact data from one person to another. But in a way that only the receiver can see the data that was send to him/her. The public key derived out of the private key, makes it possible to transact the data from one address to another. The private key makes it possible to sign the transaction (digital signature).

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

  • encryption: to send a secret message

  • Digital signatures: to verify the identity of the entity that is transacting.

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#1814
  1. “Public keys” are generated from a users “Private-Keys” and Private keys cannot be generate from a users public keys. Private keys are kept secret and public keys are shared between transacting parties in order to transfer data or any form value or information in an encrypted form.
  2. Public key cryptography uses cases are 1. Messaging . 2. Digital signatures - verification of the party sending a particular message through private key generation by deriving a public key from the private key and using that key to verify the signature of the party sending the mesage…
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#1815

I learn so much from your illustrations! thank you so much for the visuals!

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#1816
  1. Describe the concept of public and private key with your own words.

Private and public keys are used in digital transactions. The private key, generated by your computer, is a very large and random number. The public key is then generated by that same public key to form a cryptographic pair of keys. The public key is used to encrypt a transaction message and can only be decrypted by the matching private key.

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

    a. Encryption that is the public key is used to encrypt a message that is sent publicly so that no one can read the message except for the holder of the matching private key after it is decrypted with the private key.

    b. A digital signature is derived from the public key. The digital signature verifies that the Bitcoin owner is truthful owner because it is linked by the public key which is derived by the private key.

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#1817

  1. Describe the concept of public and private key with your own words.
    A private key is a random large number that is assigned to you. The private key number is so large that it is unique to only you. A public key is a number that is a combination of your private number and a number so that using an equation you can derive who sent the message and decrypt it.

  2. What 2 use-cases can public key cryptography be used for?
    Sending an encrypted message across a public network this is used by whats app. Sending a digital signature so that only the intended recipient can accept the message this is used in the BTC network.

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#1818

Thanks! I must have misunderstood the example. I thought if wallet A sends a signed transaction to wallet B, wallet B could verify that it came from wallet A using the public key of wallet A.

#1819

Digital signatures are used to verify the sender or creator of the message. :slight_smile:

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#1820

  1. Private keys generate the public signature. You cannot trace back the private key from your public key. This adds a level of security over public networks that everyone can see.

  2. The two main use cases are digital signatures and digital wallets.

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#1821

Public and private keys are cryptography technology that are used to protect the transmission of data over a network. A user generates a private key which is only known to the user and also generates a public key which is made available to anyone wishing to communicate securely with the user.

Two use cases for public key cryptography are privacy of electronic data communication over a network and validation of the source of data transmitted over a network. With regards to privacy, a user can encrypt data so that only the recipient of the message can read the the data transmitted. With regards to the validation of data, a user can digitally sign an electronic data communication to validate the user is the source of the data transmitted.

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#1822

Describe the concept of public and private key with your own words.
Your private key is generated from random numbers. This is exactly what it says, private and needs to be kept safe and not shared with anyone.
The public key is generated through the private key and this can be shared with anyone. The private key cannot be accessed through the public key

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

  1. To encrypt messages on the public network.
  2. As a Digital signature to verify sent and received messages.
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#1823

Wallets utilize digital signatures to unlock your funds on the blockchain :slight_smile: the other use case is encryption

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#1824

1- The public key is as it sounds. It goes to the public to send funds to your wallet. The private key has to be kept private. If anyone gets access to it you could lose your funds.

  1. Encryption and Digital Signatures
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#1825

  1. Public and private keys are almost like a bank account number and your access codes that are used to interact and use your wealth on an account. Even though Bitcoin does not have accounts it has addresses.

  2. Two use cases of public key cryptography

  • Encryption, through the combination of public and private keys. A user can receive funds to their public key from anyone in the world on a wallet generated by the user, whilst the private key is only accessible from the user who generated the wallet.
  • Digital Signatures are a form of digital identification, and the biggest use case of public key cryptography. A user can send a digital signature on the blockchain and the end user can verify that the original sender had true access to the private key that made the digital signature.
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#1826
  1. A private key is a secret id used to create a digital signature, a public key, and any crypto wallets. A private key also allow you access to any funds or assets held within that key.
    A public key is create by you private key and is shared with the world verify that it is you. This public key also acts like a address to deposit funds.

2.It can be used for encrypting messages, for sending funds, and verifying who sent a message/funds.

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#1827
  1. Describe the concept of public and private key with your own words. The private key pretty much is the key that holds all the power as you need it to control your funds. It should never be seen but is important you know it because it’s the key to using your public key, which is the key that proves your identity and is the one that can be seen
  2. What 2 use-cases can public key cryptography be used for? The public key can be used to encrypt messages and sign digital signatures
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#1828

Homework on Public and Private Keys - Questions

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

A way for the public to be able to send data encrypted that can only be read by the private key holder.

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

Encrypting data and signatures.

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#1829

  1. The concept of public and private keys is one aspect of how the blockchain creates trustlessness. The private key is a freakin really big number, and because of that, leaves little chance in it randomly being figured out. And then it is encrypted into a public key.

  2. In any situation where you would need trust. Like on when buying something from someone on the internet or in another country.

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#1830

  1. Private key is a random number and to be kept secret. Private key then generates the public key through certain functions, that can be shared with others. The private key is not possible to be figured out from the public key.

  2. For encryption, where the sender uses the receiver’s public key, encrypt it together with the sender’s message. On the other end, the receiver can decrypt the message using his/her private key
    For digital signatures, where the sender uses his/her private key to sign on a transaction, it then generate some codes. The receiver are able to verify the sender’s identity from the codes sent from the sender.

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#1831

Encryption means that someone encrypts a message to you and only you can decrypt it using your private key.

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