Public Vs. Private Keys

The public key is used to encrypt the data. As it can be openly distributed, it’s called a public key. Once a public key encrypts the data, no one can use the public key to decrypt the data. On the other hand, the private key is used to decrypt the data. As it can’t be openly distributed but needs to be kept a secret, that’s why it’s called a private key. In symmetric cryptography, the private key can encrypt and decrypt data.

Public and private keys both have their special objectives and uses in cryptography. As for public vs. private keys, we will discuss some key factors to better understand the situation. These are - working mechanism, performance, visibility, type, sharing, and storing.

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https://101blockchains.com/public-key-cryptography/

1. PUBLIC VS. PRIVATE KEYS
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2. What Is a
Public Key?
In asymmetric cryptography, the
public key is used to encrypt the
data. As it can be openly
distributed, it’s called a public
key.
Once a public key encrypts the
data, no one can use the public
key to decrypt the data. Typically,
the key size may vary from 128
bits to 4096 bits. There are
various algorithms used to create
the public key.

3. Application of Public Key Encryption
Verify Digital Signatures
Secure P2P Communications
Allow Password-Authenticated
Key Agreement

4. Verify Digital
Signatures
For digitally signing a message or
a contract, using public-key
encryption is the best choice.
Public key encryption allows the
user to use their private key to
sign the message.
The receiver can then use the
sender’s public key to verify the
signature of the sender.

5. Secure P2P
Communications
Public key cryptography is
necessary to maintain a secure
channel of communication
between two parties.
Here, the sender can use the
receiver’s public key to encrypt a
message. The receiver will then
use his/her private key to decrypt
the message.

6. Allow Password-
Authenticated Key
Agreement Password-Authenticated Key
Agreement allows parties to
generate cryptographic keys
based on one of the party’s or
multiple party’s passwords.
Here, if the sender can use the
receiver’s password to generate a
private key and use that to
encrypt the message, the receiver
can use their own password to
see it.

7. What Is a
Private Key?
In asymmetric cryptography, the
private key is used to decrypt the
data. As it can’t be openly
distributed but needs to be kept
a secret, that’s why it’s called a
private key.
In symmetric cryptography, the
private key can encrypt and
decrypt data. It’s not possible to
recreate a private key from the
corresponding public key.

8. Crucial Points of Private Key
Generating the Key Pair
Storing the Private Key
Exchanging the Private Key
Key Management

9. Generating the
Key Pair
For this process, randomness is
necessary. Here, users utilize
encryption software to generate
these key pairs.
The software application will use
any form of randomness to
generate the keys.

10. Storing the
Private Key
After generating the private key,
users have to store these securely.
Users can store it offline or on a
device that was used to encrypt,
decrypt, and generate the key
pairs.
Using additional security like
passwords or encrypting the
private key can help in keeping it
a secret.

11. Exchanging the
Private Key
Users should never share their
private key with anyone.
In asymmetric cryptography, the
private key needs to be a secret. If
any other party gets access to the
key they can steal your tokens
and files.

12. Key
Management
There are some key pairs that
come with an expiration date.
Therefore, it’s crucial to have key
management in order to
maintain access.
You can’t use expired keys to
authenticate anything. Therefore,
it’s best practice to create a new
key pair before the expiration
date.

13. Private Key
Working Mechanism
Performance
Visibility
Type
Sharing
In symmetric cryptography – can
encrypt and decrypt; In asymmetric
cryptography – can only decrypt
Faster
Needs to be kept secret
The private key encryption and
decryption process is called symmetric
cryptography.
In asymmetric cryptography – can’t be
shared

It can only encrypt the data
Slower
Can be made public and free to
use
The public key encryption and
decryption process is called
asymmetric cryptography
Users can share the public key with anyone
Public vs. Private Keys: Differences
Public Key
Storing
Can be stored in private servers and
authorized devices
Can be stored anywhere

14. Working
Mechanism
A private key can be used in both
encryption and decryption based
on the type of cryptography. In
symmetric cryptography, the
private key can encrypt and
decrypt. In asymmetric
cryptography, the private key can
only decrypt.
On the other hand, the public key
can encrypt the data in
asymmetric cryptography. To
decrypt the data, one needs to use
a private key.

15. Type
The private key encryption and
decryption process is called
symmetric cryptography. Here, a
single key is used within two
parties.
On the other hand, the public key
encryption and decryption process
is called asymmetric cryptography,
as there are two keys with different
objectives.

16. Performance
The private key encryption is a fast
process. As there is only one single
key usage in the encryption and
decryption process, it takes less
time to process it.
On the other hand, public-key
encryption is a slow process. It
requires a key pair to encrypt and
decrypt the data, and the process
is a bit complex, which takes more
time. Although, public-key
encryption is more secured.

17. Visibility
In asymmetric cryptography, the
private key is kept secret, and only
the owner will have access to it.
On the other hand, in asymmetric
cryptography, the public key is visible
to anyone, and anyone can use that
key to encrypt data.

18. Sharing
In asymmetric cryptography, the
private key can’t be shared with
any other party.
One can share the “public key” with
any party. There are no restrictions
here.

19. Storing For storing purposes, users need to
store their private keys safely. They
can store it on authorized devices
or store it on any private server with
high security in place.
Storing public keys within outgoing
emails, digital certificates, etc., are
common practice. It can be stored
anywhere the owner wants.

20. Learn More About Public
and Private Key
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