An encryption method that uses a two-part key: one private; the other public. To send an encrypted message to someone, the recipient's public key is used, which can be published anywhere or sent openly via email. When the message arrives, the recipient uses his or her private key, which is always kept secret.
The World of Crypto
Blockchain-based cryptocurrencies are based on this method. Crypto is sent to the public key of the recipients, who use their private keys to "unlock" the transactions. See cryptocurrency
Not Secret Key
Public key cryptography is not "secret-key cryptography," which uses the same key to encrypt and decrypt. The advantage of public key cryptography is that the public key can be published anywhere and transmitted in the open. The secret key method requires that both sides use the same key, which obviously cannot be freely published. However, public key cryptography is often used to send the secret key to the receiving end and then exchange data via secret keys. See cryptography
Digital Signatures Start With the Private Key
To create a digital signature that ensures the integrity of a message, document or other file, the signer's private key is used to encrypt the message digest. To verify the signature, the signer's public key is used to decrypt the signature back into the digest and compare it with a newly generated digest.
Cryptocurrency payments are digitally signed by senders using their private keys and verified by the receivers using the senders' public keys. See digital signature
Sending a Private Message
The woman computes a digest of the message and signs it with her private key. She then encrypts both message and signature with the man's public key and sends it. The man decrypts message and signature with his private key and then decrypts the signature back into the original digest with the woman's public key. The last step computes a digest from the message body and compares the two digests.