What is Encryption: A Beginner's Guide to Security
Encryption is one of the most common terms that we get to hear in the blockchain industry. When the data on the blockchain is encrypted using multiple encryption technologies, it becomes important for the users to understand how they function.
Encryption not only secures the data of the end user but also acts as the first line of defense for data-centric organizations. In cryptocurrencies, encryption plays an important role in securing the DeFi wallet, on-chain hashes, and other transactional details that must be secured from any external intrusion.
What is Encryption?
What is Encryption?
Encryption is a method of converting readable data into an unreadable or incomprehensible string of characters that can only be reverted back to its original state using a private key. This private key is known only to the participants of the communication and could not be interpreted without the key.
The encryption key is a mathematical or alphanumeric expression stored in a file that one worked upon by an encryption decoder can decode an encrypted file. The encryption key is critical for the security of the file as it can decode the file for anyone having the encryption key.
How Does Encryption Work?
Cryptography is the process of ciphering text or any form of data into incomprehensible or meaningless information that can only make sense when you decrypt the data using its specified keys. These keys are generated at the time of encryption and must be secured to decrypt the data at the right time.
Cryptography is the process of ciphering the data while encryption is the method of packing this information using a private key. Encryption can also be specified into the following categories.
- Symmetric Encryption
- Asymmetric Encryption
Types of Encryption Algorithms
There are multiple encryption algorithms that are used all over the world and in this part of the blog, we are going to share brief introductions to some of the most common encryption methods used today;
- 3DES - 3x Data Encryption Standard Algorithm
- SHA - Secure Hash Algorithm
- AES - Advanced Encryption Standard
Conclusion
Security and privacy were the sole reasons behind the development of blockchain technology. As more people are getting connected to the internet in this world and accessing the cryptos, it becomes important to provide them with a secure environment to operate.
Indisputable credibility in financial transactions and complete privacy of personal data are going to become a major demand in the future. Encryption and cryptography offer a feasible solution to this problem and could become a mandate in the upcoming times.
