Cryptography: Unveiling the Different Types

BlogsFinTechCryptography: Unveiling the Different Types

Digitalization has benefited us in many ways, including the process of knowledge exchange digitally and securing exchanged components at the same time. Cryptography is a mechanism offered by digital transformation that encrypts communication with codes in order to control its access.

The practice can be leveraged to provide security to digital currencies, cards, passwords, browsing history, etc. An example of this process is withdrawing cash from ATM machines. It simply restricts third parties to access information between two parties. In this blog, we shall learn about the practice of cryptography, its types, and its advantages. 

What is Cryptography?

Cryptography is a process that secures communication and data on vulnerable systems or networks. It works in a technical way of converting plain text consisting of communicable information into the form of ciphers to activate encryption and decryption parameters. This coding milestone mechanism uses algorithms and encryption keys of 128-bit and 256-bit.

The chief goal of cryptography is to confine access to information or messages to the individual it has been sent. In the process of attaining its goal, the mechanism utilizes different codes formulated using various aspects of mathematics, computer science, statistics, and engineering.

Historically, this method of using codes for security has been practiced since ancient times when people encrypted secrets or important information with codes so that others could not reach or understand it. Nevertheless, it was not practiced on digital platforms back then, which is the contemporary method of leveraging cryptography.

The process offers confidentiality of information within the individual it is intended to, maintaining the integrity of the message that cannot be modified after sending. It also provides authentication between the sender and receiver of a message. 

Types of Cryptographic Techniques

Cryptography: Unveiling the Different Types

Two segments of Cryptography:-

  • Symmetric key encryption

The symmetric key of the cryptographic technique defines the method when the initiator and the receiver of a message use a common code to encrypt and decrypt it. 3DES, AES, and DES, are specimens of symmetric key encryption practices.

The most straightforward and fastest crypto method that allows the disseminator of a message and the predetermining receiver to process it with a single key.

  • Asymmetric key encryption

This method uses a couple of codes. One to encrypt the information at the sender’s end and another to decrypt it by the receiver. The receiver uses their private code to decrypt the information and public code to encrypt it.

The intention behind such a method is to highlight that only the receiver can access the message with their private key. Diffie-Hellman, RSA, and ECC are examples of asymmetric cryptographic algorithms. 

Though there are other categories of cryptographic techniques, such as hashing, quantum cryptographic technique, steganography, public key cryptography, and homomorphic encryption, their practices are not that significant.  

Advantages of Cryptography

Cryptography is an important process to protect data and information from cyber threats. There are multiple advantages of this practice; we’ve listed a few below- 

Protected communication: 

Communication on digital platforms is always risky from the perspective of illegal data breaches. Cryptographic techniques eliminate such risks by encrypting information with specific codes. Hence, users can communicate with anyone they want without worrying about unwanted data revelation to third parties. 

Solid security defense against threats:

Information encrypted with crypto methods only allows individuals to whom the message has been sent to access it. Additionally, this protective measure ensures that sensitive data remains secure and inaccessible to unauthorized individuals. Furthermore, by implementing these safeguards, organizations can maintain the security of their data and protect them from financial and reputational damage. As a result, the risk of illegal data breaches.

Concluding Remarks!

Cryptographic practices are superior ways of securing communication between two parties where third parties cannot interfere unnecessarily. cryptography algorithms are easier and safeguarded as it encourage using particular keys and codes that are known only to the sender and receiver of the information.

There are two major segments of this code-encrypted security method: symmetric and asymmetric cryptography, which use different code utilization methods to protect two-way communication from the threats of unauthenticated access. Though such mechanisms have multiple advantages, limitations are also there.

Key or code management can create a huge risk in cryptographic activities. Thereafter, In case of theft, individuals can end up losing their codes to third parties. Securing communication at such moments can become problematic. While applying cryptography, ensure maintaining extra safety. Stay informed and reach out to us to know about further tech practices.

Know More:

Blockchain vs Cryptocurrency: Difference between the two

Unveiling the Types of Blockchain Networks

Related Blogs