Blockchain 101 Episode 60 – What is Asymmetrical Cryptography?

Asymmetrical cryptography uses the same pair of keys for encryption and decryption. Differing from symmetric key algorithms, asymmetrical cryptography requires the use of public keys and private keys.

A set or pair of keys consists of a public key and a private key. Messages encrypted using the public key can only be decrypted by the paired private key. Asymmetrical cryptography is more secure than symmetric key algorithms.

In symmetric key algorithms, both parties share the same secret key. If one party’s secret key is exposed, it would compromise the encryption.

Asymmetrical cryptography uses a pair of keys, one for encryption and one for decryption.

The public key is widely accessible while the private key is known only to the owner. There is no need to exchange private keys prior to transacting, therefore preventing data theft by hackers.