Messages can be sent and received secretly using public key encryption. Each user can create a pair of keys: a public key and a private key. Two keys are connected logically. However, a private key cannot be derived from a public key in practice.
Messages can be encrypted using a public key, which can only be decoded by the recipient’s private key. With a public key, the intended recipient can verify the identity of the sender if the sender encrypts a message using their private key.
Key management is simplified with public key encryption since keys do not need to be exchanged. It is impossible to decrypt a message once it has been encrypted with a key.
The following are some of the important properties of a public key encryption system:
- Encryption and decryption use different keys.
- Messages are decrypted by recipients using their unique private key.
- Every receiver publishes their public key, which is accessible to everyone.
- To prevent spoofing, a trusted third party verifies that a public key belongs to a particular person or entity.
- In public key encryption, a private key cannot be derived from a public key.
Applications of public key cryptography
E-signatures typically use public key cryptography. Using an e-signature, you can authenticate a user’s identity and ensure the integrity of a document, message, or software. In most cases, businesses use e-signature software to distribute legally sensitive documents and collect digital signatures.
In addition to digital signatures, public key cryptography can be used for a number of other purposes as well.
Web server security
The TLS/SSL cryptography protocol uses public key cryptography to ensure HTTPS security. It protects web servers and clients from cyber attacks like man-in-the-middle attacks, where an attacker intercepts communications and reads their contents. A symmetric encryption key is used to carry out the encryption process in HTTPS, where public-key encryption is used to exchange keys between two parties.
In addition, public key encryption protects senders against man-in-the-middle attacks by enabling them to verify the identity of the sender and receiver. The security of a web server also provides an advantage in ranking websites higher on search engines such as Google or Bing.
Identity authentication
In the age of cloud computing, mobile devices, Internet of Things (IoT) devices, and other technologies, it is increasingly important for businesses to protect their identities. To prevent brute force attacks, organizations can use digital identity certificates and replace passwords with public key cryptography.
Email encryption
In email encryption, public key cryptography is used to authenticate and encrypt messages. This helps protect the message from malicious hackers or unauthorized entities. The encryption of emails prevents an attacker from seeing the contents of emails even if they crack the password to the mail server.
Email encryption software encrypts the contents and attachments of emails while they’re in transit or stored on a server, and lets you digitally sign them to prove your identity.
To facilitate encryption, secure/multipurpose internet mail extensions (S/MIME) certificates use public key infrastructure to verify digital identity.
Cryptocurrency
Cryptocurrency is more popular than ever, with a global user base numbering over 300 million people. In fact, the latest report from Crypto.com, predicts that the total number of crypto users can reach as high as 1 billion by the end of this year.
Bitcoin wallet and other prominent cryptocurrencies wallets use public key cryptography for transactions. Everyone has a public key, and private keys, which are used to carry out transactions, are kept secret.
Technical experts at Bitcoin Wallet Bitamp suggests:
But, you need to be very careful even if you are aware that downloading a wallet from the wallet’s official website is the right way to do, phishing scams can trick you into visiting a website that was created to look legitimate and then download or use a wallet in order to obtain your private key.
Read the complete article by Bitamp on using private key here.
A public key is linked to unspent transaction outputs (UTXO) in the Bitcoin ledger, for example. User A spends the UTXO linked to user B’s public key when signing a transaction with user B.
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