What impact does the choice between asymmetric and symmetric encryption have on the security of digital currency transactions?

1 answers

• May 01, 2022 · 3 years ago
  The choice between asymmetric and symmetric encryption has a significant impact on the security of digital currency transactions. Asymmetric encryption, with its use of a public key and a private key, provides a higher level of security as the private key is kept secret. This means that even if the public key is compromised, the data remains secure. On the other hand, symmetric encryption, which uses a single key for both encryption and decryption, poses a higher risk as the same key is vulnerable to attacks. Therefore, it is important to consider the security implications when deciding between asymmetric and symmetric encryption for digital currency transactions.
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