Encryption is a means of scrambling data and protecting it from unauthorized third parties. Encryption can help businesses protect their information and stay compliant with regulatory requirements. Read on to learn more about encryption and how to use it to protect your business. The best way to protect confidential data in the modern world.
Encryption is a way of scrambling data
Encryption is the process of scrambling data so that it cannot read by anyone without the corresponding encryption key. It protects sensitive information from hackers and other online snoops. It also secures data on devices. This could include text messages on your phone, fitness tracker data, and bank account information sent through the internet.
Two Types of Encryption
There are two types of encryptions: symmetric encryption and asymmetric encryption. Symmetric encryption requires that two parties share a key that is mathematically impossible to crack. This method is considered to more secure than asymmetric encryption, but it is slightly slower.
Encryption Process Uses a Set of Algorithms
The encryption process uses a set of algorithms to create a secret code that hides the true meaning of information. Cryptography has the science behind this process. Unencrypted data has referred to as plaintext. Encrypted data has called ciphertext. The algorithm that creates the cipher or encryption key determines how the message will encrypted and decoded.
Large Organizations
Encryption has often used in large organizations. It allows them to function without risking fines or data leaks. For example, a healthcare provider could in huge trouble if their patient information has leaked to a third party. While encryption can slow down the transmission of data, it has relatively fast when compared to other methods of data transmission.
Increase the Security of Data in Transit
When encryption has used to protect data in transit, it can increase the security of data in transit and at rest. However, it leaves encrypted data vulnerable on the storage device. Unauthorized people or malware can attack data on the storage device. A common attack method has a brute force attack. This method randomly attempts different keys until it finds the one that matches the data. The key size affects the success rate of this attack, and the longer the key has, the greater the computational resources required to run the attack.
It Protects Data from Being Accessed by Unauthorized Third Parties
Encryption has a common method used to protect information from being accessed by unauthorized third parties. It can used to protect sensitive data at rest or in transit. It has crucial for businesses to protect sensitive data because leaking it could damage a business’s reputation and economic health. In addition, the loss of trade secrets or intellectual property can negatively impact a business’s profitability. Many consumers also place great importance on the safety of their information. In fact, 75% of consumers say they won’t buy from a company unless they can certain that their information is protected.
Complex Algorithms
Encryption works by concealing data through complex algorithms. The recipient of the data has then given a cipher key that unlocks the data. Only authorized individuals should know this key. This ensures that unauthorized users will not able to read or intercept data.
It Helps Businesses Stay Compliant with Regulatory Requirements
The increasing threat of cybercriminals has spurred the need for businesses to implement security measures. Among the regulations that require businesses to implement security measures have HIPAA (Health Insurance Portability and Accountability Act) and FERPA (Fair Credit Practices Act). Encryption has one of the most effective ways to protect customer data and remain compliant.
