In symmetric encryption, a single key is used which can encrypt plaintext into ciphertext as well as decrypt ciphertext into plaintext. This technique is faster due to the fact that key length is small and it is easier to execute because of a single key for both encryption and decryption.
Although, it is an old encryption method and there are good chances of the key getting stolen.
Here are some practical uses of Symmetric Encryption:
In the banking sector, there is a huge amount of Personal Identifiable Information(PII) stored on their servers. To avoid identity theft and fraudulent activities also considering cost of resources, symmetric encryption is used due to ease of execution and low resource utilization.
When data is not in transit between networks and devices, it is known as data at rest. This data is encrypted using symmetric encryption due to speed being a priority.
In asymmetric encryption, a key is used to encrypt plaintext into ciphertext and another key is used to decrypt ciphertext into plaintext. The public key which is shared publicly is used for encryption whereas the private key which is kept secret by authorized users is used for decryption. Asymmetric encryption is safer than symmetric encryption because two keys are used.These keys are very large in length hence they require high resource utilization. This makes the whole process slower than symmetric encryption. Here are some practical uses of Asymmetric Encryption:
Digital signatures are used to verify a document,message and a software’s authenticity along with data integrity and non-repudiation.
Asymmetric encryption is the foundation for blockchain as it is used for authentication of transaction and identity management. Individuals don’t have to reveal their true identity; rather are identified by an address derived from public keys with their respective private keys
In the case of end to end encryption messaging applications like whatsapp, both symmetric and asymmetric encryptions are used. While establishing connection between two users asymmetric encryption is used to initialize conversation and during the conversation symmetric encryption is used as it is a faster method and easier to implement.