Asymmetric Encryption

Asymmetric encryption, also known as public-key cryptography, is a cryptographic method that uses a pair of related keys for encryption and decryption. One key is public and can be shared openly, while the other key is private and must be kept confidential. Data encrypted with the public key can only be decrypted using the corresponding private key, and vice versa. Asymmetric encryption is efficient for secure communication and digital signatures, offering enhanced security compared to symmetric encryption. It enables secure key exchange and identity verification without requiring a shared secret key. Asymmetric encryption in Web3 is fundamental for creating secure wallets, verifying digital signatures, and ensuring secure interactions with smart contracts and blockchain transactions, without the need for sharing sensitive private keys.