Encryption

Many different mathematical methods and schemes are used to process data to enable private communication and protect stored data. As it relates to cryptocurrency, encryption is a principal security method used to protect blockchain data and most notable keys. In this scenario, encryption combines un-encrypted plain text with a shorter string of random text called a “key” to produce a new output called a “ciphertext”. This output can then be “decrypted” back to the original plaintext message to any party that holds the key.