Crypto assets use cryptographic technology as the basis of crypto assets to secure transactions and ensure the privacy of its users. Cryptography itself is the science of methods to secure information by converting information that can be read, into a form that cannot be read. With this, confidential information such as passwords, credit cards and personal data can be protected. Cryptography is needed in various fields such as communication, network security and of course crypto assets.

Types of cryptography

1. Symmetric Cryptography
Symmetric cryptography uses the same key to encrypt and decrypt information. This type is fast and efficient. However, this key must be shared with a trusted party for the information to be readable.

2. Asymmetric Cryptography
This type of cryptography is also known as public key cryptography. It uses different key pairs to encrypt and decrypt information. The public key is used to encrypt the information and the private key is used to decrypt the information. This type of cryptography is more secure, as the private key does not need to be shared with other parties.

Cryptographic algorithms were developed in 1977 and are still in use today. There are also other algorithms such as AES which is used in symmetric cryptography and elliptic curve cryptography (ECC) which is used in asymmetric cryptography. Blockchain itself also uses cryptography. To secure transactions and store information in an immutable form. Security protocols such as https and ssl use cryptography to safeguard information from theft of data sent over the network.