Providing here the Symmetric encryption

AES_Encrypt

Parameters:

1. Input : plaintext – string
2. Input : saltKey – key provide here for encryption
3. Input : VI - Initialization Vector
4. Output : cipherText – encrypted text

AES_Decrypt

Parameters:

1. Input : cipherText – encrypted text
2. Input : saltKey – key provide here for encryption
3. Input : VI - Initialization Vector
4. Output : plaintext – string

Demo Screen :

n this article we will talk about symmetric encryption in banking, its advantages and some challenges of managing the keys.

Symmetric encryption

Symmetric encryption is a type of encryption where only one key (a secret key) is used to both encrypt and decrypt electronic information. The entities communicating via symmetric encryption must exchange the key so that it can be used in the decryption process. This encryption method differs from asymmetric encryption where a pair of keys, one public and one private, is used to encrypt and decrypt messages.

There are two types of symmetric encryption algorithms:

Block algorithms. Set lengths of bits are encrypted in blocks of electronic data with the use of a specific secret key. As the data is being encrypted, the system holds the data in its memory as it waits for complete blocks.

Stream algorithms. Data is encrypted as it streams instead of being retained in the system’s memory.

Some examples of symmetric encryption algorithms include:

1. AES (Advanced Encryption Standard)
2. DES (Data Encryption Standard)
3. IDEA (International Data Encryption Algorithm)
4. Blowfish (Drop-in replacement for DES or IDEA)
5. RC4 (Rivest Cipher 4)
6. RC5 (Rivest Cipher 5)
7. RC6 (Rivest Cipher 6 
8. We are using the AES (Advanced Encryption Standard) :

Encryption using Salt Value [Symmetric encryption]

Encryption is the method by which information is converted into secret code that hides the information's true meaning. The science of encrypting and decrypting information is called cryptography. In computing, unencrypted data is also known as plaintext, and encrypted data is called ciphertext.

Decryption using Salt Value [Symmetric encryption]

The conversion of encrypted data into its original form is called Decryption. It is generally a reverse process of encryption. It decodes the encrypted information so that an authorized user can only decrypt the data because decryption requires a secret key or password.