The term encryption is known to almost every other business. But, how many businesses do actually make use of it or understand why is it required? With an increasing number of companies and consumers falling victim to a wide range of cyber crimes, the need for encryption is at an all-time high.
So what exactly is encryption? Why do businesses need it and how can they secure themselves online? The following tech blog tells you about 11 such things you need to know about encryption.
1. What is encryption?
Encryption is a process of encoding data, which eventually helps you achieve data security. right from passwords, employee databases to other sensitive information, this coding and decoding process can be used.
2. What are a few common encryption terms?
Consider this blog you are reading. Normal words like these that can be read and understood by everyone can be referred to as plain text.
However, when this blog will be encrypted, it can be referred to as ciphertext. The main purpose of this text is to prevent it from unintended parties.
Private key: A private key can be used for encryption as well as decryption. Both the parties need to have the same key in order to achieve secure communication.
Public Key: This type of a key is published and available for anyone to use. Only the intended party will have access to the decryption key which would help it read the message.
Decryption: The process of converting unreadable text into readable text.
3. Alarming statistics about encryption
a. Over 7 billion data records have been lost or stolen since 2013
b. Half of the employees take confidential corporate data with them after leaving a company
c.71% of US enterprises in a survey of 1,200 companies that reported suffering at least one data breach
d. $3.62 million was the average cost of a data breach in 2017
4. How does encryption work?
This process uses algorithms to convert plain text into cipher text. Once the data is converted, it is transmitted to the receiving party, who can then decode it with a key. Today, there are various types of algorithms, which include different ways of scrambling and then decrypting your data.
5. What are the top benefits of using encryption?
• Helps you move to the cloud while ensuring the privacy of your data
• Prevent service providers or third parties from accessing or accidentally exposing your data
• Helps you meet regulations
• Offers you safe harbour from breach notification
• Gives service providers a competitive edge
• Secures your backup
• Allows you to secure your remote offices
6. What are the different types of encryption?
Symmetric and asymmetric are the two main types of encryption. The first type uses the same key for encryption as well as decryption. However, the second type uses a combination of a private and a public key.
7. What is meant by end-to-end encryption?
The kind of process which is used by Whatsapp, iMessage, online banks and others is end-to-end encryption. This method is commonly used to prevent third parties from understanding or reading sensitive data.
8. How to ensure your data is encrypted?
Due to the alarming rate of cybercrime, it has become for you to make sure your data is encrypted. To do this, you can go through the software mentioned below and select a suitable one for your business.
This software offers free encryption for everyone. It is ideal for platforms such as Windows, macOS, and Linux. For more details about VeraCrypt, click here.
If you are looking for a software that is ideal for individuals and small businesses, AxCrypt can be a suitable choice. It works on platforms such as Windows and macOS. Learn more about this software here.
c. CryptoExpert 8
CryptoExpert 8 uses multiple encryption methods and works on Windows. With this, you can ensure that your data is always protected against data breaches. To know more about this software, click here to know more.
These are a few pointers that give you a brief overview about the meaning, benefits, importance and tips for encryption. Keep reading iTMunch for more such tech blogs.