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What is the difference between symmetrical and asymmetrical encryption?

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What is the difference between symmetrical and asymmetrical encryption?

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Symmetrical encryption uses private keys to secure each individual communications channel. Each private key is used for both encryption and decryption. Asymmetrical encryption uses public and private keys (key pairs). Messages are encrypted with the receiver`s public key. The receiver must then use his or her corresponding private key to decrypt the message. The major benefit of this approach is that the public key of each participant within the network must be made available only once for all to use.

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