Asymmetric encryption uses a pair of keys: a public key and a private key. The public key is openly distributed and used for encrypting data, while the private key, which is kept confidential by the owner, is used for decryption. This system ensures secure communication because even if the public key is intercepted, only the intended recipient can decrypt the data with their private key. This encryption method is widely used in securing emails, digital signatures, and SSL/TLS protocols for web security. It provides confidentiality and authentication, as only the private key owner can read or sign the encrypted data. For instance, RSA is a commonly used asymmetric encryption algorithm. Why Other Options Are Incorrect :
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Arrangement made for the likely loss in the profit and loss account while finalizing accounts of banks is known as...............................
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