Glossary - ChicksX

Encryption is the process of converting information into a secure format, preventing unauthorized access to the original data.

Encryption is the process of transforming readable data into an unreadable format using algorithms and keys. This ensures that only authorized parties can access the original information. In crypto exchanges like ChicksX, encryption secures user data, transactions, and sensitive information. It protects against unauthorized access, data breaches, and cyber threats. Symmetric encryption uses the same key for encoding and decoding, while asymmetric encryption uses a pair of keys. Both methods ensure confidentiality and integrity. Understanding encryption is vital for secure interactions on digital platforms, as it safeguards privacy and maintains the trustworthiness of financial transactions.