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different types of encryption and how they relate
encryption, steganography, cryptography, cryptanalysis, cryptology
encryption and steganography are under cryptography
cryptography and cryptanalysis under cryptology
what is symmetric key encryption?
uses a single key to both encode and decode data; pretty basic but can be powerful if the key is long
what is asymmetric encryption? what is it used for?
uses two keys (public and private key)
public key available to anyone wishing to communicate with owner; private key only available to recipient
used for creating secure websites, or more secure messaging
what is hashing?
one-way encryption with no way of decrypting it; turns material into a value; designed so a completely trivial change gives a random output
why was digital currency created, what determines the value of it? how can you trust transactions without a centralized entity?
created due to lack of trust in centralized banks after 2008 financial crisis → BTC
value of it determined by trust
can trust transactions because cryptography prevents double-spending and the public ledger is the transaction history of all the wallets, ensuring accuracy
what is mining?
process of adding blocks to the blockchain, done by computers guessing the correct hash range, if correct → block accepted and the miner gets a bit of bitcoin
value they get decreases/halves every 4 years, ensuring demand increases over time and can hedge inflation
pros vs cons of digital currency
accessible as it transfers in minutes and can spend in other countries without transaction fee, can be sold at any time); cannot be traced to user; decentralized currency; high volatility/return potential
volatility can be bad; lack of regulation = lack of legal protections; irreversible transactions; limited use as it’s not widely accepted; vulnerable to scams and thefts
how can you create an online wallet?
through online services, online software, and offline hardware (e.g., USB)
what are the dangers from the internet of things devices? examples?
insecure data and storage transfer (e.g., potential for breaches); lack of visibility and device management (e.g., prevents organizations from responding to threats); IoT botnets; weak passcodes; insecure interfaces (APIs) can introduce new entrances for attackers
robot pacemaker, insulin pumps, toaster example