How important is cryptography in network security?

“Please enter the one-time password (OTP) that was sent to your registered mobile number.” The next time you see a statement like this, remember there is a specific reason behind it.

IT administrators use various security methods, including hardware and software solutions, to protect network data from unauthorized access and other threats. These mechanisms are a preventive measure that ensures the security of the network. Examples of security methods include OTPs, tokens, biometrics, voice and facial recognition, personal identification numbers, and debit and credit cards that verify user identities.

Confidential communication

In today’s world where data leaks are commonplace, it is crucial that individuals and organizations exercise extreme caution to protect sensitive information from cybercriminals.

Encryption and decryption algorithms are the key components of cryptography. These methods help prevent the disclosure of confidential information and unauthorized access. The secret of decrypting the encoded data is held by both sender and receiver, making it the most effective method of concealing communication.

The most widely used messaging app, WhatsApp, pioneered the implementation of end-to-end encryption by incorporating it into their privacy policy in 2016. Encryption ensures that only the sender and recipient can read or listen to what’s being sent, so even WhatsApp staff don’t have access to the data.

Non-repudiation

The digital signature, combined with other measures, provides a non-repudiation service to guard against denial of actions.

It provides proof and the existence of a message, which makes it very difficult for parties associated with the communication to deny their involvement. It further ensures that only persons or processes authorized to view and use the content of a message or transaction have access to the content.

Authentication

The global damage costs of ransomware are expected to exceed $265 billion by 2031, according to estimates from Cybersecurity Ventures. Fortunately, we have authentication, which serves as the first line of defense against unauthorized data access.

The main motive of cyber criminals is to gain access to systems, steal your data and money or spread malware. To do this, they impersonate individuals, companies or entities and try to gain trust. They are more than capable of handling modern technology, including email services, communications, or fundamental Internet protocols. Techniques, such as MAC and digital signatures in cryptography, focus on protecting information from spoofing and counterfeiting, and stopping hackers in their tracks.

A Singapore-based cybersecurity startup, Silence Laboratories, recently raised $1.7 million in seed funding with the aim of building better authentication systems. The startup solves problems with institutional asset managers, exchanges and the security of crypto wallets. It uses layers of evidence based on signal processing and cryptography to secure digital wallets, exchanges and login services for Web 3.0 and Web 2.0 products.

Data integrity

Data integrity is a comprehensive package that ensures the accuracy, completeness, consistency, and validity of an organization’s data. This allows companies to ensure data integrity and ensures that the information in its database is accurate.

The General Data Protection Regulation (GDPR) that came into force in May 2018 has forever changed the outlook on what individuals and entities think about data breach or privacy. More and more people have realized the impact of data leakage.

Mathematical algorithm and cryptographic hash functions play a vital role in guaranteeing data integrity to users. They are extremely useful and are used by most information security applications.

Call to action

You can’t expect everything to be flawless, and that’s no different for crypto. There are many places where this has failed. Here is an example :

On September 16, 2022, one of the major transport companies, Uber Technologies, confirmed he had been the victim of a cyberattack. A multi-factor authentication (MFA) fatigue attack is the alleged social engineering tactic the hacker employed to break into an Uber employee’s account and wreak havoc, ultimately putting the data of 93 million people at risk. active Uber users.

If this story puzzles you, or makes you rethink your decision to embrace crypto, I have just one question for you: wouldn’t you build a door to protect your home, assuming a thief going to break in anyway?

ManageEngine provides a comprehensive suite of network security solutions that manages your organization’s entire network security infrastructure. Learn more.