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Cipher Meaning

A cipher is a cryptographic algorithm used to convert readable information (plaintext) into an unreadable form (ciphertext) and, when authorized, back again. Ciphers are foundational to modern cybersecurity because they enable confidential communication even when messages travel across insecure channels (like the internet), where they could otherwise be intercepted. At a high level, a cipher works by combining two inputs: the plaintext message and a key.

The key is a piece of information (a number or string) that controls how the cipher transforms the message. Without the correct key, the ciphertext should be computationally infeasible to reverse into meaningful plaintext. Historically, ciphers existed long before computers-classical methods like substitution or transposition were done with pen and paper.

Modern ciphers, however, are designed for digital systems and must withstand sophisticated attacks from well-funded adversaries. Today, ciphers are used everywhere: secure messaging, VPNs, bank transfers, cloud storage encryption, hardware wallets, and blockchain protocols.

Modern ciphers generally fall into two broad categories:

Symmetric-key ciphers, where the same key is used for encryption and decryption (fast and efficient; used for bulk data encryption).
Asymmetric-key ciphers, where encryption and decryption use different keys (a public key and a private key), enabling secure communication without needing to share a secret in advance.

In the crypto ecosystem, ciphers matter because wallets, exchanges, custody providers, and node infrastructure all rely on cryptography to protect sensitive data and private keys.

While blockchains are transparent by default, encryption remains critical for securing endpoints, credentials, and off-chain components (APIs, databases, internal comms). In short: a cipher is the “machine” that turns readable data into protected data-and back-when the correct key is provided.

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Important Disclaimer:

Finery Markets BVI Limited (“Finery Markets”) provides software, technology infrastructure, and related Information and Communication Technology (ICT) services on a Software-as-a-Service (“SaaS”) basis. Finery Markets acts solely as a software vendor and does not operate a trading platform, does not intermediate, match, execute, clear, or settle transactions, and does not engage in any activities that would require regulatory authorisation under applicable laws.

Finery Markets’ software is non-custodial and is provided exclusively to licensed institutional entities that act as independent operators of their own environments. All counterparties are solely responsible for establishing and maintaining their own bilateral trading and settlement relationships. Finery Markets is not a party to any such arrangements and assumes no responsibility for the conduct, verification, or compliance obligations of any users of the software.

Nothing on this website shall be construed as a financial promotion, investment advice, or an offer to engage in regulated activities. Access to and use of the software is strictly limited to clients who have entered into a software licensing agreement with Finery Markets. Persons located in jurisdictions where such access is restricted should not rely on this website or any of its contents.

Additional notice to UK visitors: This website and associated communications are not intended to constitute a financial promotion under The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) and related guidance. Access to services provided by Finery Markets is limited to regulated entities, professional clients and eligible counterparties as set out by the Financial Conduct Authority. UK users are not permitted to use this website for the services of Finery Markets if they don't fall within these categories.