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Encryption Meaning

Encryption is the process of transforming readable information, known as plaintext, into an encoded format called ciphertext to protect it from unauthorized access. It is a foundational element of modern digital security and plays a critical role in blockchain networks, cryptocurrencies, and secure communications. Encryption ensures that sensitive data remains confidential, even when transmitted over public or untrusted networks.

In blockchain systems, encryption underpins wallet security, transaction integrity, and user privacy. Private keys, which grant control over digital assets, rely on cryptographic encryption to remain secure against brute-force attacks. When users initiate transactions, cryptographic algorithms ensure that only the intended parties can authorize and validate those actions.

Encryption also helps protect data stored off-chain, such as account credentials or application metadata, from unauthorized access. There are several primary forms of encryption used in cryptographic systems. Symmetric encryption uses a single shared key to both encrypt and decrypt data, making it efficient for large volumes of information but dependent on secure key exchange.

Asymmetric encryption, also known as public-key cryptography, uses a pair of mathematically linked keys: a public key for encryption and a private key for decryption. This approach enables secure communication without prior key sharing and is widely used in blockchain wallets and digital signatures.

Encryption also supports data integrity by ensuring that information cannot be altered without detection. If encrypted data is modified, decryption fails or produces invalid results, signaling potential tampering.

In decentralized systems where trust is distributed rather than centralized, encryption provides a mathematical foundation for security without relying on intermediaries. As blockchain adoption grows across financial and enterprise use cases, encryption remains essential for maintaining confidentiality, trust, and resilience in digital systems.

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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.