Asymmetric-key algorithms use a combination of private and public keys while symmetric algorithms use only private ones, commonly referred to as secret keys.

ASC X9 has released a new standard, X9.24-3, that allows the use of the AES DUKPT algorithm to enhance security in retail financial transactions.

The result of this requirement is a much larger key size than symmetric-key algorithms for an equivalent amount of security. As an example, 512-bit RSA is considered to be about the same level of ...

While Shor's algorithm could be used to target asymmetric key cryptography, Grover's could impact symmetric key cryptography.

Symmetric key systems often rely on physical sharing of keys -- some financial institutions use actual couriers with portable storage devices -- to bootstrap.

Symmetric encryption utilizes a single key which both communicating parties use for encryption and decryption. However, both devices need to have the key before the communication begins.

Symmetric algorithms essentially depend on jumbling up the plaintext in complex ways and doing so lots of times; the key is what specifies the exact jumbling up pattern that was used.