In public key encryption, a user uses an algorithm to generate a cryptographic key pair. When someone wants to send a secure message, they encrypt the plaintext using the recipient's public key. The encrypted message, or ciphertext, can only be decrypted by the recipient's private key. This process ensures that even if the encrypted data is intercepted, it remains unreadable without the corresponding private key.
Public key encryption eliminates the need for secure key distribution. The public key can be shared openly. Only the private key, known solely to the recipient, can decrypt the messages. This reduces the risk of unauthorized access.
It supports digital signatures, ensuring the authenticity and integrity of messages. This feature verifies the sender's identity and prevents message tampering.
Public key encryption scales efficiently for large user bases. It is ideal for businesses, government agencies, and other organizations that require secure communication among many users.
It provides non-repudiation, meaning the sender cannot deny the authenticity of their sent messages. This is essential in legal and financial transactions where proof of origin is required.
Ensures that the message remains unchanged during transmission. Any alteration of the ciphertext can be detected, maintaining the integrity of the communication.
Public key encryption is user-friendly as it does not require the exchange of secret keys before communication. It is widely used in web applications and secure email systems for ease of implementation.
If a private key is compromised, all messages encrypted with the corresponding public key can be decrypted. This poses a significant security risk.
Attackers may intercept and impersonate communication parties to gain access to private keys. Implementing robust authentication and verification protocols is necessary to mitigate this risk.
Public key encryption algorithms are generally slower and more resource-intensive compared to symmetric encryption methods. This makes them less suitable for applications requiring high-speed or large-scale data transfers.
In the context of CoinAPI, public keys and private keys are integral components of the JWT (JSON Web Token) authentication process, which enhances the security of API interactions.
1. Importing the Public Key:
- Access the CoinAPI's customer portal.
- Navigate to the API Keys section.
- Import your public JWT key (RSA or ECDSA) associated with your API key.
2. Generating a JWT Token:
- Use your private key to generate a JWT token. This token includes claims that verify your identity and the permissions of your API key.
- Ensure the token is signed correctly to maintain its integrity.
3. Making Authenticated Requests:
- Include the generated JWT token in the Authorization the header of your API requests using the Bearer JWT_TOKEN format.
4. Server Verification:
- Upon receiving your request, CoinAPI servers use the imported public key to verify the JWT token's signature.
- If the token is valid and the signature matches, the server processes your request.