What are the differences between symmetric and asymmetric encryption algorithms?

Symmetric encryption uses a single key to encrypt and decrypt data, meaning the same key is used for both processes. This key must be kept secure and shared among the parties that need to encrypt and decrypt the data. Asymmetric encryption, on the other hand, uses a pair of keys – a public key for encryption and a private key for decryption. The public key can be freely distributed, while the private key is kept secret. Messages encrypted with the public key can only be decrypted by the corresponding private key.

In practice, symmetric encryption is typically faster and more efficient when encrypting large amounts of data. It is often used for securing data transmission and storage. Asymmetric encryption is commonly used for secure key exchange, digital signatures, and establishing secure communication channels, especially in scenarios where parties do not have a shared key beforehand.

Overall, symmetric encryption is used for bulk data encryption, while asymmetric encryption is used for secure key exchange and digital signatures to establish secure communication channels.