What Is the Difference between Symmetric and Asymmetric Encryption in Securing Trade Data?

Symmetric encryption uses a single, shared secret key for both encryption and decryption. It is fast and efficient, often used for bulk data encryption of trade records.

Asymmetric (public-key) encryption uses a pair of keys: a public key for encryption and a private key for decryption. It is slower but enables secure key exchange and digital signatures, primarily used for authentication and non-repudiation in trade communications.