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Symmetrickey algorithm
Symmetrickey algorithms are ways of doing cryptography where the keys for decryption and encryption are exactly the same shared secret. You can generate the secret randomly, from a password, or through a secret keyexchange procedure like DiffieHellman.
Symmetrickey algorithms are very important because they are faster on computers than publickey algorithms. In publickey cryptography, also called asymmetrickey cryptography, it is hard to figure out the key for decryption from the key for encryption, so you can tell the key for encryption to the public with no problem, and everyone can send you secret messages. This is very useful, but publickey cryptography algorithms are very slow on computers, so they are actually only used to send a shared secret, and then symmetrickey algorithms are used for everything else because they are faster.
There are two kinds of symmetrickey algorithms, called stream ciphers and block ciphers. Stream ciphers encrypt a message as a stream of bits one at a time. Block ciphers take blocks of bits, encrypt them as a single unit, and sometimes use the answer later too. Blocks of 64 bits have been commonly used; though modern ciphers like the Advanced Encryption Standard use 128bit blocks.
Examples of popular symmetric cyphers include Twofish, Serpent, AES (aka Rijndael), Blowfish, CAST5, RC4, TDES, and IDEA.
In history, some symmetric ciphers were broken by cryptanalysis, so it was less safe to use them for secrets. Some attacks are called knownplaintext attacks, chosen plaintext attacks, differential cryptanalysis and linear cryptanalysis.
Other terms for symmetrickey encryption are secretkey, singlekey, sharedkey, onekey and eventually privatekey encryption. Make sure that the use of the latter term does not conflict with the term private key in publickey cryptography.
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Symmetric vs. asymmetric algorithms
Unlike symmetric algorithms, asymmetric key algorithms use a different key for encryption than for decryption. Meaning, a user knowing the encryption key of an asymmetric algorithm can encrypt messages, but cannot calculate the decryption key and cannot decrypt messages encrypted with that key. A short comparison of these two types of algorithms is given below:
Speed
Symmetrickey algorithms are generally much less computationally intensive than asymmetric key algorithms. In practice, asymmetric key algorithms are typically hundreds to thousands times slower than symmetric key algorithms.
Key management
One disadvantage of symmetrickey algorithms is the requirement of a shared secret key, with both parties holding the same copy at each end. In order to ensure secure communications between everyone in a group of n people a total of n(n  1)/2 keys are needed, which is the total number of possible communication channels.^{[1]} To limit the impact of a potential discovery by a cryptographic attacker, they should be changed regularly and kept secure during distribution and in service. The process of selecting, distributing and storing keys is known as key management, and is difficult to achieve reliably and securely.
Hybrid cryptosystem
In modern cryptosystems designs, both asymmetric (public key) and symmetric algorithms are used to take advantage of the best of both. Asymmetric algorithms are used to distribute symmetrickeys at the start of a session. Once a symmetric key is known to all parties of the session, faster symmetrickey algorithms using that key can be used to encrypt the remainder of the session. This simplifies the key distribution problem, because asymmetric keys only have to be distributed authentically, while symmetric keys need to be distributed in both an authentic and confidential manner.
Systems that use such a hybrid approach include SSL, PGP and GPG, etc.
Related pages
References
 ↑ Beutelspacher, Albrecht (1994). "The Future Has Already Started or Public Key Cryptography". Cryptology. translation from German by J. Chris Fisher. pp. 102. .

