CNCC Exploring the Concept of Tokenization SMPC PBT & OAP Protocols Discussion

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fcbbegul

Engineering

Colorado Northwestern Community College

Description

1)This week we explored the concept of Tokenization. Three important protocols discussed were Secure Multi-Party Computation (SMPC), Policy-Backed Token (PBT) and Open Asset Protocol (OAP). Compare and contrast these three protocols and explain which industries can benefit the most from each of these protocols.

2)In the final discussion posting please describe what components of cryptography impacted you the most. Because of the short week you will only create an initial posting. There are no follow up postings for the week.

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Explanation & Answer

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1
Cryptology

Student’s Name
Course Code
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June 2, 2020

2
Cryptology

Cryptography
Finite fields are the cornerstone of any cryptographic algorithm. A finite field is made up
of a set of numbers. This set of numbers can be added, subtracted and divided together and the
result is always a number that is in the given set of numbers in the finite field. As a result, finite
fields are vital in any cryptographic algorithm because it allows one to work with a limited set of
numbers that are extremely large. It makes it easier to deal with these large numbers. This
therefore makes it easier to perform fast execution of cryptographic operations. The finite fields
increase speed and accuracy in cryptographic algorithms. In Cryptographic algorithms, the basis
of most of the protocols used is the difficulty of discrete logarithmic problems found in finite
fields. The same also applies to elliptic curves. A good example of the use of finite fields in
cryptographic algorithms is the Diffie-Hellman protocol which was used in 2014 to create a
secure connection to Wikipedia through the use of an elliptic curve over a finite field.
Cryptology deals with discrete structures in the algebraic multiplication in both software
and hardware. Since infinite fields are discrete structures, cryptologic algorithm therefore relies
on the discrete nature of the infinite fields to carry out the algebraic multiplication on the
hardware and software (Wong, 2018). This is because of the efficiency in computation that is
provided by infinite fields. The properties of a finite fields allow the scrambling and
descrambling of dat...


Anonymous
Very useful material for studying!

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