Using an example in the business or finance industry, describe how the following
cryptographic protocols work:
D. Secure real‐time transport protocol (SRTP).
Secure Real-time Transport Protocol (SRTP) is a cryptographic protocol used to provide secure communication for real-time streaming applications, particularly in the business or finance industry. It ensures confidentiality, integrity, and authentication of the data being transmitted over the network.
For example, let's consider a financial institution that offers online trading services to its clients. To ensure secure communication between the clients' devices and the institution's servers, SRTP can be used.
Step 1: Key Exchange
The client and the server establish a secure connection by exchanging cryptographic keys. This can be done using a secure key exchange protocol like Diffie-Hellman. The key exchange ensures that only the client and the server possess the necessary keys to encrypt and decrypt the data.
Step 2: Encryption
Once the keys are exchanged, SRTP encrypts the streaming data, such as market quotes or trade order information, before transmitting it over the network. Encryption algorithms like Advanced Encryption Standard (AES) are commonly used to secure the data. This process ensures that even if an unauthorized party intercepts the data during transit, they cannot understand its content without the decryption key.
Step 3: Integrity Check
SRTP also includes mechanisms to ensure data integrity. It adds a message authentication code (MAC) to each packet transmitted, which protects against any tampering or unauthorized modifications. The MAC is computed using a cryptographic hash function, such as SHA-256, and is verified at the receiving end to ensure the data's integrity.
Step 4: Authentication
To prevent unauthorized access and ensure trust, SRTP provides authentication. This can be achieved through digital certificates issued by trusted certificate authorities. The digital certificates authenticate the identities of the client and the server, ensuring that they are legitimate and authorized parties to exchange sensitive financial information.
Step 5: Real-time Transport
Finally, SRTP ensures the real-time delivery of the encrypted data. It works alongside the underlying transport protocols, such as User Datagram Protocol (UDP) or Transmission Control Protocol (TCP), to ensure the timely and efficient delivery of the encrypted packets.
By implementing SRTP in their online trading services, the financial institution can provide a secure communication channel to their clients. This not only protects sensitive financial information from unauthorized access but also instills confidence and trust in their clients, enhancing the overall security and reliability of their business operations.