Public Key Infrastructure (PKI) is a system of digital certificates, encryption keys and other security measures used to protect data and communications over the Internet. It enables users to securely exchange information with each other, regardless of their geographical location or network infrastructure. PKI provides a secure way for organizations to authenticate users, encrypt data in transit and digitally sign documents.
The main components of PKI include digital certificates issued by Certificate Authorities (CAs), which are trusted third-party entities that verify an individual’s or organization’s identity; public/private key pairs used for encryption/decryption; registration authorities responsible for verifying user identities before issuing digital certificates; revocation lists containing revoked certificate numbers so they can be easily identified as invalid; trust anchors that define the level of trust given to various CAs within a particular environment; cryptographic algorithms such as RSA or Elliptic Curve Cryptography (ECC); hashing algorithms like SHA-2 used in message authentication codes (MACs); time stamping services that provide proof positive when certain events occurred related to signed documents etc..
PKIs offer many advantages including improved security through strong authentication techniques such as two factor authentication using smart cards combined with passwords/PINs plus stronger encryption protocols than those available without it making them ideal solutions in areas where high levels of confidentiality are required such as banking systems.
Additionally, because all parties involved must use compatible technologies based on industry standards like X509v3 from The International Telecommunication Union’s Telecommunications Standardization Sector, interoperability between different vendors becomes much easier thus increasing efficiency while reducing costs associated with managing multiple incompatible systems at once.