Which of the following statements is true regarding asymmetric encryption?

Asymmetric encryption is characterized by the use of a pair of keys: a public key and a private key. In this system, the public key is used for encryption, allowing anyone to encrypt a message that can only be decrypted by the corresponding private key, which is kept secure by the owner. This method enables secure communication between parties who may not have previously met, allowing one to share their public key while keeping their private key confidential. The design fundamentals of asymmetric encryption fundamentally differentiate it from symmetric encryption, where a single key is used for both encryption and decryption.

The other statements do not accurately describe the nature of asymmetric encryption. The first statement pertains to symmetric encryption, which uses just one key for both processes. The third option refers to typical use cases, where symmetric encryption is often preferred for transactional data due to its speed and efficiency. Finally, while it is true that asymmetric encryption tends to be slower than symmetric encryption, this point does not address the core mechanics and characteristics that define asymmetric encryption itself. Therefore, the statement regarding the use of a public and private key accurately captures the essence of asymmetric encryption.