PayPal Essay by Ace writers

PayPal
This paper analyzes the Internet security system, PayPal, a solution for the transfer of on-line funds.
# 47061 | 1,290 words | 4 sources | MLA | 2004 | US


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Description:

This paper discusses that one of the worst fears of people using the Internet is the danger of disclosing, unknowingly, their personal and financial information to a nosey hacker. The author points out that PayPal uses the SSL (Secure Sockets Layer) protocol, which implies that all the transactions between the client and the host are safe because the exchanged data is rendered undecipherable and meaningless to anyone who happens to gain unauthorized access. The paper relates a glaring security risk, which is that the SSL protocol stores the digital certificate permanently in the client system, though in the encrypted form, which presents a possibility for the miscreant to dabble with it.

Table of Contents
Introduction
PayPal Features
Dangers of Security Lapses
Ensuring Privacy (Isolated Storage)
The SSL Security (Digital integrity and authenticity)
Disadvantages of SSL
PayPal's Encryption and Firewall Protection
Legal Liability
Conclusion

From the Paper:

"SSL protocol is actually made up of two separate protocols namely the SSL Record Protocol and the SSL Handshake protocol. SSL record protocol looks after the format in which data is transmitted over the web and also manages the data integrity. SSL handshake protocol on the other hand determines the session key or the secret key. The SSL handshake protocol initiates the transaction process by sending the SSL version number and other data such as the cipher settings to the server. The server, in return, sends its SSL version, cipher settings and a digital certificate to the client. Once the certificate from the Paypal server is received, the client verifies its authenticity with a certificate authority such as VeriSign. This verification ensures that the public key sent by the server through the certificate is genuine. Once the server is authenticated, the client machine creates a "Premaster Key," encrypts it using the public key supplied by the server and sends back the encrypted "Premaster Key" to the server."

Cite this Essay:

APA Format

PayPal (2004, January 30) Retrieved July 10, 2020, from https://www.academon.com/essay/paypal-47061/

MLA Format

"PayPal" 30 January 2004. Web. 10 July. 2020. <https://www.academon.com/essay/paypal-47061/>

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