Final answer:
Secret-key encryption is referred to as symmetric encryption, which utilizes a single key for both encryption and decryption. It is known for its speed in encrypting large data volumes but requires careful key management.
Step-by-step explanation:
Secret-key encryption is known as symmetric encryption. This type of encryption uses a single key to both encrypt and decrypt data. It is essential for the key to be kept secret between the communicating parties to maintain the security of the encrypted information.
Symmetric encryption is the opposite of asymmetric encryption, which uses a pair of keys - one public and one private. While symmetric encryption is faster and suitable for large volumes of data, it requires secure key management practices.
Examples of symmetric encryption algorithms include AES (Advanced Encryption Standard), DES (Data Encryption Standard), and 3DES (Triple Data Encryption Standard).