No words can better describe the present scenario of technology than the following. “The world is not run by the weapons anymore or energy or money. It is run by ones and Zeros- little bits of data. It is all electrons. There is a war out a world war. It is not about who has the most bullets. It is about who controls the information. What we see and hear, how we work, what we think is all about information”. [1] In the developed world, the present generation cannot imagine a life without computers. The information and communication revolution has overtaken the world, demolishing economic barriers and political boundaries. The network of computers aptly called the internet, which has modest beginning, has grown by leaps and bounds. The word ‘cyber’ and its relative ‘dot.com’ are probably the most fashionable words in the entire vista of English vocabulary today. Cyberspace has developed with almost incredible speed, certainly when compared with other forms of communication technologies. Telephone took 74 years before it could reach 50 million subscribers. Similarly Radio took 38 years to reach the same figure. With PC only 16 years elapsed. From its inception in1993, the www required only four years to acquire 50 million users. Thus, securing issues like Authentication, Confidentiality, Integrity, and Non-repudiation etc have been answered.