Encryption is a fundamental element of today's world of technology. It is vital for enhancing the privacy and security of data. In the realm of security and encryption, both public keys and private keys are essential elements.

Public keys and private key are part of a read more system known as public key cryptography or asymmetric cryptography. This model allows two parties to communicate securely over an unsecured network. In this system, each party holds a pair of keys - a public key and a private key.

Public keys are distributed freely. They can be used by anyone to encrypt a message. Unlike public keys, private keys are kept private. Only the receiver of a private key can use it. The message encrypted with the public key can only be unraveledby the corresponding private key.

Cryptography is the practice and study of secure communication in the presence of adversaries. It incorporates creating secure communication protocols. Several technologies such as Hash Functions, Symmetric-key Cryptography, and more concretely, Asymmetric Cryptography or Public Key Cryptography have emerged from this field.

The security provided by this methodology is based on mathematical encryption algorithms and the intricacy of factoring large prime numbers. It is computationally impossible to deduce the private key based on the public key.

In the world of asymmetric cryptography, the concept of public and private keys is applied extensively in different protocols, providing functions such as integrity, non-repudiation, and authentication.

In conclusion, public and private keys in encryption are imperative to modern cryptography and, by extension, to internet security. They help to ensure the secure transfer of information in a world where digital communication has become prevalent, ensuring that our private digital communications remain just that – private. Therefore, a profound understanding of these keys and their role in encryption and security can be intensely beneficial.