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The SSL (secure socket layer) protocol is the web standard for encrypting communications between users and web sites. Data sent via an SSL connection is protected by encryption, a mechanism that prevents eavesdropping and tampering with any transmitted data. SSL provides businesses and consumers with the confidence that private data sent to a web site, such as credit card numbers, are kept confidential. Web server certificates are required to initialize an SSL session
The reason for needing a separate IP address per domain you want to secure is that the SSL protocol is bound to static IP addresses, while a certificate is bound only to a domain name. Therefore, any certificate-enabled web site must have its own unique IP address. The IP can be real (routable) or internal (RFC 1918 non-routable address), but it must be unique on a server.
The end-user's browser requests a secure channel (via "https:") from the server, and then - if the server has a cert - the browser and the server negotiate their highest common encryption strength (e.g., 256-bits) and exchange the corresponding encryption keys (this exchange is normally done using 2048-bit encryption strength). The 256-bit encryption key is then used for this particular instance of SSL, for all from-to exchanges between the browser and the server. The next https session will have a new session key.
The SSL certificate guarantees the security of the connection between the browser and the server. Once data is in the server, it is up to the server admin to make sure the data remains protected.
QuickSSL is compatible with Microsoft Internet Explorer 5.01 and higher, Netscape/AOL web browsers version 4.51 and higher, and Opera 7, comprising an estimated 98% or more of all web browsers in use today (this information can also be found at http://www.geotrust.com/quickssl/browsers/index.htm). All other commonly used browsers may connect securely with web servers using QuickSSL certificates. However, some older browsers may display a dialogue box indicating that the certificate is not trusted. This means that the certificate is not located in the browser certificate store, and, in most cases, the user will be prompted to install it with a few clicks of their mouse.