An advantage of using WPA3-Personal instead of WPA2-Personal as a security solution for 802.11 networks is that WPA3-Personal, also called WPA3-SAE, uses a stronger authentication exchange to better secure the network. WPA3-Personal uses Simultaneous Authentication of Equals (SAE) as the key exchange protocol, which provides stronger protection against offline dictionary attacks and password guessing than WPA2-Personal. SAE uses a Diffie-Hellman key exchange with elliptic curve cryptography (ECC) to establish a pairwise master key (PMK) between the AP and the client without revealing it to any eavesdropper. SAE also provides forward secrecy, which means that if one PMK is compromised, it does not affect the security of other PMKs. WPA2-Personal uses Pre-Shared Key (PSK) as the key exchange protocol, which is vulnerable to offline brute-force attacks if the passphrase is weak or leaked. Both WPA3-Personal and WPA2-Personal use AES for encryption, so there is no difference in that aspect. WPA3-Personal does not use a different encryption algorithm than WPA2-Personal, but rather a different key exchange protocol. References: [CWNP Certified Wireless Network Administrator Official Study Guide: Exam CWNA-109], page 307; [CWNA: Certified Wireless Network Administrator Official Study Guide: Exam CWNA-109], page 297.
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