This thesis studies two important aspects of the use of pairings in cryptography, efficient algorithms and security. Pairings are very useful tools in cryptography, originally used for the cryptanalysis of elliptic curve cryptography, they are now used in key exchange protocols, signature schemes and Identity-based cryptography. This thesis comprises of two parts: Security and Efficient Algorithms. In Part I: Security, the security of pairing-based protocols is considered, with a thorough examination of the Discrete Logarithm Problem (DLP) as it occurs in PBC. Results on the relationship between the two instances of the DLP will be presented along with a discussion about the appropriate selection of parameters to ensure particular security level. In Part II: Efficient Algorithms, some of the computational issues which arise when using pairings in cryptography are addressed. Pairings can be computationally expensive, so the Pairing-Based Cryptography (PBC) research community is constantly striving to find computational improvements for all aspects of protocols using pairings. The improvements given in this section contribute towards more efficient methods for the computation of pairings, and increase the efficiency of operations necessary in some pairing-based protocols