The Advanced Encryption Standard (AES) is a widely accepted encryption algorithm established by NIST to secure classified information and operates on 128-bit blocks. AES uses a series of repeated functions - including substitution, shifting, mixing, and key addition - with the number of rounds varying based on key size (10, 12, or 14 rounds). Despite its robustness, there are advanced attacks like the related key attack which attempt to weaken AES, though these remain impractical with current technology for key sizes of 128 bits and above.