.NET cryptography for licence keys?

Question

I want to create a license key, which cryptography algorithm would you recommend?

Basically the inputs would be:

company name
major ver

Answer 1

You need to do 4 things:
No 1: Checksum your application (MD5, with custom md5 context)
- MD5 context needs to be encryptedly initialized
- Compare agains private/public key encrypted checksum
No 2: Checksum your running application's text segment
No 3: Use 4096-Bit RSA Private-Public key encrypting for the license
No 4: Encrypt any crucial strings, like "Wrong key" or "Key ok"