Discuss about Translation table encryption technique to ensure secured transactions onto the net?

Translation table:

In this process each chunk of data is used like an offset into a ‘translation table’ and the resulting ‘translated’ value through into the table is then written within the output stream. The decryption and encryption programs would use a table which translates to and through the encrypted data. This method is extremely simple and quick, the down side is which once the translation table is identified, and the code is broken.