In this paper we propos a new hardware architecture of modular exponentiation using a division chain method which has been proposed in (2). Modular exponentiation using the division chain is performed by receding an exponent E as a mixed form of multiplication and addition with divisors d=2 or $d=2^I +1$ and respective remainders r. This calculates the modular exponentiation in about $1.4log_2$E multiplications on average which is much less iterations than $2log_2$E of conventional Binary Method. We designed a linear systolic array multiplier with pipelining and used a horizontal projection on its data dependence graph. So, for k-bit key, two k-bit data frames can be inputted simultaneously and two modular multipliers, each consisting of k/2+3 PE(Processing Element)s, can operate in parallel to accomplish 100% throughput. We propose a new encoding scheme to represent divisors and remainders of the division chain to keep regularity of the data path. When it is synthesized to ASIC using Samsung 0.5 um CMOS standard cell library, the critical path delay is 4.24ns, and resulting performance is estimated to be abort 140 Kbps for a 1024-bit data frame at 200Mhz clock In decryption process, the speed can be enhanced to 560kbps by using CRT(Chinese Remainder Theorem). Futhermore, to satisfy real time requirements we can choose small public exponent E, such as 3,17 or $2^{16} +1$, in encryption and verification process. in which case the performance can reach 7.3Mbps.