An electronic signature is a cryptographic mechanism that allows proving the authenticity and integrity of data. In blockchain, it plays a key role in transaction verification.
How does it work?
When you initiate a transaction in the blockchain, it is signed with your private key. The recipient (or network) can verify this signature using the public key. If the signature is authentic — then the transaction indeed comes from you, and its content has not been altered.
An electronic signature in blockchain is based on asymmetric encryption — the private key is kept secret, while the public key is freely accessible. This system makes forgery of a transaction nearly impossible.
Why is this important?
Security — no one can sign a transaction on your behalf without your private key.
Transparency — it can be proven that a transaction is authentic without revealing private data.
Integrity — even the slightest change in data will result in an invalid signature.
Electronic signatures are the digital equivalent of a wet signature in the real world, only much more reliable and universal.
#Educatewithme #CryptoEducation💡🚀