Role of Digital Signature in Blockchain
What is the role of digital signature in blockchain? First to know about this, what is digital signature? Digital signature is a term that is different form handwritten signature. It is more secure from normal signature. It uses an encryption method for signature. These encryption methods are based on cryptography. Hence, cryptography encrypt our message and message is encrypted with digital signature.
What is cryptography? Cryptography is term that is used to hide of our original text to cypher text. Here we used text because it is used for message passing. Message passing term is very useful in blockchain. This process always done between sender and receiver. Cryptography provide the confidentiality and Integrity. Confidentiality means hiding of data. That means no one can access your information. Integrity provide the security that our message could not be changed.
Cryptography can be done in a two way. First with public key and another with private key. Key is a number that is randomly generated. Public key is always from receiver side and private key is from sender side. Public key is sharable with anyone. So in this whole process sender encrypt his signature with private key. At the receiver side he can share the public key. Which make this information to be accessible.
Process of Digital Signature in Blockchain
Till now we have understood what digital signature is. Now we will learn about the working of digital signature. Blockchain is used to provide the platform for cryptocurrencies. These cryptocurrencies used the digital signature to make its transaction secure. In this method verification is main factor. We will learn how it encrypt and verify the signature.
The whole process consist from two end points. Frist one is sender and another one is receiver. Sender will generate two keys public and private. It always use the private key to encrypt the message with signing algorithm. Sender will send the public key and their message to the receiver side with signature.
Receiver side check this message with verification algorithm. This process verify that it comes from sender side. After that receiver can use public key to decrypt that message. Using this digital signature method we can send our information securely to anyone. Digital signature also use the peer-to-peer network system. Which provide it a decentralized environment.