More Examples

“Did you check the digital signature?”

“Every bitcoin transaction is signed by a unique digital signature.”

Digital signatures make proof-of-ownership possible.”

Definition(s) from the Web

  1. A cryptographic signature is a mathematical mechanism that allows someone to prove ownership. In the case of Bitcoin, a Bitcoin wallet and its private key(s) are linked by some mathematical magic. When your Bitcoin software signs a transaction with the appropriate private key, the whole network can see that the signature matches the bitcoins being spent. However, there is no way for the world to guess your private key to steal your hard-earned bitcoins. Source
  2. A number that proves that a signing operation took place. A signature is mathematically generated from a hash of something to be signed, plus a private key. The signature itself is two numbers known as r and s. With the public key, a mathematical algorithm can be used on the signature to determine that it was originally produced from the hash and the private key, without needing to know the private key. Resulting signatures are either 73, 72, or 71 bytes long (with approximate probabilities of 25%, 50%, and 25%, respectively–although sizes even smaller than that are possible with exponentially decreasing probability). Source
  3. Digital signature definition is a requisite of the digital entity that is reached as a result of cryptographic manipulation with information using a private signing key and verifying the absence of distortion of information in an electronic document since the formation of the signature (integrity), the belonging of the signature to the owner of the signature key certificate (authorship), and in the case of successful validation, to confirm the fact of signing of an electronic document (non-repudiation). Sometimes, a process of implementing such property is also referred to as digital signature. Digital signature is unique for every document it was used for to sign. A document that was signed with a digital signature is specifically encrypted in a way that leaves an opportunity for users, other than the document’s author, to read it. However, this encryption makes the document easily validatable in terms of authorship and integrity by making it unchangeable. The method comes in handy when some document or file has to be transferred via insecure network to ensure that the receiver of the document won’t get an altered version. Digital signature can be used not only to protect the document’s contains from changing by someone apart from its author but also for a number of other purposes. For example, digital signature can be used to develop digital signature certificate, visibly showing its reader that the document was made by particular entity. Digital signature can also be used to approve a document. For example, some corporate decision needs to be approved by several top-managers. When the decision is generated in a digital form, it is certified with a digital signature by its author showing other readers that the document was made by the right person and was not changed while transferring. Then, it could be approved by every top manager, each leaving a visible signature in it. When all the managers are done, the document is certified, validated and approved. Source
  4. A digital signature is a mathematical scheme for verifying the authenticity of digital messages or documents. A valid digital signature, where the prerequisites are satisfied, gives a recipient very strong reason to believe that the message was created by a known sender (authentication), and that the message was not altered in transit (integrity). Digital signatures are a standard element of most cryptographic protocol suites, and are commonly used for software distribution, financial transactions, contract management software, and in other cases where it is important to detect forgery or tampering. Digital signatures are often used to implement electronic signatures, which includes any electronic data that carries the intent of a signature, but not all electronic signatures use digital signatures. In some countries, including Canada, South Africa, the United States, Algeria, Turkey, India, Brazil, Indonesia, Mexico, Saudi Arabia, Uruguay, Switzerland, Chile and the countries of the European Union, electronic signatures have legal significance. Source

Comments are closed.

  Recommended Bitcoin Videos

"The Rise and Rise of Bitcoin" (2013)
"Keiser Report: Bitcoin Millionaires vs Paper Billionaires" (2013)
"Banking on Bitcoin" (2017)
"Bitcoin Explained and Made Simple" (2014)
"How Does a Blockchain Work - Simply Explained" (2017)
"Smart Contracts - Simply Explained" (2017)

  Recommended Bitcoin Reading

  Recommended Bitcoin Websites