One of the advantages of the blockchain network is the security of data storage and transmission. Blockchain ensures the accuracy and security of recording information. That is why the blockchain is so in demand and finds its wide application in various fields of activity. One of the tools that allows you to provide high-level security is a digital signature.

Blockchain is a chain of blocks with information linked to each other. In addition, it is encrypted in a special way and stored in an exact copy on all network nodes. Thus, it allows you to record and transfer digital data without the possibility of changing or deleting them.

Asymmetric encryption mechanism

The blockchain mechanism is based on an encryption system (cryptography). As a result, this allows you to create a network where data changes become impossible.

A digital signature is a form of asymmetric encryption. It uses a private key (where the author of the data is the sole owner of the key) and a public key (it is available to all users). The main thing is that the information inside the transaction cannot be changed. Therefore, within a block, all transactions are digitally signed.

The ECDSA algorithm uses a cryptographic method. It creates a digital signature using public and private keys (Elliptic Curve Digital Signature Algorithm). For example, the bitcoin blockchain network uses just such an algorithm.

Consequently, a digital signature allows the author to confirm the authenticity of the data, and also identifies the author himself. In other words, on the blockchain network, the user signs the information they send using their private key. Other users, using the public key, can decrypt the transaction. And, thus, make sure that the data has not been changed and that this sender is the author of the transaction.

The transaction will not be validated with a valid signature without the private key. As a result, other parties of the blockchain network will not confirm this transaction. Therefore, through digital signatures, it is impossible to use the user’s funds without his permission. Thus, it is difficult to crack the asymmetric encryption algorithm. Therefore, it is impossible to forge a signature or, in other words, to guess the private key.

In addition, a digital signature helps to detect and prevent any outside interference. For example, if hackers somehow manage to correct the data, the signature will change. As a result, it can be determined whether the information has been forged.

Conclusion

 

So, a set of complex algorithms provide protection for the security of the blockchain. One of them – a digital signature – provides reliable information about the creator and confirms the authenticity of the data