Why do we sign a contract or a bill? In our everyday life, signatures are often used as a handwritten mark to make proof of identity and intent. In public blockchain networks, participants cannot necessarily trust each other. Everyone can potentially claim to be the owner of a blockchain address and initiate a token transfer. Further, even if the message is from the owner of a blockchain address, corrupt nodes can manipulate the content, e.g. changing the beneficiary to their benefit. That’s why we need digital signatures, which allow confirming the authenticity and integrity of a message.
In this slideshow, you will learn about what digital signatures are and how they are created, using asymmetric cryptography and hash functions. Enjoy!