Produced by: Pranav Dixit Designed by: Manoj Kumar
A digital signature is a mathematical technique used to validate the authenticity and integrity of a digital document or message.
It uses cryptography to create a unique, unforgeable electronic fingerprint that’s linked to the signer and the document.
It verifies that the signature is genuinely from the person or entity claiming to have signed it.
It guarantees that the document hasn’t been tampered with after it was signed.
Digital signatures are legally binding in many countries, offering the same legal status as handwritten signatures.
They are commonly used for signing contracts, legal documents, financial transactions, and other important digital communications.
Digital signatures provide a higher level of security compared to traditional handwritten signatures, making them more difficult to forge.
They streamline workflows and eliminate the need for printing, signing, and physically delivering documents.
Digital signatures are crucial for authorising cryptocurrency transactions, verifying the sender’s identity and the legitimacy of the transfer.
Some cryptocurrency wallets use multi-signature technology, requiring multiple digital signatures to authorise a transaction, enhancing security.
As demonstrated by the WazirX hack, multi-signature wallets, while generally more secure, can still be compromised if attackers gain access to the required digital signatures.