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Introduction to Web 3.0

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The differences between Web 2.0 and Web 3.0

The future of the internet

Understanding the potential of Web 3.0

Introduction to Web 3.0

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Limitations

The major challenges faced by digital signature schemes rely on at least three requirements: 

  • Algorithm. The quality of the algorithms used in a digital signature scheme is important. This includes the choice of reliable hash functions and cryptographic systems.
  • Implementation. If the algorithms are good, but the implementation is not, the digital signature system will likely present flaws.
  • Private Key. If the private keys get leaked or somehow compromised, the properties of authenticity and non-repudiation will be invalidated.

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Public-key cryptography (PKC)

Public-key cryptography, or PKC, refers to a cryptographic system that makes use of a pair of keys:

  • one public key
  • one private key.

The two keys are mathematically related and can be used for both data encry...

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Hashing the data

Hashing the data is not a must for producing a digital signature because one can use a private key to sign a message that wasn’t hashed at all.

But for cryptocurrencies, the data is always hashed because dealing with fixed-length digests facilitates the whole process.

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Use cases

Digital signatures can be applied to various kinds of digital documents and certificates. As such, they have several applications. Some of the most common use cases include: 

  • Information Technology. To enhance the security of Internet communication systems.

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Electronic signatures vs. digital signatures

Electronic signatures vs. digital signatures

Digital signatures relate to one particular kind of electronic signatures - which refer to any electronic method of signing documents and messages. Thus, all digital signatures are electronic signatures, but the opposite isn’t always true.

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Verifying

Let’s take an example to illustrate the whole process until the final step of verification. Imagine that Alice writes a message to Bob, hashes it, and then combines the hash value with her private key to generate a digital signature.

The signature will work as a unique digital fing...

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Signing

After the information is hashed, the sender of the message needs to sign it. This is the moment where public-key cryptography comes into play. There are several types of digital signature algorithms, each with its own particular mechanism.

But essentially, the hashed message will be...

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How digital signatures work

In the context of cryptocurrencies, a digital signature system often consists of three basic steps:

  • hashing
  • signing
  • Verifying.

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Why are digital signatures important?

Digital signatures are often used to achieve three results:

  • data integrity,
  • authentication,
  • non-repudiation.

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What Is A Digital Signature?

What Is A Digital Signature?

  • A digital signature is a cryptographic mechanism used to verify the authenticity and integrity of digital data.
  • We may consider it as a digital version of the ordinary handwritten signatures, but with higher levels of complexity and security.

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