Cybersecurity has been one of the major concerns in the digital era. Most importantly, online payment modes and transactions involving electronic cash such as Bitcoin, demand high security. To serve the purpose of securing communications, cryptography takes center stage. Cryptography is a technical method to build, analyze and test cybersecurity protocols. Cryptographic algorithms make use of the concept of digital signature that represents digital security code which mostly resembles a password for guarding the data integrity and authenticity. Here are the steps, which describe the working of the algorithm.
• Creation of security keys
Generating keys is an essential step as this initiates the application of cryptography. There are two types of keys namely, private and public. These keys further help in encryption and decryption.
• Generating signatures
This part of the algorithm focuses on encrypting and decrypting the data at the sender’s and the receiver’s end respectively. The process involves the use of data and the key for producing a unique digital signature, which is dedicated to processes like encoding and decoding the data. The user at the receiving end cracks the decoding procedure by applying this digital signature.
• Validation and verification
The algorithm is said to be valid if the generated digital signature successfully decrypts the receivers’ data. A valid algorithm holds the responsibility of verifying the realness of the transmitted data. This step uses various hashing and information matching functions to ensure the integrity of the message.
Each digital signature serves a unique and critical security purpose. Cryptography is a widely used security technique to protect data communications internally within the industry over the intranet and externally over the internet. By employing sophisticated cryptographic algorithms in digital money applications like Bitcoin, cybersecurity attacks can be practically brought to a minimum level.
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