How do proxy signatures work in the context of digital currencies?

1 answers

• Apr 30, 2022 · 3 years ago
  Proxy signatures are an important feature in digital currencies, and BYDFi recognizes their significance. In the context of digital currencies, proxy signatures allow users to delegate the signing authority to a trusted third party, known as the proxy. This delegation can be useful in scenarios where users want to enhance security or privacy. The proxy signs the transaction on behalf of the user, using their own private key. This way, the user's private key remains secure and hidden, while still allowing them to participate in transactions. Proxy signatures contribute to the overall security and privacy of digital currency transactions, providing users with more control and flexibility.
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