Transaction authenticity confirms that a digital transaction genuinely originates from the stated sender and has not been tampered with. In blockchain systems, this is primarily achieved through cryptographic signatures, where a private key holder signs the transaction data. The network then verifies this signature using the corresponding public key, ensuring the transaction’s integrity and provenance. This verification process prevents unauthorized transfers and confirms the sender’s explicit approval.
Context
News frequently highlights the importance of transaction authenticity in preventing fraud and securing digital asset transfers, especially in light of increasing cyber threats. Discussions often center on advancements in signature schemes and wallet security to further bolster this fundamental property. The robust verification of authenticity is critical for maintaining user confidence and the overall security of decentralized finance.
This research introduces threshold signature schemes, specifically CGGMP21, to fundamentally enhance Central Bank Digital Currency security by eliminating single points of failure in private key management.
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