Ring Signature
By CoinGecko | Updated on Mar 03, 2020
Initially designed in 2001, ring signatures was proposed as a method to "leak a secret". For example, a ring signature could be used to provide an anonymous signature from "a high-ranking White House official", without revealing which official signed the message. Ring signatures are similar to group signatures but differ in two key ways: first, there is no way to revoke the anonymity of an individual signature, and second, any group of users can be used as a group without additional setup. This signature implementation was then incorporated in cryptocurrency design which gave birth to Monero and other privacy coins.
Related Terms
Wallet
Software client that handles storage of cryptocurrencies and allows users to send cryptocurrencies.
Decentralized Applications (dApps)
Applications that run on decentralized peer-to-peer networks such as Ethereum.
Decentralized Finance (DeFi)
Decentralized Finance (DeFi) refers to the movement of building decentralized financial applications that have no central authority and is censorship free.
Token Generation Event (TGE)
An event in which new tokens (ussually on a smart contract platform) are created and distributed to the public.
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