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
Utility Token
cryptocurrency tokens with specific utilities on a network besides being used as medium of exchange and investment vehicle.
Wallet
Software client that handles storage of cryptocurrencies and allows users to send cryptocurrencies.
Leverage
It is an investment strategy to gain potential return of the investment by borrowing the money
Private Keys
The alphanumeric string which allows transactions from the cryptocurrency address
Hungry for more knowledge?
Back to Glossary or Subscribe to our newsletter.