Forward Secure Signature And It's Advantages In The Blockchain Network

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INTRODUCTION

Owing to the basic rule or law of the world that nothing is permanent we all from over a decade ago have been able to witness the change and advancement of the financial industry as we know we got to see the blockchain technology and all its interesting features and also many cryptographic security protocols.

We also got to see as the traditional threat and risk to our finances before changed to varying and constantly changing digital advanced threats which basically led to the development of more advanced cryptographic protocols like the Forward Secure Signatures.

The forward secure signatures which is also known as the key evolving cryptography operates in such a way that in the event that a recently generated key is compromised the integrity of the previously generated keys is still maintained is that not wonderful, In this post of mine I will explaining some of the advantages of the forward secure signature.

• ENSURES LONG TERM SECURITY

The way the forward cryptographic signature operates makes it very advantageous to the blockchain network, owing to the fact that it does not allow the fact that a private key gets compromised to affect or compromise the integrity of past signatures done with that private key.

Therefore, this method of operation makes sure that even over a long period of time the security and integrity of the blockchain network can be maintained and ensured, making it better preferable than the other different cryptographic signatures.

Additionally, this feature or mode of operation perfectly suits and matches with the transparent and immutable nature with which the blockchain keeps records of transactions, since the transaction records cannot be changed the forward signature ensures even in the case where the private key is compromised there is still no need to change it.

• REDUCES THE RISK OF COMPROMISING KEYS

Owing to the significance and importance of the private key and all crucial and different purposes it serves it is important that the blockchain network and owners and users of this key find a way to protect their keys and keep them safe from thieves and people who mean to compromise the security of the network.

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Thankfully, this where the forward secure signature comes in, it practically plays the role of protecting private keys and ensuring its integrity or at least reducing that rate and chances of having our private keys compromised, what devastating effect that would have had if one was implementing other cryptographic signature.

The forward secure signature ensures that risk of getting our keys compromised are reduced by basically running a regular update and change of these private keys to a new or unique one once the set or given time elapses as a result ensuring that old transactions can not be altered using the recent compromised private key.

• STRENGTHENS TRUST AND INCREASES ADOPTION.

I believe you will all agree with me when I say that trust is built on kept promises, the blockchain technology and its ecosystem has promised its users and participants security and even though it looks like the threats and risk are just too many, the blockchain shows its commitment with every advancement in security measures and cryptographic protocols or signatures.

Therefore we can come to a conclusion that as a result of creating, adopting and implementing the forward secure signature which has very advanced features and protocols that are sure to deliver on the promise of ensuring and maintaining security, the blockchain is sure to strengthen the trust users have in it.

Additionally, as a result of this increased and strengthened trust, there will also be similar not equal though increase in the number of people or individuals who wull now become willing to adopt the blockchain technology and its networks for whatever use cases they might find it to be applicable for them.

• ENHANCES SCALABILITY AND INCREASES PERFORMANCE EFFICIENCY

Scalability which can basically be said to be measure of the amount of work load a system or network can basically take on without have drastic or negative effect on its efficiency or performance whatsoever, can be increased by the forward secure signature owing to its feature of regularly updating keys helps to simplify the process of managing keys.

Unlike the other cryptographic signature who do not practice regularly updating keys, the blockchain network when it uses or implements the forward secure signature is able to cut down on the computational overhead of storing private keys of its users how many they might be hence, the performance efficiency is increased and ultimately scalability too will be increased or enhanced.

CONCLUSION

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In conclusion, I would like to render my deepest appreciation ahead of time to the moderators who take their time and make the effort to go through this post, also yo my fellow steemians I say a very big thank.

In this post of mine I was able to explain the different advantages of implementing the forward secure signature and I hope you remember, some of them include; enhancing scalability and improving efficiency, reduces the risk of key compromise, ensuring long term security and the last but not the least strengthen the trust of th users.