Ring Signatures: What Are They & Do They Ensure Privacy in Monero
The pseudonymity of Bitcoin made it appealing to many new users, especially in its early days. However, its pseudonymity has become strained over the years as it began being surveyed by blockchain analysis firms and government agencies. As a result, privacy coins like Monero emerged, with embedded privacy protection at the base layer through the use of ring signatures. Read on to find out what ring signatures are, how they work, and how they provide privacy for Monero users. What Are Ring Signatures? A ring signature is a privacy-enhancing , cryptographic digital signature used to protect any information on signatures made by Monero users when they want to make any transaction. Ring signatures are one of the earliest cryptographic creations ever to be made, and they remain effective to date. A ring signature typically involves a group of users who all own keys. When using a ring signature , it’ll appear as though a group of users have merged together (f...