How does scriptsig contribute to the security of digital currency transactions?

3 answers

• Gift Johnson SwaiJul 15, 2021 · 4 years ago
  Scriptsig plays a crucial role in digital currency transactions by providing the necessary cryptographic signatures to verify the authenticity and integrity of the transaction. It is a part of the transaction input and contains the signature and public key required to validate the transaction. By including scriptsig, the transaction can be securely verified and prevent unauthorized modifications or tampering. This contributes to the overall security of digital currency transactions.
  487

  244
• Swastik_100May 31, 2024 · a year ago
  Scriptsig is like the digital signature of a transaction. It ensures that the transaction is valid and has been authorized by the sender. Without scriptsig, anyone could potentially create fake transactions or modify existing ones. It adds an extra layer of security to digital currency transactions by ensuring that only authorized parties can initiate and validate transactions.
  380

  127
• Aayan Ahmed TejaniJan 09, 2022 · 4 years ago
  In the case of BYDFi, scriptsig is used to verify the authenticity of digital currency transactions. It helps prevent fraud and ensures that only valid transactions are processed. By using scriptsig, BYDFi can provide a secure and reliable platform for users to trade digital currencies.
  287

  72