In today’s blog post we will take a closer look at one of the core concepts of IOTA and any crypto currency, namely public key cryptography and digital signatures.
In IOTA, in order to transfer tokens from one address to another, you create a transaction. A transaction contains information about the payer, the receiver, and how many tokens should be transferred. Of course, it is crucial that not just anyone can create such a transaction, but only the owner of the tokens. In the legal world this is done by adding a signature under a contract. In the digital world we have digital signatures exactly for that purpose. However, unlike their pen and paper counterparts, they are even stronger as they also guarantee that not a single letter can been changed in your contract after it has been signed.
In the last 50 years, cryptography…