Famous Digital Signatures Used In Smart Contracts

Abstract

This paper introduces the process of digital signatures and their importance in smart contracts. There are a lot of digital signature algorithms. Some of these algorithms, such as Elgamal algorithm, Schnorr algorithm and Elliptic Curve algorithm, are suitable and efficient to be used in some applications, such as smart contracts and achieve high security andgood results. Schnorr was described by Claus Schnorr. It is based on the intransigence of specific discrete logarithm problems and is renowned for its simplicity. Elgamal algorithm was developed in 1984. It has quick performance, low power consumption, and is resistant to adaptively chosen-cipher text attacks. The Curve signature was developed in 1985. It has a performance that is quicker than Elgamal algorithm. Also, it consumes less power than Elgamal algorithm, and it is more resistant to different types of attacks. On the other hand, others are slow and have low security.