Incorruptible blockchain technology and the blind signature in overall transactions

by Wirba Brice Divine Ransinyuy

It is of no new knowledge that the main predominance of the blockchain technology is the financial world and its various systems. The blockchain technology is so much involve in the financial world in such a way that it needs to have the highest security in terms of protection of user’s data and information. Due to this, the blockchain technology uses a lot of mechanism to protect user’s data from both internal as well external attacks and third parties. As such, the blockchain technology is known to be incorruptible and one ways, it is known for it is through is the blind signature.

The blockchain technology is known for its incorruptibleness since, anyone trying to undo its security protocols is acting powerlessly.  One of the reasons for this is due to the fact that there is no third party involved in the blockchain technology. An expert in blockchain technology known as Augier, explained by saying that no one could breach the blockchain technology unless the person has control of more than 50 percent of its computing power, something which is not of the ordinary. Moreover, if the blockchain technology should be breached, the person could be easily noticed and identified as the individual will require so much energy and power to the computer to corrupt the blockchain technology and its system.

One of the reasons the blockchain technology is resistant is the blind signature. The blind signature is a form of digital signature in which the content of the information is hidden ever before the document is being signed. Blind signatures are so often used in privacy protocols where the message author and signer are of different entities. An example of a blind signature is digital cash schemes and cryptographic election systems. Through the blind signature, both parties are being preserved and their identity will never be revealed. Moreover, the gotten blind signature can be publicly verified against the original. The public verification is being done in the manner of a regular digital signature like the ones commonly used in pdf schemes.