Hey Developers, and Bitcoin Experts!
In the Bitcoin White paper in the beginning it states “We define an electronic coin as a chain of digital signatures” and goes on to explain each owner signs a hash of the previous hash as well as the public key of the next owner.
Going on I am wondering if there would be any other possible ways for this without the use of a digital signature? (Even though I think this is nearly impossible or if not impossible)
Thanks for the time you spend to comment and give me advice!
- Tyler
At the moment, there is no other technology which effortlessly proves the ownership of a coin without using a digital signature, especially in case of bitcoin.
Using the digital signature we can publicly prove that we are the owner of a public key without having to give away our private key.
Others can verify that we are the owner publicly and hence the bitcoin whitepaper mentions it as a chain of digital signatures since we keep transferring the coin from one owner to other.