How Does a Smart Contract Verify a Digital Signature?
A smart contract verifies a digital signature using the oracle node's public key and the message (the data report) that was signed. The contract applies a cryptographic verification function to the signature, the public key, and the message.
If the signature is valid, the function returns "true," confirming that the data was signed by the corresponding private key and has not been altered. This process is computationally intensive and is why TSS is used to reduce the number of signatures to verify.
Glossar
Cryptographic Verification Function
Cryptography ⎊ This function relies on established mathematical primitives, such as elliptic curve digital signature algorithm or RSA, to generate a unique, non-forgeable seal for data payloads.
Digital Signature
Authentication ⎊ A digital signature, within cryptocurrency, options trading, and financial derivatives, functions as cryptographic attestation of a transaction’s origin and integrity, ensuring non-repudiation for the signatory.
Smart Contract
Code ⎊ The contract is fundamentally self-executing code deployed on a distributed ledger, embodying the terms of the agreement in an immutable format.