Threshold Signature
Threshold Signature is a form of digital signature where a group of participants each hold a share of a private key. A predefined number of these participants (the threshold) must collaborate to produce a valid signature, while a single participant alone cannot do so.
How does it work?
Key Generation: A master private key is split into several shares using a secret sharing scheme.
Signature Creation: A subset of participants (meeting the threshold) each use their private key share to generate partial signatures.
Signature Aggregation: These partial signatures are combined to form a complete signature, which can be verified with the corresponding public key.
Benefits
Enhanced Security: No single point of failure since the private key is never fully reconstructed.
Fault Tolerance: The system remains operational even if some participants are unavailable or compromised.
Scalability: Efficient in large networks, reducing the burden on any single participant.
Collusion Resistance: Higher resistance to collusion attacks, as an attacker needs multiple key shares to forge a signature.
Threshold Signatures improve the security and privacy of digital transactions. They foster a more inclusive and privacy-respecting digital environment.
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