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Hashing Power
Hashing power (also called hash rate) refers to the computational power used by a network of computers (often referred to as nodes or miners) to solve complex mathematical problems involved in validating and adding transactions to a blockchain. The higher the hashing power, the more computational resources are being used, and the more secure the…
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Proof-based Consensus Algorithms
Proof-based consensus algorithms are mechanisms used in decentralized networks (like blockchain systems) to achieve agreement on the state of the system, ensuring that all participants (nodes) agree on the same version of the data (e.g., transactions) without a central authority. These algorithms are based on requiring participants to provide a “proof” to validate their participation…
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Elliptic Curve Discrete Logarithm Problem (ECDLP)
The Elliptic Curve Discrete Logarithm Problem (ECDLP) is a fundamental mathematical challenge that underpins the security of elliptic curve cryptography (ECC). It is the elliptic curve analog of the discrete logarithm problem used in other cryptographic systems like Diffie-Hellman and DSA. Definition: Given a point P on an elliptic curve and another point Q which…
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Factoring (Mathematics) in Cryptography
In mathematics, factoring (or factorization) refers to the process of breaking down a mathematical object, such as a number or a polynomial, into a product of smaller or simpler objects, called factors, that when multiplied together yield the original object. Factoring of Numbers For integers, factoring refers to expressing a number as the product of…
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Decentralized Identity (DID)
Decentralized Identity (DID) refers to a concept and technology that allows individuals or organizations to have control over their digital identities without relying on a centralized authority. It leverages blockchain and other decentralized technologies to enable secure, self-sovereign identity management, giving users ownership of their personal data and how it is shared with others. Key…
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RSA (Rivest–Shamir–Adleman)
RSA (Rivest–Shamir–Adleman) is one of the most widely used public-key cryptosystems, primarily for secure data transmission. It is based on the mathematical difficulty of factoring the product of two large prime numbers, which is the foundation of its security. RSA is used for both encryption and digital signatures, and its security comes from the computational…
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Schnorr’s Signature
Schnorr’s signature is a type of digital signature scheme used in cryptography, known for its simplicity, efficiency, and strong security properties. It was invented by Claus-Peter Schnorr and is based on the hardness of the discrete logarithm problem, making it both fast and secure for certain cryptographic operations. Key Features: How it works: Schnorr’s signature…
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Know Your Customer (KYC)
KYC, or “Know Your Customer,” is a process used by financial institutions to verify the identity of their clients and assess their potential risks, primarily to prevent illegal activities like money laundering, fraud, and terrorist financing. This process usually requires customers to submit personal identification documents (e.g., passport, utility bills), which are then verified by…
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Permissioned & Permissionless systems
Permissioned and Permissionless systems are two types of blockchain architectures that determine how participants can access, interact with, and contribute to the network. The key difference lies in who is allowed to participate and how control is managed across the network. Permissioned Blockchain Systems A permissioned blockchain restricts participation to a predefined group of entities.…
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Self-Sovereign Identity (SSI)
Self-Sovereign Identity (SSI) is a concept in digital identity management that allows individuals or entities to have full control and ownership over their personal data and digital identities without relying on a centralized authority. With SSI, individuals can manage their identity independently, securely store personal data, and selectively share only the necessary information with third…
