For all those businesses where security is a concern, recommending Blockchain is quite common now. With that, the experts also think about cloud-based storage and digital signature online solutions. Therefore, we can say that combining these emerging technologies is a hot topic in the security industry. However, the issue is that people do not know much about Blockchain.
On the other hand, digital signature online solutions have been popular in the market for more than two decades now. The companies use this technology to improve the documentation speed and keep contracts away from unauthorized individuals, suspicious parties, or malware. The best online signature app provides non-repudiation, integrity, and authentication to those electronically transferred contracts sent to the concerned parties.
While talking about Blockchain, it is the most advanced security system in the world. It consists of some well-organized and secure procedures and techniques to manage immutable data copies and authenticate them. In this way, the companies can secure all their transactions and other confidential data.
The companies use digital signatures to create a customized contract, use emails, and other documentation procedures. Electronic signature online apps use mathematical algorithms to achieve this target. In this way, the solutions produce a hash that we also say signature. Behind creating a hash, these solutions use the data stored in the key and message content.
How did digital signature online solutions evolve recently?
In the early years of the 21st century, digital signatures were available for the companies in their initial form. However, over the years, this technology has become more secure and protected. For that, these solutions use advanced signature systems, and information that is stored to the key, and different cryptographic types.
Now, many companies have started using advanced electronic signatures. In these solutions, an added security layer has also been introduced. This extra layer controls private and public keys and signatures so that you can identify the data, which have tempered and time when this activity has been performed. It means that the best online signature apps are invincible. Therefore, corporations, multinational companies, financial service providers, and security-related companies love these applications for non-repudiation and authentication. More importantly, the awareness about digital signatures has also increased in the market. Businesses think that they can now avoid security incidents when they use the best online signature app.
What is Blockchain?
In the cyber world, less-effective and less-perfect systems are replaced with more advanced, much improved, foolproof stone-secure systems. In this way, organizations can block all types of cyber-attacks more effectively and efficiently.
Currently, Blockchain is the most secure, protected, advanced, and automated system in the world. Therefore, IT experts consider Blockchain the biggest hit of the 21st century. It was implemented for the first time by Bitcoin. Until now, Bitcoin has been considered the best and most advanced cryptocurrency in the world. More interestingly, all top financial institutions, banks, financial companies, financial services clearing corporations, and NASDAQ have shifted their system to Blockchain. They think that using Blockchain can be the most innovative solution to improve data transactions tremendously. This technology can help them implement additional security measures that can be a necessity in future transactions.
More about Blockchain
When we look into the details of Blockchain, we find it complicate. However, it is not as difficult as we think. In simple words, there is timestampe data divide into a series of records. All these records are link together. In this way, it forms a chain. When we create a transaction in Blockchain, it records the previous transaction hash. So, the signer uses the public key of the recipient with his private key. During all the transactions, the signer needs to use the private key. And if you do not have a private key, it is bad luck because you cannot do any transaction.
The intent behind Blockchain is to restrict the access of all third parties away from all transactions, contracts, and other documentation. It means that you do not need the certificate authorities that you require when using a digital signature online. All third and trust parties will be replace by Blockchain when you decide to use Blockchain.
Another important aspect of this discussion is that no one can go backward to cover the corruption, if any, in the previous transactions. Overall, this technology is base on the following properties and features:
Log-base replication is the most important and appreciate property of Blockchain. All distribute systems can use this technology to replicate logs of all types available in all peers in a specific network.
Provable Value Chain
Generally, there is a digital currency, which can also be Bitcoin, that we store as a value in Blockchain. We can also store other assets, like data, documents, assets, and other data types. In this way, all blocks provide us with all the changes because a hash is available for each block. This feature helps us secure the data integrity of our assets available in the block asset.
It is similar to the public-key cryptography that digital signature online apps offer to us. However, specific cryptography types like elliptic curve and ECDSA are used to make all transactions authenticate and authoritative.
Decentralize transaction ledger
Another crucial property of Blockchain is that you can consider it a ledger. You can maintain this ledger with ease and without using the services of central authority. In this way, you can use Blockchain as a decentralize reconciliation solution for all your transactions.
Understanding the relationship between Blockchain and Digital Signature Online
The best online signature apps are consider the most important solutions to create a customized contract in organizations. Many organizations consider digital signature and electronic signature online the most crucial part of their security strategy. The reason is the involvement of third parties that issue signature certificates. The reliability of the E-signature online app has also been increased due to the complex mathematical algorithms. These algorithms can keep all security breaches and forgeries away from your data. It means that the authenticity of data can be improve a lot.
Conversely, Blockchain becomes a part of the organization due to its features of reconciliation ledger. Another significant feature of Blockchain is that it allows multiple users to use data by using their digital signatures. Blockchain also uses distribute information, timestamps, fingerprints, face recognition, and many other solutions. It also helps you recognize the user. Blockchain can also distribute information in a specific network by using multiple systems.
The “Proof-of-work” concept has been quite popular for decades in organizations. The plus point of Blockchain is that it has made this concept more important in organizations. When you use Blockchain, you make sure that transactions will not be edited now. It means that your transactions and documents are more secure and safe. Digital signature online solutions offer the same technology with a slight difference.
When we use the most advance digital signature solutions, we can find very similar terms. For example, both Blockchain and electronic signature online apps have cryptographic keys. In both the technologies, timestamps, audit trail, private and public keys, cloud-base databases, recording of time, location, and system type, and hash signatures are available. Therefore, we can say that Blockchain is the next version of digital signature online. However, Blockchain is generally use for financial organizations and the security industry. On the other hand, the best online signature apps are suitable for all types of organizations.
The Bottom Line
Both Blockchain and Digital Signature Online are popular because both provide the maximum security and protection to the data associate with the organizations. However, Blockchain is far more advance technology while comparing it with electronic signatures online. On the other hand, it can be more expensive for organizations. Still, we can say that there are some doubts about security even after incorporating digital signatures or Blockchain.
One of the reasons is that there is not much advancement in technology in many countries except the United States and some European countries. With that, the governments of many companies do not have strong policies and laws relate to digital signature online and Blockchain.
Overall, we know that the security and protection of business data is a major concern. So, we can assume that digital signature online, and Blockchain may become a need for all businesses in the next few years. With that, we can also claim that security-relate concerns relate to both these technologies will also be address more convincingly.