Ring Signature
By CoinGecko | Updated on Mar 03, 2020
Initially designed in 2001, ring signatures was proposed as a method to "leak a secret". For example, a ring signature could be used to provide an anonymous signature from "a high-ranking White House official", without revealing which official signed the message. Ring signatures are similar to group signatures but differ in two key ways: first, there is no way to revoke the anonymity of an individual signature, and second, any group of users can be used as a group without additional setup. This signature implementation was then incorporated in cryptocurrency design which gave birth to Monero and other privacy coins.
Related Terms
KYC (Know Your Customer)
KYC stands for "Know Your Customer", a process for business entities are required to verify its clients and assessing them.
Dump
A common term used to describe downward market movement, or to describe the action of selling an individuals holdings.
Blockchain
In Bitcoin's case, blockchain describes its decentralized, public ledger which contains transactional information.
Hashrate
Total processing power of a blockchain or what is the same, are the amount of hash values that can be made in a period of time.
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