lacks standardization and yet has enough use in the market as the

others.

1.5.1.2.5 Ed25519

Ed25519 is a type of EdDSA signature algorithm and yet depends on

SHA-512/256 hashing and Curve25519 elliptic curve. It’s one of the

latest digital signatures and is available in the market only since

2011. It‘s safer and faster than DSA, ECDSA, and EdDSA, plus

comes with a much shorter version than the conventional keys. As

per some cryptography experts, it can be broken by quantum

computers in the future; but till then, it seems to be the safest and

the best.

Note: Certificate authorities work on the principles of asymmetric

cryptography to issue digital certificates and also validate them.

Note: X.509 is an International Telecommunication Union (ITU)

standard for public key certificates that binds an identity to a public

key using a digital signature. It’s heavily used in different

Blockchains and DLT networks.

1.5.2 Hashing

Hashing is one of the ways in which using encryption algorithm, a

string can be converted into another fixed length string as the output;

however, the output string cannot be converted back to the original

value. Hence, hashing is irreversible and always comes with unique

outputs with the same length of characters. Hashing has been

heavily used in the past in storing the passwords in the databases,

so that none would be able to decipher the original value, limiting the

chances of fraud.

National Institute of Standards and Technology (NIST) has published

a group of cryptographic hash functions also as a standard for the

U.S. Federal Information Processing Standard (FIPS). Some of them

are MD5, SHA-256, SHA-512 etc.

1.5.3 Wallet