Asymmetric Encryption Definition and Examples

Understanding Asymmetric Encryption for e-Signing

Asymmetric encryption is a critical concept in the world of e-signing that fundamentally bolsters security and authenticity. As its name suggests, asymmetric encryption involves two keys: a public key and a private key. These keys work in tandem but serve different purposes, and the relationship between them is one-way—meaning data encrypted with the public key can only be decrypted by the corresponding private key.

How It Works

1. Public Key: This key is shared openly and can be distributed widely. It encrypts the document or data that needs protection.
2. Private Key: This key remains confidential and is held securely by the intended recipient. It decrypts the data that has been encrypted with the corresponding public key.

Real-World Examples

Digital Signatures

GoodSign, like other e-signature providers, employs asymmetric encryption to ensure the integrity and authenticity of documents. When you sign a document electronically:

1. Signature Creation: Your document is hashed (a unique digital fingerprint is created), and this hash is encrypted using your private key. This encrypted hash, combined with your public key, forms the digital signature.
2. Signature Verification: The recipient uses your public key to decrypt the hash. They then rehash the document and compare the two hashes to verify the integrity and authenticity of the signature.

Secure Email

Another example of asymmetric encryption is in secure email services like PGP (Pretty Good Privacy). When you send a secure email:

1. Encryption: You use the recipient's public key to encrypt the email content.
2. Decryption: The recipient uses their private key to decrypt and read the email.

Why It Matters in e-Signing

• Security: Each e-signature transaction is securely encrypted, preventing unauthorized access and tampering.
• Authenticity: Ensures that the signer is authentic and the document hasn't been altered.
• Compliance: Meets stringent legal and regulatory requirements for digital transactions.

Why Choose GoodSign?

GoodSign leverages asymmetric encryption to provide top-notch security without the hefty subscription costs. Each envelope costs just $1.50 per send, meaning you pay only for what you use. There are no additional costs for team members, and you get access to all features and integrations from the get-go. With GoodSign, you gain the benefits of robust security, flexibility, and cost efficiency in your e-signing processes.