A “proof of ownership” is a digital signatureA digital signature is a cryptographic mechanism designed to provide proof of authority and authenticity in electronic form. In blockchain... that allows a blockchainAs a distributed ledger technology (DLT), a blockchain is a digital ledger that can create an immutable record of transactions.... user to prove that they own a specific piece of data, such as a cryptocurrencyCryptocurrency is decentralized digital currency secured by cryptography. Cryptocurrency utilizes cryptographic protocols to record ownership and prevent counterfeits (when ownership.... By signifying ownershipEvery transaction and block on a blockchain has an owner. An owner is any entity (person, group, or organization) with... with a cryptographic signatureA cryptographic signature is a digital fingerprint that allows someone to verify the authenticity of a message, document, or transaction...., the owner can transfer ownership of the data to another party.
