Towards Web3: Ed25519, Ed448 and Ed2551-Dilithium

When it all comes down to it, Web 3 — at its lowest layer — involves the trusted digital signing of transactions and will start to properly integrate digital trust into our Internet. It will support the true integration of the digital identity of the citizen into our digital world, and in the integration of their wallets (and which would store their private key).

The two main methods for achieving a digital signature at the current time are ECDSA (as used by Bitcoin and Ethereum) and EdDSA (as used by IOTA and many other applications). Both have their advantages. If we need compatibility with EVM (Ethereum Virtual Machine), we will probably focus on ECDSA. This signature method also allows us to derive the public key used to verify the transaction, which makes it easier to check a signature against a public identifier (and which is derived from a private key). With EdDSA, we have special features which allow us to aggregate the public keys used for the signing process into a single verifiable public key, along with being able to aggregate digital signatures into a single verifiable signature. Another key feature of EdDSA is that it allows for computation to be distributed, which is a key feature of Web 3, and where we break away from the centralised approach of our existing Internet.