What is Ring Signature?

A ring signature is a mechanism that is used to conceal the details of a digital signature in order to hide the specific details of the relevant network transaction. This unique digital signature format can be used by any member of a group of users that is in possession of the correct cryptographic keys. Therefore, it is nearly impossible to determine which group member's keys were used to produce the signature, which essentially allows the sender of a transaction to remain anonymous and untraceable. The name 'ring signature' is denoted by the ring-like structure of the signature algorithm, and Monero was the first blockchain network protocol to implement ring signatures in 2015.