What Is EDS?
Electronic Digital Signature (EDS) is a sequence of symbols, a requisite element of a signed e-document. Cryptographic processing of the document's electronic data provides the meaning of the requisite. This method uses asymmetric encryption – direct and indirect processing requires different keys (Private EDS Key and Public EDS Key). EDS functions properly only when both keys are used.
Every trader of an exchange trade participant receives both keys, as well as a public key certificate (a document confirming the ownership of the key by the individual). Both keys are issued by the Certifying Authority «BUCE».
Private EDS Key is a unique sequence of symbols 264 bits long. Private Key generates electronic digital signature and allows signing e-documents. The owner should keep his key in secret - it is essential for its safe use. Private EDS Key is often issued on a copy-proof USB-flash drive.
In turn, Public EDS Key is calculated from a Private Key, and the calculation method prevents getting Private Key from the Public one. Therefore, Public and Private Keys are unequivocally connected and function only in pair. Public Key is used for EDS verification.
Private Key is kept in a huge secret, whereas Public Key is freely transferred via open information channels.
Counterparts of exchange transaction should exchange their Public Keys in order to exchange original e-documents (contracts, acts, etc.). Owning Public Key of a counterpart B, counterpart A can verify the EDS of an original document signed by counterpart B with their private key. Counterpart B should do the same.
Certifying Authority «BUCE» handles Public Keys and provides any exchange trade participant with access to the original Public Key of any other participant. Certifying Authority also protects the keys from substitution and withdraws the keys in case of their compromise.
So, counterparts can freely exchange secret data with no risk at all.