Digital Signature API vs. Traditional E-Signature Platforms: What Is The Difference?
There is a lot of buzz going on about the similarity between ‘electronic signatures’ and ‘digital signatures.’ While both have similar features, there are a few major differences between the two. All digital signatures are e-signatures, but not every e-signature is digital. While e-signatures are easily accessible and easy to use, digital signatures employ a robust cryptographic network, making them more secure and trustworthy. However, both have
their own set of advantages, this article pens down the major differences between the two:
Authentication and Data Protection
Digital signature API delivers a stronger framework of data security compared to
e-signatures. Leveraging hash functions and cryptographic keys, these signatures enhance the security level and authentication, making it completely safe against unauthorized changes, and ensuring document integrity. Electronic signatures are also secure but do not necessarily incorporate blockchain security and mostly work on two-factor authentication, SMS, and ID verification.
Verification Procedure
Digital signing API has a robust verification process compared to their electronic signature counterparts. The combination of cryptographic keys and hash functions guarantees a higher-level verification process, enabling the recipient to verify the
authenticity of the signer. They can easily verify the integrity of the document by matching the digital signature with the public key provided in the digital certificate of the signer.
Electronic signatures have a simple verification process and confirm the signer's identity using biometric information, PIN, or passwords. While e-signatures are easily accessible, the verification procedure fails to match the level of digital signature API.
Regulatory Compliance
Digital signatures are developed to meet high regulatory standards, particularly in areas that require crucial compliance to safety, such as healthcare, finance, etc. Achieving such regulatory standards involves cryptographic algorithms, obtaining of certificates from trusted authorities, and adherence to industry regulations. On the other hand, e-signatures are usually preferred in areas that do not operate in a highly regulated landscape and local laws and regulations govern their Legal acceptance. E-signatures also follow a strict regulatory requirement, but they are less robust compared to digital signatures.
Legal Standing
E-signature is owing to its advanced security protocols. With a solid foundation, assurance and superior security features, digital
signatures have gained widespread popularity compared to e-signatures.
Complexity in Rollout
Deploying digital signatures involves a more complex setup owing to its cryptographic
infrastructure. Right from obtaining the certificates from trusted authorities, maintaining private and public keys, and ensuring adherence to industry-specific protocols, the process is quite complex. On the contrary, e-signatures do have a simple rollout process as they do not have a cryptographic infrastructure and implement basic forms of user authentication.
Small businesses and individuals looking forward to deploying e-signatures can consider using e-signatures as they are more accessible compared to digital signature API.
Conclusion
For businesses taking a digital switch, it is crucial for them to understand the differences between e-signatures and digital signatures to choose the best that suits their business
profile. While E-signatures offer the advantage of easy rollout and accessibility and are well suited for small businesses and individuals, digital signatures API are suited for business environments that require a higher level of security. So, how do you choose between the two? The call is entirely yours based on the security level and assurance your business requires!