Bitcoin: Why an immutable chain of digital signatures is important.
When someone puts a signature to something it means that they are admitting responsibility for it.
On a commodity network, that has multiple users, a signature means accountability & accountability means that blame cannot be reassigned to another person. This means that each and every person on the network is liable for their own actions & they are therefore legal obligated, which protects other users of the network.
This means that other users of the network can feel confident that they won’t ever be held responsible for the actions of other users. Therefore, a chain of immutable digital signatures holds each & every user, & developer on the network accountable for their own individual use of it.
A chain of signatures also means that any & all illegal activity can be traced back to its source. It therefore incentivised good, honest behaviour, which in turn increases the economic value of the network as it attracts more users who want to protect themselves, and their data against any fraud & future dishonest behaviours.
This is why an immutable chain of digital signatures is important.