So private key and transaction id creates a digital signature?

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Yup, you use your private key to sign the transaction data, which includes the tx ID and other bits. This process creates the digital signature.

It's like sealing a letter with a wax stamp – proves it's from you and hasn't been tampered with. 💌🔏✨

So a user with the transaction id and the digital signatures mean he/she has the private key/s?