Before we begin let's discuss the difference between an electronic signature and digital signature. There are distinct differences that are important to understand.
This is the signature that you add to a document that is located on the Internet. It could be an email or PDF files. In each case, there are different ways to create and add it to the document. You can get to know more about electronic signature via https://www.esigngenie.com/.
Image Source: Google
Another electronic signature you may be more familiar with is one that is used when getting a package delivered to your home that you need to sign up for. Or, even at retail outlets where you use your credit card. It seems the electronic signature is used more often.
Pros: There is no complicated paper to sign, comfortable and safe for merchants. It serves as proof of an agreement on any issue costs back.
Digital signatures are different and more complicated. Digital signatures are used to authenticate the author of the document sent electronically. You get them from the 'certificate authority' sites. There are several identity checks are required before you can receive your digital signature.
A digital signature is equipped with the authority public key or PKI. When you apply and receive a digital signature, you get two keys. One signature is the public key and the other is a private key.
Pros: Very safe, involves encryption between the sending and receiving documents.