ECDSA: (v, r, s), what is v?

ECDSA: (v, r, s), what is v?

Deterministically signing a Tx with RFC6979 returns v, r, s, where r and s are the 2 values used in standard ECDSA signatures. v = 27 + (y % 2), so 27 + the parity of r, as pybitcointools indicates.

So for even r, we get v = 27, odd r we get v = 28.

How is the value of v (27 or 28) important? Why is it necessary to have a v value? Also, why is it 27?

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