A Secure Multiple Elliptic Curves Digital Signature Algorithm for Blockchain
This addresses security risks for blockchain and cryptocurrency systems by mitigating backdoor threats, though it is incremental as it builds on existing elliptic curve methods.
The paper tackles the vulnerability of blockchain systems to backdoors in the secp256k1 elliptic curve by proposing a multiple elliptic curves digital signature algorithm (MECDSA) that allows customization of curve parameters and number, proving it is secure and efficient with analysis.
Most cryptocurrency systems or systems based on blockchain technology are currently using the elliptic curves digital signature algorithm (ECDSA) on the secp256k1 curve, which is susceptible to backdoors implemented by the curve creator (secp256k1). The paper proposes a multiple elliptic curves digi-tal signature algorithm (MECDSA), which allows not only for setting the number of elliptic curves according to practical security requirements, but also for editing the parameters of each elliptic curve. The performance analy-sis proves that the scheme is secure and efficient, and can avoid any back-doors implemented by curve creators. We suggest that the systems based on blockchain should operate in two elliptic curves considering the contradic-tion between security and efficiency.