Abstract
It is always a trendy topic about virtual currency nowadays in the world. These virtual currencies like Bitcoin and Monero are precious and cryptic, which play a more critical role in the economy since no departments or governments control their transactions and deals. How could the transaction system provide users with security and protect their property? What's more, one of the most important characteristics is that all the transactions are untraceable, which means that the governments and the users cannot figure out the identity of another user. This paper discusses some principles of Bitcoin and Monero. For instance, some encryption algorithms like ECDSA and ED25519 are applied to help users to verify the whole transaction, and Ring signature is used in Monero to conceal the user's identity. Meanwhile, this article will also compare some encryption algorithms' security and efficiency. Moreover, there would be a discussion about some advanced communication technologies. For example, there would be a brief introduction to quantum communication and entanglement. Then, it would also have an intense debate about the future of ECDSA and ED25519 if quantum communication and quantum entanglement were invented.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.