Modified Elliptic Curve Cryptography Multi-Signature Scheme to Enhance Security in Cryptocurrency

Abstract

Internet of Things (IoT) is an emerging technology that moves the world in the direction of smart things. But, IoT security is the complex problem due to its centralized architecture, and limited capacity. So, blockchain technology has great attention due to its features of decentralized architecture, transparency, immutable records and cryptography hash functions when combining with IoT. Cryptography hash algorithms are very important in blockchain technology for secure transmission. It converts the variable size inputs to a fixed size hash output which is unchangeable. Existing cryptography hash algorithms with digital signature have issues of single node accessibility and accessed up to 128 bytes of key size only. As well as, if the attacker tries to hack the key, it cancels the transaction. This paper presents the Modified Elliptic Curve Cryptography Multi Signature Scheme (MECC-MSS) for multiple node accessibility by finding nearest path for secure transaction. In this work, the input key size can be extended up to 512 bytes to enhance the security. The performance of the proposed algorithm is analyzed with other cryptography hash algorithms like Secure Hashing Algorithms (SHAs) such as SHA224, SHA256, SHA384, SHA512, SHA3-224, SHA3-256, SHA3-384, SHA3-512 and Message Digest5 by one-way analysis of variance test in terms of accuracy and time complexity. Results show that the MECC-MSS achieves 90.85% of accuracy and time complexity of 1.4 nano seconds with significance less than 0.05. From the statistical analysis, it is observed that the proposed algorithm is significantly better than other cryptography hash algorithms and also having less time complexity.