New digital signature algorithm based on ECC and its application in bitcoin and IoT

Abstract

Elliptic curve digital signature algorithm (ECDSA) is the simulation of digital signature algorithm (DSA) algorithm on elliptic curve. Compared with DSA, ECDSA has higher security and is the only widely accepted ECDSA, which has been adopted by many standardisation organisations. Based on the study of the original ECDSA scheme, this paper attempts to propose a new improved scheme. The proposed scheme has one main improvement. That is, considering that the original scheme has a finite field inversion process in the signature equation, the time-consuming inversion operation is completely avoided in the design. The proposed scheme has faster computation speed and reduces the ratio of verifying signature to signature generation time. The algorithm has certain significance for improving the efficiency of elliptic curve cryptography. Our simulation results show that the scheme runs faster and has higher signature and verification efficiency than that of the original scheme without compromising security. What's more, we also explore its application in bitcoin and Internet of Things (IoT).