The Cryptocurrency Simulation using Elliptic Curve Cryptography Algorithm in Mining Process from Normal, Failed, and Fake Bitcoin Transactions

Abstract

On each cryptocurrency transaction, a high-level security is needed to protect user data as well as data on the transaction. At this stage, it takes the appropriate algorithm in securing transactions with more efficient processing time. The Elliptic Curve Cryptography (ECC) is one of the cryptography algorithms which has high-level security, and ECC is often compared with the Rivest, Shamir, and Adleman (RSA) algorithm because it has a security level that is almost the same but has some differences that make ECC is superior compared to the RSA algorithm, so that the ECC algorithm can optimize cryptocurrency security in the transaction process. The purpose of this study is to simulate the bitcoin transactions using cryptography algorithms. This study uses the ECC algorithm as the algorithm ECDH and ECDSA key exchange as the algorithm for signing and verifying. The comparison results of ECC and RSA processing time is 1:25, so the ECC is more efficient. The total processing time of ECC is 0,006 seconds and RSA is 0,152 seconds. The researcher succeeded to implement the ECC algorithm as securing algorithms in mining process of 3 scenarios, normal, failed, and fake bitcoin transactions.