Elliptic Curve Cryptography

Keeping your data safe during storage and transfer from one device to another is essential.

There are several measures in place to keep your digital assets secure.

One proven way to ensure your data is secure during storage and transfer is cryptography.

In cryptography, you can encrypt and decrypt your file using special keys.

A superior technique in cryptography is the elliptic curve cryptography.

With elliptic curve cryptography, it will replace your file with a smaller key size and ensure faster transmission.

Blockchain apps such as Bitcoin use a type of ECC called the Elliptic Curve Digital Signature Algorithm (ECDSA) for signing transactions.

The exchange and transfer of information over the internet have become the order of the day. The security of this information becomes the priority of all, and this is where the need for cryptography arises.

Cryptography involves the security of messages that you intend to store or transfer, and it also consists of the encryption and decryption of messages.

When you encrypt and decrypt messages, you make them unreadable and inaccessible to unauthorized users.

Encryption means converting a text in its natural language into ciphertext using an algorithm.

You can use several techniques to encrypt data and information over the internet. One of them is the Elliptic curve cryptography.

What Is Elliptic Curve Cryptography?

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Elliptic curve cryptography (ECC) is a key-based technique for security data. ECC uses public and private keys to encrypt and decrypt web traffic.

Over the years, ECC has distinguished itself as a powerful cryptography approach.

When you use elliptic curve cryptography to secure your web traffic, it will generate the security key between crucial pairs (public and private) by using the mathematics of elliptic curves.

The advantage that ECC has over other cryptography techniques is its smaller key size and high level of security/ confidentiality.

The Elliptic curve cryptography approach to public keys is based on algebraically structured elliptic curves over finite fields.

This structure shows that ECC generates very difficult and mathematically intense keys to crack.

Due to its highest performance and security, more websites and applications continue to use the elliptic curve cryptography.

Blockchain platforms such as Bitcoin and Ethereum use the Elliptic Curve Digital Signature Algorithm (ECDSA) for signing transactions.

A plane curve depicts the elliptic curve for the current ECC purpose over a finite field consisting of the points satisfying this equation "y²=x³ + ax + b."

Using this ECC equation, any point on the curve can be mirrored over the x-axis, and the curve will stay the same. Likewise, a non-vertical line will intersect the curve in three places or fewer.

Aside from encryption, some other functions of the elliptic curve function include key distribution and digital signature algorithm.

You can use the digital signature algorithm of ECC to authenticate the signer and validate the integrity of the message. This digital signature algorithm is adaptable in cryptocurrency.

Having identified the meaning of Elliptic curve cryptography, let us dive into how cryptography works and the benefits of using the technology.

How The Elliptic Curve Cryptography Works In Cryptocurrency

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The elliptic curve cryptography has the implementation technique for digital signatures in cryptocurrency. This implementation technique is called Elliptic Curve Digital Signature Algorithm (ECDSA).

The Elliptic Curve Digital Signature Algorithm (ECDSA) became standardized in 2005 compared to its close substitute, Rivest–Shamir–Adleman (RSA), standardized in 1995.

Blockchain applications such as Bitcoin and Ethereum apply the Elliptic Curve Digital Signature Algorithm (ECDSA) in signing transactions due to its efficiency.

The ECDSA uses ECC keys to ensure every user ( the signer and validator) in a transaction is unique and ensures that the transaction is secure.

You can use the ECDSA to generate certificates in an electronic format.

This certificate will contain information about the encryption key, the owner of the certificate, information about the certificate owner, and the signature of the certificate's issuer.

The issuer of the ECDSA certificate is a verified trusted entity, and at any time, you can trace back the certificate to the issuer through the chain of trusts. The issuer is called a certificate authority.

Furthermore, due to the lightweight nature of ECC, Bitcoin uses Elliptic curve cryptography as its asymmetric cryptosystem.

Benefits Of ECC

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Stronger Compared To Other Keys
Elliptic curve cryptography stands out among other encryption keys due to its robust capabilities. ECC is more potent than its close substitute, RSA.

For instance, an ECC key size of 256 bits is equivalent to a 3072-bit RSA key. An ECC key size is 10,000 times stronger than an equivalent RSA key size.

Strengthens The Weakness Of Other Encryption Keys
The significant weaknesses that users discover in using RSA and DSA are well taken care of in ECC.

The developers of ECC are always out to identify the weaknesses that characterize the substitute keys and strengthen those areas in ECC.

These weaknesses are the significant reasons for unauthorized access and breach in data security, and the defects could also be the size and capacity to function.

Faster Transmission
The Elliptic curve cryptography is faster than all cryptography platforms. The reasons for ECC being fast include;

ECC uses more minor keys, which means fewer data will be transmitted from the server to the client during an SSL handshake.

Another reason for being fast is that ECC requires less processing power. The CPU and memory unit consumes less power during data transmission, resulting in a quicker response.

Conclusion

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Elliptic curve cryptography (ECC) is an improvement and advancement in the cryptography used in SSL. It is no doubt that ECC ranks high compared with other cryptography protocols.

The benefits of using ECC are enormous, and they include security improvement, increase in strength, and performance.

However, not all browsers and patents support the ECC certificate. Some of these browsers still use the age-long RSA and DSA crypto.



Author: Valentine A., Gate.io Researcher
This article represents only the researcher's views and does not constitute any investment suggestions.
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