Comparative Analysis of Classical and Post-quantum Digital Signature Algorithms used in Bitcoin Transactions
| Title | Comparative Analysis of Classical and Post-quantum Digital Signature Algorithms used in Bitcoin Transactions |
| Publication Type | Conference Paper |
| Year of Publication | 2020 |
| Authors | Noel, M. D., Waziri, O. V., Abdulhamid, M. S., Ojeniyi, A. J., Okoro, M. U. |
| Conference Name | 2020 2nd International Conference on Computer and Information Sciences (ICCIS) |
| Date Published | oct |
| Keywords | bitcoin, bitcoin transaction security, Bitcoin transactions, classical algorithms, Comparative Analysis, Computer crime, Computers, creating digital signatures, cryptocurrencies, cryptocurrency, cryptographic protocols, cryptographic systems security, cryptography, current day algorithms, digital signatures, ECDSA key generation, Elliptic curves, Encryption, Hash-based Signature Schemes, hash-based signatures, MSS Key generation, Post-quantum cryptography, post-quantum digital Signature algorithms, pubcrawl, public key cryptography, public key cryptosystems, Resiliency, RSA key generation, Scalability, security, Signature Generation, signature verification, time 0.001 s, time 0.002 s, time 0.004 s, time 0.0164 s, time 0.0187 s, time 0.0778 s, time 0.1378 s, time 0.2012 s, time 13.494 s, time 16.29 s, time 17.474 s, time 2.0E-4 s, verification time, W-OTS key generation |
| Abstract | The use of public key cryptosystems ranges from securely encrypting bitcoin transactions and creating digital signatures for non-repudiation. The cryptographic systems security of public key depends on the complexity in solving mathematical problems. Quantum computers pose a threat to the current day algorithms used. This research presents analysis of two Hash-based Signature Schemes (MSS and W-OTS) and provides a comparative analysis of them. The comparisons are based on their efficiency as regards to their key generation, signature generation and verification time. These algorithms are compared with two classical algorithms (RSA and ECDSA) used in bitcoin transaction security. The results as shown in table II indicates that RSA key generation takes 0.2012s, signature generation takes 0.0778s and signature verification is 0.0040s. ECDSA key generation is 0.1378s, signature generation takes 0.0187s, and verification time for the signature is 0.0164s. The W-OTS key generation is 0.002s. To generate a signature in W-OTS, it takes 0.001s and verification time for the signature is 0.0002s. Lastly MSS Key generation, signature generation and verification has high values which are 16.290s, 17.474s, and 13.494s respectively. Based on the results, W-OTS is recommended for bitcoin transaction security because of its efficiency and ability to resist quantum computer attacks on the bitcoin network. |
| DOI | 10.1109/ICCIS49240.2020.9257656 |
| Citation Key | noel_comparative_2020 |
- time 0.0164 s
- pubcrawl
- public key cryptography
- public key cryptosystems
- Resiliency
- RSA key generation
- Scalability
- Signature Generation
- signature verification
- time 0.001 s
- time 0.002 s
- time 0.004 s
- post-quantum digital Signature algorithms
- time 0.0187 s
- time 0.0778 s
- time 0.1378 s
- time 0.2012 s
- time 13.494 s
- time 16.29 s
- time 17.474 s
- time 2.0E-4 s
- verification time
- W-OTS key generation
- cryptographic systems security
- security
- bitcoin transaction security
- Bitcoin transactions
- classical algorithms
- Comparative Analysis
- Computer crime
- Computers
- creating digital signatures
- cryptocurrencies
- cryptocurrency
- Cryptographic Protocols
- bitcoin
- Cryptography
- current day algorithms
- digital signatures
- ECDSA key generation
- Elliptic curves
- encryption
- Hash-based Signature Schemes
- hash-based signatures
- MSS Key generation
- Post-quantum cryptography