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Proving the Ownership of Bitcoins in Transactions Using
Elliptic Curve Digital Signature Algorithm (ECDSA)
Anis Naquiyah Farhana Binti Mat Din
Supervisor: Dr. Hassilah Binti Salleh
Bachelor of Science (Financial Mathematics)
School of Informatics and Applied Mathematics
Bitcoin, a decentralised cryptocurrency system has gained a lot of attraction among users.
In Bitcoin transactions, users communicate based on cryptographic proof without
involving third parties. Therefore, Elliptic Curve Digital Signature Algorithm is used to
prove the ownership of Bitcoin which plays the main part in Bitcoin transaction. The
relationship between Bitcoin and ECDSA was studied to determine if this cryptographic
algorithm can ensure that funds can only be spent by their rightful owners. This paper
provide the steps of understanding how ECDSA works and how it is used to create a
Bitcoin transaction. ECDSA has separate procedures for signing and verification. The
signing process make use of private key while the verification process make use of public
key. The result shows that the signature is valid when the two points have the same
values. The results indicate that the users can verify its authenticity without compromising
its security.
791 | UMT UNDERGRADUATE RESEARCH DAY 2018