secp256k1 · GitHub Topics · GitHub

MaxCoin Specifications. Important

Quick Technicals
Cryptography Tech Spec
MaxCoin uses the Keccak (SHA-3) hashing algorithm for its Proof-of-Work. Keccak was selected as an alternative to the NSA designed SHA256 after a 5-year long competition held by the NIST and will be seen increasingly as the algorithm used in banking and other secure applications. A single round of Keccak is used, resulting in a 256 bit hash.
We have also implemented a provably-secure signing algorithm, EC-Schnorr. Every existing cryptocurrency uses the ECDSA algorithm, as chosen by Satoshi; whilst ECDSA is in common use and is secure, EC-Schnorr is provably more secure and is currently being recommended over it ( Additionally, MaxCoin changes the elliptic curve utilised within the signing algorithms from a Koblitz curve, secp256k1, to a more secure psuedo-random one, secp256r1. The use of the latter curve is recommended almost universally - and the decision by Satoshi to use the former is one that is often queried in the Bitcoin world. One theory is that there are some speed advantages to using the Koblitz curve, but, the implementation used in Bitcoin (OpenSSL) does not make use of this optimisation and, thus, the result is reduced-security.
The cryptography choices within MaxCoin have been made to maximise security and, where possible, to minimise NSA influence. We have been advised throughout by the renowed cryptography expert Professor Nigel Smart (
These changes also lay the foundation for some key features we're aiming to implement in MaxCoin over the coming months, so while they may currently appear uninteresting changes they pave the way for our future growth.
What do you mean by "Starting Algorithm"?
This is an issue of hardware miner resistance, such as ASICs. Keccak is the starting algorithm for MaxCoin and at this point in time no hardware miner currently exists. However, creating a Keccak ASIC is not impossible. Therefore, in order to protect against a hardware-miner future we are going to implement an "ASIC protection" feature into MaxCoin. This will work by allowing the blockchain to decide a new hashing algorithm for MaxCoin every x blocks. More specifically, the last authenticated transaction's hash is used to determine an integer and depending on this value an algorithm will be selected. This will mean hardware miners will find it difficult to create hardware in enough time to see profitable return. Purely for example, these could be:
x Algorithm 0 Keccak 1 Blake 2 Grostlx2 3 JH 4 Skein 5 Blake2 6 JH(Grostl) 7 Keccak+Blake
Difficulty & Distribution
MaxCoin will have a zero % premine, proven by the timestamps of the first blocks in a block explorer, and we have attempted to combat low-difficulty instamining with a fast retarget rate up until block 200. At block 200 the Kimoto Gravity Well implementation will take over the retargeting.
Mining is done via CPU at release (mining guides about to be released also on this subreddit), but a GPU miner will not be far away. We've seen some versions in the works already after we released CPUminer yesterday, and while we have not yet seen a working version, this is very unlikely to take long. We'll update all official channels with Keccak GPU miner once it is available. It's also worth noting that any GPU miner created will not work after the first algorithm switch takes place.
submitted by maxcoinproject to maxcoinproject [link] [comments]

Introduction to Bitcoin with Yours Bitcoin, Lecture 3: Elliptic Curves Elliptic Curve Digital Signature Algorithm (ECDSA) - Public Key Cryptography w/ JAVA (tutorial 10) Schnorr - YouTube Bitcoin News (Morning Briefs) - YouTube Elliptische Kurven der Kryptografie. Die Secp256k1 des Bitcoins

crystal bitcoin ethereum checksum byte ecdsa ecdh ec compressed crystal-language secp256k1 ethereum-addresses native-library bitcoin-addresses Updated Apr 11, 2020 Crystal SECP256K1-CL. SECP256K1-CL is a fork of sipa's (Pieter Wuille) optimized ECDSA library for Bitcoin. The original SECP256K1 is the fastest crypto library working on Bitcoin's curve. On my computer (i7 3770K), it is able to verify a signature in 0.08 ms. Secp256k1 refers to ECDSA parameters of the curve used in Bitcoin and is defined in Standards for Efficiency Cryptography (SEC) [6]. Secp256k1 has almost never been used before Bitcoin became popular, This page describes the behavior of the reference client.The Bitcoin protocol is specified by the behavior of the reference client, not by this page. In particular, while this page is quite complete in describing the network protocol, it does not attempt to list all of the rules for block or transaction validity.. Type names used in this documentation are from the C99 standard. No, Bitcoin does not use encryption. It is called cryptocurrencybecause its digital signature algorithm uses the samemathematical techniques that are used for a type of encryption based on elliptic curves . (In particular Bitcoin uses the ECDSA algorithm with elliptic curve secp256k1 .)

[index] [20817] [22198] [8383] [29245] [27076] [19084] [16490] [3011] [24816] [17204]

Introduction to Bitcoin with Yours Bitcoin, Lecture 3: Elliptic Curves

If you've been wondering about the secp256k1 (arguably the most important piece of code in Bitcoin), well then this is the video for you. This is part 4 of our upcoming series on Elliptic Curves. Elliptic Curve Digital Signature Algorithm ECDSA Part 10 Cryptography Crashcourse - Duration: 35:32. Dr. Julian Hosp - Bitcoin, Aktien, Gold und Co. 6,709 views 3rd BIU Winter School on Cryptography: The basics of elliptic curves - Nigel Smart - Duration: 1:20:28. Bar-Ilan University - אוניברסיטת בר-אילן 6,028 views Bitcoin has traditionally used ECDSA signatures over the secp256k1 curve for authenticating transactions. These are standardized, but have a number of downsi... According to an early Bitcoin ( BTC ) developer, Satoshi Nakamoto sought help from outside cryptographers prior to launching Bitcoin. Laszlo Hanyecz, who worked closely with Satsohi in 2010 , told ...

Flag Counter