Presentation is loading. Please wait.

Presentation is loading. Please wait.

Addresses Campbell R. Harvey Duke University, NBER and

Published byΔημοσθένης Μαυρίδης Modified over 6 years ago

Similar presentations

Presentation on theme: "Addresses Campbell R. Harvey Duke University, NBER and"— Presentation transcript:

1 Addresses Campbell R. Harvey Duke University, NBER and
January 21, 2017 Addresses Campbell R. Harvey Duke University, NBER and Investment Strategy Advisor, Man Group, plc

2 Addresses Bitcoin uses Elliptic Curve Digital Signature Algorithm* (ECDSA) for signing transactions. I have additional material on EC encryption in a handout called Cryptography 101. Here are the steps. We first start with the ECDSA generating a private and public key. This is the key pair. You can sign transactions with the private key Anyone with your public key can verify the signature is valid The bitcoin address is linked to these keys Specifically, ECDSA sec256k1. See Campbell R. Harvey 2017

3 Addresses Bitcoin addresses are like random numbers
If two people have the same address, this is called a collision Given the current implementation, the probability of collision is miniscule Campbell R. Harvey 2017

4 Addresses 1. Start with private ECDSA key
2. Take public key generated with it* 3. Perform SHA-256 on public key 18E14A7B6A307F426A94F E7C8E774E7F9A47E2C2035DB29A AD64A87AE8A2FE83C1AF1A8403CB53F53E486D8511DAD8A04887E5B23522CD A299FA9E ABC11A1DF38855ED6F2EE187E9C582BA6 600FFE422B4E00731A59557A5CCA46CC A447BDB2D98D4B408 Campbell R. Harvey 2017 *65 bytes, 1 byte 0x04, 32 bytes corresponding to x-coordinate; 32 bytes for y coordinate

5 Addresses 4. Perform RIPEMD-160 hash on the result of SHA-256
5. Add version number byte in front of RIPEMD-160 D E5E39F86A0D273BEE D E5E39F86A0D273BEE 6. Perform SHA-256 on extended RIPEMD-160 445C7A8007A93D BB320A8FE2DEBD2AE1B47F0F50BC10BAE845C094 Campbell R. Harvey 2017

6 Addresses 7. Perform SHA-256 on the previous SHA-256
8. Take first 4 bytes of 2nd SHA-256 (address checksum) 9. Add 4 checksum bytes to extended RIPEMD-160 in stage 5 (25 byte bitcoin address) D61967F63C7DD183914A4AE452C9F6AD5D462CE3D B107615C1A8A30 D61967F6 D E5E39F86A0D273BEED61967F6 Campbell R. Harvey 2017

7 Addresses 16UwLL9Risc3QfPqBUvKofHmBQ7wMtjvM
10. Convert to base58 (upper and lower case letters, numbers, excluding 0,O,I,l) Voilà. The bitcoin address. 16UwLL9Risc3QfPqBUvKofHmBQ7wMtjvM Campbell R. Harvey 2017

8 Addresses Campbell R. Harvey 2017

9 Addresses Campbell R. Harvey 2017

10 Additional resources Generate a private key and address: Campbell R. Harvey 2017

Download ppt "Addresses Campbell R. Harvey Duke University, NBER and"

Similar presentations

Public Key Infrastructure and Applications

Public Key Infrastructure and Applications
Cryptography1 CPSC 3730 Cryptography Chapter 13 Digital Signature Standard (DSS)

Cryptography1 CPSC 3730 Cryptography Chapter 13 Digital Signature Standard (DSS)
Chapter 8.  Cryptography is the science of keeping information secure in terms of confidentiality and integrity.  Cryptography is also referred to as.

Chapter 8.  Cryptography is the science of keeping information secure in terms of confidentiality and integrity.  Cryptography is also referred to as.
Cryptography 101 Frank Hecker

Cryptography 101 Frank Hecker
Strong Cryptographic Infrastructure and its Applications Dr Lucas Hui Center for Information Security & Cryptography Department of Computer Science & Information.

Strong Cryptographic Infrastructure and its Applications Dr Lucas Hui Center for Information Security & Cryptography Department of Computer Science & Information.
Bob can sign a message using a digital signature generation algorithm

Bob can sign a message using a digital signature generation algorithm
By Abhijith Chandrashekar and Dushyant Maheshwary.

By Abhijith Chandrashekar and Dushyant Maheshwary.
Digital Signatures: Mathematics Zdeněk Říha. Data authentication Data integrity + data origin Digital signature Asymmetric cryptography public and private.

Digital Signatures: Mathematics Zdeněk Říha. Data authentication Data integrity + data origin Digital signature Asymmetric cryptography public and private.
CS 627 Elliptic Curves and Cryptography Paper by: Aleksandar Jurisic, Alfred J. Menezes Published: January 1998 Presented by: Sagar Chivate.

CS 627 Elliptic Curves and Cryptography Paper by: Aleksandar Jurisic, Alfred J. Menezes Published: January 1998 Presented by: Sagar Chivate.
Asymmetric Key Signatures David Evans and Samee Zahur CS4501, Fall 2015.

Asymmetric Key Signatures David Evans and Samee Zahur CS4501, Fall 2015.
Digital Signatures A primer 1. Why public key cryptography? With secret key algorithms Number of key pairs to be generated is extremely large If there.

Digital Signatures A primer 1. Why public key cryptography? With secret key algorithms Number of key pairs to be generated is extremely large If there.
1 Bitcoin A Digital Currency. Functions of Money.

1 Bitcoin A Digital Currency. Functions of Money.
11-Basic Cryptography Dr. John P. Abraham Professor UTPA.

11-Basic Cryptography Dr. John P. Abraham Professor UTPA.
Confidentiality Confidentiality is maintained so long as private keys are secure. Authenticity is possible via public-key encryption by encrypting messages.

Confidentiality Confidentiality is maintained so long as private keys are secure. Authenticity is possible via public-key encryption by encrypting messages.
Elliptic Curve Cryptography

Elliptic Curve Cryptography
CS/COE 1501 Recitation Extended Euclidean Algorithm + Digital Signatures.

CS/COE 1501 Recitation Extended Euclidean Algorithm + Digital Signatures.
Network Security Celia Li Computer Science and Engineering York University.

Network Security Celia Li Computer Science and Engineering York University.
Section #9: Bitcoins. Digital currency Unique string of bits Use cryptography for security and privacy Not tied to names: hard to trace Finite set of.

Section #9: Bitcoins. Digital currency Unique string of bits Use cryptography for security and privacy Not tied to names: hard to trace Finite set of.
Bitcoin: A Peer-to-Peer Electronic Cash System Satoshi Nakamoto 1.

Bitcoin: A Peer-to-Peer Electronic Cash System Satoshi Nakamoto 1.
Elliptic Curve Public Key Cryptography Why ? ● ECC offers greater security for a given key size. ● The smaller key size also makes possible much more compact.

Elliptic Curve Public Key Cryptography Why ? ● ECC offers greater security for a given key size. ● The smaller key size also makes possible much more compact.

Similar presentations

Ads by Google