One of the world’s leading Critpo experts believes that Satoshi Nakamoto chose Bitcoin’s elliptic curve (BTC) either because of its efficiency or because it can offer a secret back door or back door.
The elliptic curve is worth millions
A public Bitcoin key is created by applying cryptos with elliptic curves to the private key. A public key can easily be created from the private key, but it is impossible to go in the opposite direction. Unless, of course, it is Bitcoin’s elliptic curve.
Many crypto experts have found that the choice of the ellpic bitcoin curve secp256k1 was unusual for its time, as it had not yet been well researched. Cointelegraph asked one of the leading experts in the field Tatsuaki Okamotoabout this strange choice. Okamoto is currently the director of the Cryptography Information Security Lab at NTT Research.
Efficiency or vulnerability?
According to Okamoto, there are two alternative explanations for this choice: O. Either Satoshi chose it because it is more efficient or because it may offer a secret back door. Of course, Okamoto emphasized that these are only two logical hypotheses since he cannot know what Satoshi was thinking at the time:
“(1) The Koblitz curve was specially developed for faster scalar multiplication. Therefore operations (signing, verifying and key generation) are faster in Secp256k1 than in Secp256r1. (2) Although this was announced The Secp256r1 curve was chosen at random. It may exist still suspect that a back door is secretly configured in the curve parameters. Conversely, the Koblitz curve parameters are determined mathematically and there is little chance that they will be created such a back door. “
Okamoto is impressed by the way the Bitcoin developer was able to combine different cryptographic techniques – such as hash chains, Merkle trees and elliptic curves – to create the world’s first decentralized currency:
“I think it’s a revolutionary invention, the first decentralized currency, and its core blockchain technology has a huge impact on our society.”
Bitcoin core developer agrees
Bitcoin core developer Vladimir van der Laan told Cointelegraph he didn’t know why Satoshi chose this particular curve. He also noted that someone who discovered a vulnerability did not announce it:
“I have no idea why Satoshi chose that particular curve, they haven’t provided any justification anywhere (although it seems like a pretty good choice in retrospect). Even though Secp256r1 has a vulnerability, no one has come out yet announce his discovery. On the other hand, saving this find could bring in a million dollar reward for itself. “