MATHEMATICAL BASIS OF THE CRYPTO NETWORK

Authors

  • Valentyna Lystopadova National Technical University of Ukraine "Igor Sikorsky Kyiv Polytechnic Institute", Ukraine https://orcid.org/0000-0002-2549-8381
  • Diana Khalaim National Technical University of Ukraine "Igor Sikorsky Kyiv Polytechnic Institute", Ukraine

DOI:

https://doi.org/10.31110/2616-650X-vol11i3-002

Keywords:

cryptocurrency, bitcoin, elliptic curve, electronic money, private key, public key

Abstract

Human society cannot be imagined without monetary transactions. Money is a specific term that is universally equivalent to the value of services or goods. The history of the development of funds is closely related to the continuous development of human civilization. Products, goods, weapons, paper money, shares are just a part of what was used by man and continues to be in demand to this day.

The development of technology does not stand still. Therefore, the so-called "electronic funds", which are not issued by national central banks, are becoming increasingly relevant. Real money and coins are gradually receding into the background. They are being replaced by plastic cards and payment systems on the Internet.

Today there is an accelerated growth of cryptocurrency. It is a new payment system that has a number of advantages in contrast to other electronic money. Cryptocurrency is used by millions of people around the world. One of the reasons for this popularity is the rigorous mathematical basis on which Bitcoin is built.

Mathematics is the foundation of any blockchain-based platform. Instead of intermediaries, regulators, laws or leaders, these platforms rely on the undeniable logic of mathematical models to create an ecosystem that works for each user. Bitcoin is perhaps the clearest example of how these models can change the world. The generation of the coin depends entirely on the computing power of the laptop, which is used to solve mathematical problems.

In the presented article, the main emphasis is placed not only on the history of the appearance of bitcoin, but also on the mathematical apparatus of the cryptosystem.

The mathematical principles of the operation of cryptocurrencies are considered using the example of bitcoin, which today has the most widespread network.

The main tool of cryptography, which is basic in the development of bitcoin, is considered - elliptic curves.

Some of the main properties of these curves are given, as well as the principle of their application during the creation of cryptocurrency.

Mathematical formulas for calculating the public key from the private key are specified.

The main reasons for the use of elliptic curves, which are the basis of the operation of the cryptosystem, are highlighted.

References

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Published

2023-03-29

How to Cite

Lystopadova В., & Khalaim Д. (2023). MATHEMATICAL BASIS OF THE CRYPTO NETWORK. Education. Innovation. Practice, 11(3), 12–17. https://doi.org/10.31110/2616-650X-vol11i3-002

Issue

Vol. 11 No. 3 (2023)

Section

Статті

License

Copyright (c) 2023 Валентина Листопадова, Діана Халаїм

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