What Is Elliptic Curve Cryptography (ECC)?
Elliptic Curve Cryptography (ECC) is a public-key encryption method that uses elliptic curves' properties over finite fields. In the context of Bitcoin, it ensures transaction security with smaller yet highly secure keys. Specifically, Bitcoin employs the secp256k1 elliptic curve. When generating a Bitcoin public key, a user's private key is multiplied by a predefined point on this curve. Given the mathematical properties of ECC, deducing the private key from the public key becomes computationally challenging, safeguarding the user's information. This technique conserves data on the blockchain and maintains robust security levels.