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secp256k1

Bitcoin, Ethereum, and many other blockchains use ECDSA with the secp256k1 curve for signing transactions.

Creating a private key from seed

LTO libraries use BIP39 with the English word list to create a seed phrase for the secp256k1 key type. BIP32 is used to generate the binary seed from the seed phrase.

Signing

  • Created private key using the account seed 93d...S1v.
  • Create the corresponding coordinates for the public key and compress the public key.

Encryption

Encryption is done using ECIES Hybrid Encryption Scheme, which combines ECDSA with AES. It uses the same keys for encryption and signing.