An efficient multi-signature wallet in blockchain using bloom filter

Abstract

A blockchain wallet is a financial application which provides an interface for managing a digital asset. In the blockchain wallet, a digital signature (single or multiple signatures) is used to sign a transaction. However, the wallet is often vulnerable to security attacks when a single-signature scheme is used, and there are performance issues when a multi-signature scheme is employed. To address these issues, we propose a new efficient multi-signature wallet that improves performance, storage efficiency, and privacy without modifying the blockchain protocol. The steps in the development of the wallet are as follows, we first design a blockchain wallet that supports multi-signature as a single-signature by using a threshold elliptic curve digital signature algorithm (T-ECDSA) for high validation performance. Second, for achieving high storage efficiency and privacy, we use a bloom-filter for transactions for ensuring a small transaction size and identifying the participant of a transactions without exposing participant information. Experimental results indicate that the proposed multi-signature wallet shows higher verification performance in a blockchain, with a small transaction size compared with existing wallets. © 2021 ACM.