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The Best Explanation of Bitcoin's Security Ever OfferedCompare your banks security encryption to bitcoin's Here are the steps-- Create a signature: Hash the transaction to sign Select a random number Calculate the ECDSA curve point (x1, y1) by multiplying the random number by the elliptic curve base point (G) Calculate r and s using the private key, the ECDSA curve point, and ECDSA signing algorithm. The signature is the pair (r, s). Verify a signature: Hash the transaction that was signed Calculate u1 and u2 using the public key, the signature values r and s, and ECDSA verification algorithm Calculate the curve point (x1, y1) using u1, u2, and the public key If r is equivalent to x1 the signature is valid