A Blockchain Address Generation Method Based on the Improved SM9 Algorithm

In recent years, governments have regarded blockchain technology as a key breakthrough in independent innovation of core technologies and have attached great importance to its development. In current blockchain solutions, the elliptic curve digital signature algorithm (ECDSA) is usually combined with the Keccak Hash Algorithm 256-bit Variant (keccak256) to generate blockchain addresses. Although the ECDSA algorithm is based on the Public Key Infrastructure (PKI) system, which has prominent issues such as complex deployment processes, high operation and maintenance costs, low efficiency, and difficulties in adapting to a large number of users, it still holds an important position and has a broad application foundation in the field of cryptography. This paper aims to circumvent the existing flaws of the PKI system rather than discarding the strong and well-proven PKI system. Instead, it endeavors to explore the application of the Identity-Based Cryptography (IBC) system in blockchain and reduce dependence on foreign cryptographic algorithms. This study adopts the SM9 algorithm based on the IBC and combines it with the SM3 algorithm to generate blockchain addresses. Considering users’ use, this paper improves the original SM9 algorithm based on the original SM9 algorithm, enabling users to perform functions such as signing and encryption with just a single pair of public and private keys. Experimental results indicate that the time consumed by this proposed scheme in blockchain address generation is 1.29 times that of the existing schemes, and the length of the blockchain addresses generated is the same as that of the existing ones.