Revolutionizing Security: A Dynamic Threshold Signature Scheme with Improved ECDSA

Blockchain technology enables secure, transparent, and decentralized systems, ideal for financial applications. However, its transparency can lead to vulnerabilities and privacy concerns. A dynamic threshold signature scheme offers a solution for asset monitoring within distributed systems. Bitcoin’s blockchain employs ECDSA, but its reliance on random k-values introduces weaknesses. To address this, we propose an improved ECDSA-based dynamic threshold signature scheme. We compare its performance and security against the original ECDSA-based scheme, finding minimal performance differences and a low probability of successful existential forgery attacks. This improved scheme offers a robust alternative for enhancing blockchain security.