Difference between ECDSA with ED25519 and Their Future

Abstract

It is always a trendy topic about virtual currency nowadays in the world. These virtual currencies like Bitcoin and Monero are precious and cryptic, which play a more critical role in the economy since no departments or governments control their transactions and deals. How could the transaction system provide users with security and protect their property? What's more, one of the most important characteristics is that all the transactions are untraceable, which means that the governments and the users cannot figure out the identity of another user. This paper discusses some principles of Bitcoin and Monero. For instance, some encryption algorithms like ECDSA and ED25519 are applied to help users to verify the whole transaction, and Ring signature is used in Monero to conceal the user's identity. Meanwhile, this article will also compare some encryption algorithms' security and efficiency. Moreover, there would be a discussion about some advanced communication technologies. For example, there would be a brief introduction to quantum communication and entanglement. Then, it would also have an intense debate about the future of ECDSA and ED25519 if quantum communication and quantum entanglement were invented.