What Is the Role of the ‘Secp256k1’ Curve in Bitcoin’s Signature Scheme?

secp256k1 is the specific elliptic curve used by Bitcoin for the Elliptic Curve Digital Signature Algorithm (ECDSA). It is crucial because it provides the mathematical foundation for generating public keys from private keys and for creating/verifying digital signatures.

The choice of this particular curve is notable because it is a Koblitz curve, which allows for faster computation than other standard curves, enhancing transaction processing speed.