Ethereum key generation

Steps of key generation in ethereum

1. The private key is a 256 bit binary string generated randomly in ethereum with a generator of sufficiently high entropy.
2. Elliptic curve encryption is applied using scep256k1 curve to get public key from private key.
3. The public key is hashed using keccak-256 hashing algorithm and the last 40 characters appended with a ‘0x’ becomes the wallet address.
4. When a message (or a transaction) is entered, it is first hashed with keccak-256 and then signed with the private key generated at first step. This produces three parts v, r, s which are used while verifying the signature.
5. At verification step, the public key is used with the parameters to verify that the signature produced was correct.