This paper presents an improved method inspired by the recently proposed Pretty‐Simple PAKE (Password Authenticated Key‐Exchange) protocol, which is already a well‐known, robust and simple password authenticated key exchange scheme. In our even more efficient scheme, only the password needs to be negotiated in advance, and the computations have also been simplified. Our scheme is based on the elliptic curve discrete logarithm problem and can gain the benefit from the key block size, speed and security. Since our new scheme is both efficient and fast with a low cost for device storage, it is especially suitable for the wireless network environment.