A Regulatable Blockchain Transaction Model with Privacy Protection

Authors

Zhiyuan Xue¹, Miao Wang², Qiuyue Zhang³, Yunfeng Zhang^{2, 4}, Peide Liu^{3, *,}

¹School of Software, Shandong University, Jinan, 250101, China

²School of Computer Science and Technology, Shandong University of Finance and Economics, Jinan, 250014, China

³School of Management Science and Engineering, Shandong University of Finance and Economics, Jinan, 250014, China

⁴Shandong Key Laboratory of Blockchain Finance, Shandong University of Finance and Economics, Jinan, 250014, China

^*Corresponding author. Email: peide.liu@gmail.com

DOI

10.2991/ijcis.d.210528.001How to use a DOI?

Keywords

Blockchain; Privacy protection; Supervision; Encryption

Abstract

Blockchain is a decentralized distributed ledger technology. The public chain represented by Bitcoin and Ethereum only realizes the limited anonymity of user identity, and the transaction amount is open to the whole network, resulting in user privacy leakage. Based on the existing anonymous technology, the concealment of the sender, receiver, amount of the transaction, and does not disclose any information, which makes the supervision difficult. Therefore, the design of blockchain scheme with privacy protection and supervision functions is of great significance. In this paper, a blockchain transaction model with both privacy and supervision function is proposed. It uses probability encryption to realize the hiding of the true identity of the blockchain transaction, and uses the commitment scheme and zero-knowledge proof technology to realize the privacy protection and guarantee legitimacy verification of the transaction. With the use of encryption technology, the regulators can supervise blockchain transactions without storing the users' information, which greatly reduces the pressure on storage, computing and key management. In addition, it does not rely on specific consensus mechanism and can be used as an independent module. The security performance analysis shows that the proposed scheme has great practicability and has potential application in many fields.

Copyright

© 2021 The Authors. Published by Atlantis Press B.V.

Open Access

This is an open access article distributed under the CC BY-NC 4.0 license (http://creativecommons.org/licenses/by-nc/4.0/).

Download article (PDF)
View full text (HTML)

TY  - JOUR
AU  - Zhiyuan Xue
AU  - Miao Wang
AU  - Qiuyue Zhang
AU  - Yunfeng Zhang
AU  - Peide Liu
PY  - 2021
DA  - 2021/06/07
TI  - A Regulatable Blockchain Transaction Model with Privacy Protection
JO  - International Journal of Computational Intelligence Systems
SP  - 1642
EP  - 1652
VL  - 14
IS  - 1
SN  - 1875-6883
UR  - https://doi.org/10.2991/ijcis.d.210528.001
DO  - 10.2991/ijcis.d.210528.001
ID  - Xue2021
ER  -