Simple and scalable blockchain with privacy


Chan, Wai Kok and Chin, Ji Jian and Goh, Vik Tor (2021) Simple and scalable blockchain with privacy. Journal of Information Security and Applications, 58. ISSN 2214-2126

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The three primary requirements in privacy coin are sender anonymity, receiver anonymity, and transaction amount obscurity. In the process of achieving these three requirements, it can result in some side-effects. Some of the side-effects include large blockchain sizes, unpruneable blockchain, unverifiable total coin mintage, and complicated protocol. In this paper, we propose a coin privacy solution that fulfills these three requirements without side-effects. Compared to other solutions, our solution has a bigger anonymity set, easier to understand, and comes with prunable blockchain. However, transactions involving fractionation amount are rounded up to the nearest available denomination. This rounding up is acceptable because it is a similar problem with cash that been used for centuries. Our protocol is an extension of bitcoin P2PKH and CoinJoin features. The CoinJoin is secured with a CoinJoinID, which cryptographical hard to reproduce. We also have proven the security of the pruning process. Other related issues are also described in this paper.

Item Type: Article
Uncontrolled Keywords: Cryptographic techniques
Subjects: T Technology > TK Electrical engineering. Electronics Nuclear engineering > TK5101-6720 Telecommunication. Including telegraphy, telephone, radio, radar, television
Divisions: Faculty of Computing and Informatics (FCI)
Faculty of Engineering (FOE)
Depositing User: Ms Nurul Iqtiani Ahmad
Date Deposited: 14 Mar 2021 00:03
Last Modified: 14 Mar 2021 00:07


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