Privacy-Enhanced Blockchain Recurring Transactions Using Zero-Knowledge Proofs

Blockchain technology has significantly transformed the landscape of financial transactions, offering unparalleled transparency and trust. However, the need for privacy in recurring transactions remains a critical challenge. This paper proposes an innovative approach to enhancing privacy in blockchain-based recurring transactions through the integration of Zero-Knowledge Proofs (ZKPs). We present a detailed architecture that combines the efficiency of smart contracts on the Ethereum blockchain with the confidentiality offered by ZKPs. Our implementation ensures that transaction details remain private while maintaining the integrity and non-repudiation inherent to blockchain technology. We evaluate the proposed solution in terms of performance, scalability, and security, demonstrating its potential to revolutionize privacy-preserving recurring payments in decentralized finance (DeFi) applications. This work addresses the privacy paradox in blockchain and sets the stage for future advancements in secure, automated financial systems.

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Publication Details

Published
2024-09-30
DOI
https://doi.org/10.1109/smartblock4africa61928.2024.10779550
Citations
4
Primary Topic
Blockchain Technology Applications and Security
Type
article
Field-Weighted Citation Impact
3.12
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article

Privacy-Enhanced Blockchain Recurring Transactions Using Zero-Knowledge Proofs

Răzvan Mihai, Omer Faruk Ozkul, Gora Datta, Constantin Viorel Marian et al.
4 citations
Blockchain Technology Applications and Security
3.12
article

Privacy-Enhanced Blockchain Recurring Transactions Using Zero-Knowledge Proofs

Răzvan Mihai, Omer Faruk Ozkul, Gora Datta, Constantin Viorel Marian, Nicolae Goga, Bogdan Mihai
article en
4 citations

Abstract

Blockchain technology has significantly transformed the landscape of financial transactions, offering unparalleled transparency and trust. However, the need for privacy in recurring transactions remains a critical challenge. This paper proposes an innovative approach to enhancing privacy in blockchain-based recurring transactions through the integration of Zero-Knowledge Proofs (ZKPs). We present a detailed architecture that combines the efficiency of smart contracts on the Ethereum blockchain with the confidentiality offered by ZKPs. Our implementation ensures that transaction details remain private while maintaining the integrity and non-repudiation inherent to blockchain technology. We evaluate the proposed solution in terms of performance, scalability, and security, demonstrating its potential to revolutionize privacy-preserving recurring payments in decentralized finance (DeFi) applications. This work addresses the privacy paradox in blockchain and sets the stage for future advancements in secure, automated financial systems.

University of Groningen (NL), Universitatea Națională de Știință și Tehnologie Politehnica București (RO), University of California, Berkeley (US)
Openalex Percentile: Top 7%
Blockchain Technology Applications and Security
3.12
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