Validation Technique for Zero-Knowledge-Based Transactions of Blockchain Digital Assets Using ASCII Computation Technique

초록

The transparency of Blockchain technology causes privacy concerns because every transaction must be made public and verified by anyone. This makes the financial world reluctant to adopt Blockchain technology, hindering its proliferation. This paper study proposes a zero-knowledge-based transaction verification technique to ensure that privacy and encryption are maintained for Blockchain transactions. The proposed model uses hash-algorithms and American Standard Code for Information (ASCII) calculation techniques to encrypt personal assets or transfer details. This technology allows anyone to check the validity of a transaction while concealing details such as the transferred amount, total assets, sender, and recipients. This overcomes the disadvantage of having a small number of verifies with the authority to verify the transaction, which stratifies the authority and reduces the reliability of verification. Our technique encrypts users’ assets to effectively conceal the exact amount, authorizes every user for verifying transactions, and allows anyone to check if the sender has adequate funds for the transaction. A simplified algorithm ensures the clearness clarity of the verification and reduces the operation time. The feasibility of the technique is verified theoretically and experimentally based on zero-knowledge-proof technology. Experiments confirm that this approach enhances privacy protection. © 2022, The Author(s), under exclusive license to Springer Nature Switzerland AG.

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