TY - GEN
T1 - RingCT 3.0 for Blockchain Confidential Transaction: Shorter Size and Stronger Security
AU - Yuen, Tsz Hon
AU - Sun, Shi Feng
AU - Liu, Joseph K.
AU - Au, Man Ho
AU - Esgin, Muhammed F.
AU - Zhang, Qingzhao
AU - Gu, Dawu
N1 - Publisher Copyright:
© 2020, International Financial Cryptography Association.
PY - 2020
Y1 - 2020
N2 - In this paper, we propose the most efficient blockchain ring confidential transaction protocol (RingCT3.0) for protecting the privacy of the sender’s identity, the recipient’s identity and the confidentiality of the transaction amount. For a typical 2-input transaction with a ring size of 1024, the ring signature size of our RingCT3.0 protocol is 98% less than the ring signature size of the original RingCT1.0 protocol used in Monero. Taking the advantage of our compact RingCT3.0 transcript size, privacy-preserving cryptocurrencies can enjoy a much lower transaction fee which will have a significant impact on the crypto-economy. In addition to the significant improvement in terms of efficiency, our scheme is proven secure in a stronger security model. We remove the trusted setup assumption used in RingCT2.0. Our scheme is anonymous against non-signing users who are included in the ring, while we show that the RingCT1.0 is not secure in this improved model. Our implementation result shows that our protocol outperforms existing solutions, in terms of efficiency and security.
AB - In this paper, we propose the most efficient blockchain ring confidential transaction protocol (RingCT3.0) for protecting the privacy of the sender’s identity, the recipient’s identity and the confidentiality of the transaction amount. For a typical 2-input transaction with a ring size of 1024, the ring signature size of our RingCT3.0 protocol is 98% less than the ring signature size of the original RingCT1.0 protocol used in Monero. Taking the advantage of our compact RingCT3.0 transcript size, privacy-preserving cryptocurrencies can enjoy a much lower transaction fee which will have a significant impact on the crypto-economy. In addition to the significant improvement in terms of efficiency, our scheme is proven secure in a stronger security model. We remove the trusted setup assumption used in RingCT2.0. Our scheme is anonymous against non-signing users who are included in the ring, while we show that the RingCT1.0 is not secure in this improved model. Our implementation result shows that our protocol outperforms existing solutions, in terms of efficiency and security.
UR - http://www.scopus.com/inward/record.url?scp=85089235216&partnerID=8YFLogxK
U2 - 10.1007/978-3-030-51280-4_25
DO - 10.1007/978-3-030-51280-4_25
M3 - Conference article published in proceeding or book
AN - SCOPUS:85089235216
SN - 9783030512798
T3 - Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)
SP - 464
EP - 483
BT - Financial Cryptography and Data Security - 24th International Conference, FC 2020, Revised Selected Papers
A2 - Bonneau, Joseph
A2 - Heninger, Nadia
PB - Springer
T2 - 24th International Conference on Financial Cryptography and Data Security, FC 2020
Y2 - 10 February 2020 through 14 February 2020
ER -