Zerocash: Decentralized Anonymous Payments from Bitcoin
Zerocash presents a protocol for decentralized anonymous transactions on top of a base ledger like Bitcoin. It utilizes zk-SNARKs (Zero-Knowledge Succinct Non-IAbstract
Zerocash presents a protocol for decentralized anonymous transactions on top of a base ledger like Bitcoin. It utilizes zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Arguments of Knowledge) to allow users to hide the origin, destination, and amount of transactions while maintaining the integrity of the ledger and preventing double-spending. The research demonstrates how to construct a privacy-preserving payment system that is both secure and auditable without trusted third parties. This protocol significantly advanced blockchain privacy, serving as the technical basis for the Zcash network. The paper effectively bridges high-level cryptographic theory with practical implementation for real-world financial privacy. Authors: Eli Ben-Sasson, Alessandro Chiesa, Christina Garman, Matthew Green, Ian Miers, Eran Tromer, Madars Virza Publication: IACR ePrint Archive Publication date: 2014-01-01Key findings
- Introduced zk-SNARKs for private and anonymous ledger transactions.
- Provided a scalable solution for hidden transaction amounts and addresses.
- Prevented double-spending in an anonymous setting without a central authority.
- Demonstrated a practical application of zero-knowledge proofs for finance.
Citation
Eli Ben-Sasson, Alessandro Chiesa, Christina Garman, Matthew Green, Ian Miers, Eran Tromer, Madars Virza (2014). Zerocash: Decentralized Anonymous Payments from Bitcoin. IACR ePrint Archive. https://eprint.iacr.org/2014/349Related knowledge
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Canonical knowledge ID:
research:zerocash-decentralized-anonymous-payments-from-bitcoin