Providing privacy in private transactions on a blockchain

Providing privacy in private transactions on a blockchain

Methods, systems, and apparatus: The document describes a method, system, and apparatus for implementing private transactions based on a blockchain, including a computer program encoded on a computer storage medium. These methods can be performed by a first blockchain node participating in a private transaction.

Implementation of private transactions: The method includes determining one or more second blockchain nodes participating in a private transaction based on a blockchain contract in a public blockchain, transmitting transaction information to these nodes, obtaining signatures from a certain number of second blockchain nodes proving receipt of the transaction information, and storing the representation and signature of the private transaction in the public blockchain after obtaining signatures exceeding a threshold value.

Transmission of transaction information: The transaction information includes one or more senders, one or more recipients, and one or more transaction amounts of the private transaction. The transaction information can be transmitted to the second blockchain node in an encrypted manner to ensure that only the recipient can decrypt and obtain the transaction information.

Acquisition and verification of signatures: The second blockchain node proves that the transaction information has been received by signing, and the signature can be obtained by encrypting the hash value of the transaction information using a private key associated with the second blockchain node.

Storage of public blockchain: When a sufficient number of valid signatures are obtained, the representation and signature of private transactions can be stored in the public blockchain to provide public notification and identify the occurrence of private transactions.

Security and privacy protection: The transaction information of private transactions is transmitted between the parties involved in the private transaction or their blockchain nodes, and is only visible to the corresponding nodes, thereby providing privacy protection. At the same time, the nodes of the public blockchain can verify the validity of private transactions to prevent double spending and other fraudulent behaviors.

Synchronization and notification: All blockchain nodes involved in private transactions will be notified and synchronized to the same state, ensuring that all nodes can execute private transactions.

In summary, this document provides a system and method for providing privacy and security protection in blockchain-based private transactions, verifying the validity of private transactions through nodes of the public blockchain while maintaining the privacy of transaction information.