Title: Blockchain with ring signature for enhancing privacy and security

Authors: Ramya Rajamanickam; Saumya Chaturvedi

Addresses: National Informatics Centre, Lodhi Road, New Delhi, 110003, India ' CSE (AI&ML), Greater Noida Institute of Technology, Greater Noida, Uttar Pradesh, 201310, India

Abstract: Blockchain technology has the potential to bring about a technological revolution in the rapidly evolving digital world by offering a decentralised, distributed, and immutable ledger that can be verified and made accessible electronically over a network. However, blockchains are constrained by disparate problems, including security and privacy. Current blockchain approaches are quite unattainable to survive the privacy difficulties, despite many attempts to devise and combine new privacy solutions. Here we discuss the possibility of using a ring signature with blockchain. The unlinkability and anonymity of ring signatures can be used to preserve blockchain security and privacy. Further, we discuss a real-time implementation that is studied and evaluated with the ring signature model to facilitate user signing by preserving privacy and maintaining anonymity, revealing better efficiency and effectiveness. The findings demonstrate how our method is better and more successful in handling issues with trust and intermediaries in an environment of digital transactions.

Keywords: blockchain; privacy issues; ring signature; anonymity; privacy; unlinkability; anonymity; secure blockchain; security; blockchain heist.

DOI: 10.1504/IJBC.2024.142273

International Journal of Blockchains and Cryptocurrencies, 2024 Vol.5 No.2, pp.100 - 117

Received: 08 May 2024
Accepted: 16 Aug 2024

Published online: 16 Oct 2024 *

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