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A ZK-SNARK based Proof of Assets Protocol for Bitcoin Exchanges. (arXiv:2208.01263v1 [cs.CR])
Aug. 3, 2022, 1:20 a.m. | B Swaroopa Reddy
cs.CR updates on arXiv.org arxiv.org
This paper proposes a protocol for Proof of Assets of a bitcoin exchange
using the Zero-Knowledge Succinct Non-Interactive Argument of Knowledge
(ZK-SNARK) without revealing either the bitcoin addresses of the exchange or
balances associated with those addresses. The proof of assets is a mechanism to
prove the total value of bitcoins the exchange has authority to spend using its
private keys. We construct a privacy-preserving ZK-SNARK proof system to prove
the knowledge of the private keys corresponding to the bitcoin …
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