Paper 2023/1156

Instant Zero Knowledge Proof of Reserve

Xiang Fu, Hofstra University
Abstract

We present two zero knowledge protocols that allow one to assert solvency of a financial organization instantly with high throughput. The scheme is enabled by the recent breakthrough in lookup argument, i.e., after a pre-processing step, the prover cost can be independent of the lookup table size for subsequent queries. We extend the cq protocol [EFG22] and develop an aggregated non-membership proof for zero knowledge sets. Based on it, we design two instant proof-of-reserve protocols. One is non- intrusive, which works for crypto-currencies such as BTC where transaction details are public. It has O(n log(n)) prover complexity and O(1) proof size/verifier complexity, where n is the number of transactions assembled in a cycle. The other works for privacy preserving platforms where the blockchain has no knowledge of transaction details. By sacrificing non-intrusiveness, the second protocol achieves O(1) complexity for both the prover and verifier.

Metadata
Available format(s)
PDF
Category
Cryptographic protocols
Publication info
Preprint.
Keywords
Proof of ReserveProof of AssetSolvencyLookup ArgumentZero KnowledgeAggregated Non-Membership ProofZero Knowledge Set Disjoint Proof
Contact author(s)
Xiang Fu @ hofstra edu
History
2023-07-27: approved
2023-07-26: received
See all versions
Short URL
https://ia.cr/2023/1156
License
Creative Commons Attribution-NonCommercial
CC BY-NC

BibTeX

@misc{cryptoeprint:2023/1156,
      author = {Xiang Fu},
      title = {Instant Zero Knowledge Proof of Reserve},
      howpublished = {Cryptology ePrint Archive, Paper 2023/1156},
      year = {2023},
      note = {\url{https://eprint.iacr.org/2023/1156}},
      url = {https://eprint.iacr.org/2023/1156}
}
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