Blockchain-based multi-party proof of assets with privacy preservation

There are a number of requirements associated with cryptocurrency transactions, and one such requirement is to preserve the privacy in proof of assets for multiple parties. Specifically, multi-party proof of assets assures one that a large number of guarantors control sufficient assets that satisfy the lender's predefined value, for example in credit guarantee transactions. However, privacy-preserving multi-party proof of assets for cryptocurrency transactions remains challenging to achieve. This paper introduces a novel concept of privacy-preserving multi-party proof of assets for cryptocurrency transactions, where the proof process does not disclose their cryptocurrency addresses and individual holding. We formalize both the system model and the security model, and present a concrete protocol. Finally, we show that the proposed protocol is provably secure and efficient. (C) 2020 Elsevier Inc. All rights reserved.