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PAChain: Private, Authenticated and Auditable Consortium Blockchain

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Cryptology and Network Security (CANS 2019)

Part of the book series: Lecture Notes in Computer Science ((LNSC,volume 11829))

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Abstract

Blockchain provides a distributed ledger recording a globally agreed, immutable transaction history, which may not be suitable for Fintech applications that process sensitive information. This paper aims to solve three important problems for practical blockchain applications: privacy, authentication and auditability.

Private transaction means that the transaction can be validated without revealing the transaction details, such as the identity of the transacting parties and the transaction amount. Auditable transaction means that the complete transaction details can be revealed by auditors, regulators or law enforcement agencies. Authenticated transaction means that only authorized parties can be involved in the transaction. In this paper, we present a private, authenticated and auditable consortium blockchain, using a number of cryptographic building blocks.

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Notes

  1. 1.

    Hyperledger Fabric Architecture Explained. http://hyperledger-fabric.readthedocs.io/en/latest/arch-deep-dive.html.

  2. 2.

    Hyperledger Fabric 1.0 currently uses the account balance model by default, but it also supports the UTXO model.

  3. 3.

    One may argue that it gives too much power for auditor. However in most companies, internal auditor should always be able to control and governance business operations. In some industries, laws require that information must be provided to the court when requested (e.g., anti-money laundering in banks and lawful interception in telecommunication industry).

  4. 4.

    https://jira.hyperledger.org/browse/FAB-2005.

  5. 5.

    This public key \(Y_1\) can be a long term public key if recipient anonymity is not protected in the previous transaction. Otherwise, it can be a one-time public key.

  6. 6.

    A 64-bit range proof by the recent Bulletproof [5] is about 800 bytes.

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Author information

Authors and Affiliations

  1. The University of Hong Kong, Pok Fu Lam, Hong Kong

    Tsz Hon Yuen

Authors
  1. Tsz Hon Yuen
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Correspondence to Tsz Hon Yuen .

Editor information

Editors and Affiliations

  1. Fujian Normal University, Fuzhou, China

    Yi Mu

  2. Singapore Management University, Singapore, Singapore

    Robert H. Deng

  3. Fujian Normal University, Fuzhou, China

    Xinyi Huang

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Yuen, T.H. (2019). PAChain: Private, Authenticated and Auditable Consortium Blockchain. In: Mu, Y., Deng, R., Huang, X. (eds) Cryptology and Network Security. CANS 2019. Lecture Notes in Computer Science(), vol 11829. Springer, Cham. https://doi.org/10.1007/978-3-030-31578-8_12

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  • DOI: https://doi.org/10.1007/978-3-030-31578-8_12

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-030-31577-1

  • Online ISBN: 978-3-030-31578-8

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