- Proposed: 300,000 USD worth
- Accepted: 300,000 USD worth
- Total Received Amount to Date: 60,000 USD worth
- Reference : Klaytn price today, KLAY marketcap, chart, and info | CoinMarketCap 1
- 21.01.14.(Tx) : 105,135 KLAY - $60K (1KLAY = $0.570700)
Proposal & Progress Reports
- Proposal : [Zkrypto] ZKlay
- Presentation - Video / Materials
- Progress Report(1) : (upload) TBD
- Progress Report(2) : (upload) TBD
- Progress Report(3) : (upload) TBD
- On review
- Period : 2021.1. ~ 2021.6. (expected)
Brief Introduction of the Project
Along with the rapid growth of the blockchain market, digital assets using blockchain are emerging one after another. Thus, privacy and security issues for users’ digital assets are becoming more crucial. However, in Klaytn which is an account-based public blockchain, all activities and assets of users are available publicly. It not only reveals user privacy but also violates the privacy regulation like EU GDPR. Although the simple encryption of accounts and transactions can preserve privacy, it triggers two issues: how to ensure the correctness of the transactions and the accounts, and how to meet the other regulation of anti money laundering. It is important for Klaytn to meet the regulations which require privacy and verifiability.
This proposal aims to tackle the privacy and verifiability issue on Klaytn environment. To solve the problem, we propose a zero-knowledge proof based project called ZKlay. In the proposed ZKlay, the user account values are encrypted and there is a special transferring operation called swap between the account model and the utxo model. A user can swap the encrypted asset between the account model and the utxo model in an encrypted form while the correctness is guaranteed by the zero-knowledge proof. In the utxo model, the asset transfers are performed anonymously, in which the transfer is not traceable in public. Nonetheless, the proposed scheme allows an authorized auditing entity to trace the transactions if it is required.
We will provide a technical report, and a software for the proposed ZKlay project.
Four deliverables are included as below:
Technical paper: research paper on cryptographic protocols and ZKlay framework
Implementation code for swap function (smart contract)
Implementation code for proof verification smart contract
Developers’ and users’ manuals
(Optional) new KIP to support anonymous Klay transfer