Ken Huang
A well-known Blockchain expert, chief scientist of NUChain, American DistributedApps CEO, member of Blockchain Experts Committee of Chinese Institute of Electronics and NULS technical advisor.
In this video, I will talk about Privacy in Blockchain.
First, let’s talk about privacy.
Privacy is actually the fundamental rights, constitutional rights of everyone.
In the U.S. the 4th amendment talking about is the Privacy. And also in Privacy Act continue further on the Privacy needs and regulation as well .
So, in this talk I will just define what is the Privacy in the Blockchain.
Basically, in Blockchain, the Privacy means the transaction, the sender and the receiver, and also the transactional amount should be hidden, do not be in the public.
So, that usually is the privacy requirement. That most of the privacy call or privacy protocol is doing.
So, by this definition, some top 10 blockchain coin in the coinmap doesn’t really meet this requirement.
Take an example, Bitcoin and Ethereum. You know the proper address of the sender and the receiver. How much coin is sent across one to another. So, Bitcoin, Ethereum is the top Coins in Coinmarketcap are Pseudo-anonymous. Basically means that all the transactions are open but the address who is behind this address is unknown. It's keeping a little bit of anonymity.
Big Data Analysis, it's very possible some agency or some Government agency or some companies can basically decide that who is behind that particular address.
The idea of HD Wallet is that everytime it can generally does different address given the same private key.
So for this reason, there is a need for the privacy coin. So, without endorse those cons or projects, I will give some examples of the coins.
And also its using basically what is called as a ring signature- basically the idea of ring signature is mix of bunch signatures. So, you don’t know whose address it is, whose private key has sent the transaction.
So, in small kind of scope, zero address is basically, I can prove to you who am I without revealing to you any details about myself. So, it's like I can prove what is true or false without giving any knowledge. So, It's zero-knowledge approve.
In pseudo there is some mechanism called ZK Stack, its basically in terms of memory and process. It's improved a little bit and also it doesn't need any trasta setup.