Publication

Smart Contract With Secret Parameters

Serge Vaudenay
2020
Conference Papers

Abstract

By design, smart contracts' data and computations are public to all participants. In this paper, we study how to create smart contracts with parameters that need to stay secret. We propose a way to keep some of the parameters off-chain, while guaranteeing correctness of the computation, using a combination of a commitment scheme and a zero-knowledge proof system. We describe an implementation of our construction, based on ethereum smart contracts and zk-SNARKS. We also provide a small example and a cost analysis of our approach.

Official source

https://infoscience.epfl.ch/entities/publication/09fb59c4-9321-4e26-a340-4a163a116c62

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Serge Vaudenay
2020
Conference Papers

Abstract

Official source

https://infoscience.epfl.ch/entities/publication/09fb59c4-9321-4e26-a340-4a163a116c62

About this result

Related concepts (14)

Smart contract

A smart contract is a computer program or a transaction protocol that is intended to automatically execute, control or document events and actions according to the terms of a contract or an agreement. The objectives of smart contracts are the reduction of need for trusted intermediators, arbitration costs, and fraud losses, as well as the reduction of malicious and accidental exceptions. Smart contracts are commonly associated with cryptocurrencies, and the smart contracts introduced by Ethereum are generally considered a fundamental building block for decentralized finance (DeFi) and NFT applications.

Ethereum

Ethereum is a decentralized blockchain with smart contract functionality. Ether (Abbreviation: ETH; sign: Ξ) is the native cryptocurrency of the platform. Among cryptocurrencies, ether is second only to bitcoin in market capitalization. It is open-source software. Ethereum was conceived in 2013 by programmer Vitalik Buterin. Additional founders of Ethereum included Gavin Wood, Charles Hoskinson, Anthony Di Iorio and Joseph Lubin. In 2014, development work began and was crowdfunded, and the network went live on 30 July 2015.

Contract

A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more mutually agreeing parties. A contract typically involves the transfer of goods, services, money, or a promise to transfer any of those at a future date. In the event of a breach of contract, the injured party may seek judicial remedies such as damages or rescission. A binding agreement between actors in international law is known as a treaty.

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