Abstract: Along with the proliferation of blockchain technology, ensuring the anonymity and confidentiality of transactions has become increasingly critical. Recently, blockchain networks remain vulnerable to various attacks targeting sensitive data. These attacks can severely undermine the security of an organization’s network and lead to sensitive information leakage, compromising privacy and confidentiality. To address these challenges, we introduce RingZk, an advanced privacy-preserving framework designed to enhance the privacy and security of blockchain. RingZk employs Ring Signature to sign a transaction in a manner that conceals their identity within a group of possible signers. Additionally, RingZk leverages Zero Knowledge Proofs to cryptographically secure transaction data, guaranteeing that sensitive information remains secure. This approach not only enhances transaction security but also fortifies the network against threats. The effectiveness of RingZk is assessed through a series of experiments focused on key privacy attributes, and it is compared against existing state-of-art techniques. The results reveal how our approach surpasses current solutions and is effective in addressing privacy and security issues in the realm of blockchain transactions.

Key words: blockchain security, privacy, blockchain, zero knowledge proof, ring signature