A lattice-based blind ring signature scheme for sensitive data protection in blockchain applications

Every transaction is made public and verified by a third party, and the transparency of blockchain applications leads to privacy leaks. Everyone can access the transaction, making it easier for network analysis to identify the user's identity, which is a major problem with the blockchain. Financial institutions have become hesitant to adopt blockchain technology; as a result, preventing its spread. To confirm that encryption and security are maintained for transactions in the blockchain, this research introduces a zero-knowledge proof (ZKP) based transaction validation scheme. To increase the security of blockchain applications, the proposed lattice-based blind ring signature (LBRS) scheme integrates blind and ring signatures and is applied to sensitive data. The data are encrypted using this encryption scheme before being stored with the transactional information in the blocks. The encrypted data is then stored in the blocks, which users can retrieve after verification. The encrypted data is then stored in blocks, which users can retrieve after verification. A verification scheme based on the ZKP is used to prevent unauthorized access and changes to the data. The proposed LBRS scheme meets the security analysis requirement. The performance of an LBRS scheme is compared to other relevant models in terms of execution time, encryption time, and decryption time. Overall, the results are more encouraging and reassuring than other relevant works of interest. Finally, this model provides better computational security and satisfies the requirements like correctness and security analysis.