HOMOMORPHIC ENCRYPTION IN 5IRE BLOCKCHAIN

Authors: Vilma Mattila, Prateek Dwivedi, Pratik Gauri & Md Ahbab

ABSTRACT

With the advent of blockchain technology, decentralized system is gaining huge popularity as it provides a new solution for data storage and sharing as well as keeping privacy in place. Blockchains are of two categories; public and private. Public blockchains are permissionless, mostly used for exchanging and mining cryptocurrency, where anyone can join and thus exposed to the risk of a privacy breach. If the content is the transaction information, one might opt for not sharing these data in the public domain. One solution could be to encrypt the information, but that comes at the cost of losing the usability of the data. This paper in- vestigates the security problem related to this passive adversarial activity and proposes a new technology that leverages the best parallel chain architecture of 5ire blockchain and homomorphic encryption (HE) so as to retain the advantages of a public blockchain without compromising the privacy of transaction information. We have coined the term 5ireHE for this encryption architecture. We achieve the security protection and integrity check of wallet data by enforcing the 5ireHE which is efficient.

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