FPPB: A Fast and Privacy-Preserving Method Based on the Permissioned Blockchain for Fair Transactions in Sharing Economy

Abstract

Blockchain is a distributed system with efficient transaction recording and has been widely adopted in sharing economy. Although many existing privacy-preserving methods on the blockchain have been proposed, finding a trade-off between keeping speed and preserving privacy of transactions remain challenging. To address this limitation, we propose a novel Fast and Privacy-preserving method based on the Permissioned Blockchain (FPPB) for fair transactions in sharing economy. Without breaking the verifying protocol and bringing additional off-blockchain interactive communication, FPPB protects the privacy and fairness of transactions. Additionally, experiments are implemented in EthereumJ (a Java implementation of the Ethereum protocol) to measure the performance of FPPB. Compared with normal transactions without cryptographic primitives, FPPB only slows down transactions slightly.