Lockcoin: a secure and privacy-preserving mix service for bitcoin anonymity

TL;DR

Lockcoin is a novel bitcoin mixing service that enhances user privacy and security using cryptographic schemes, ensuring anonymity, scalability, and theft prevention, demonstrated through an efficient prototype on the test network.

Contribution

It introduces a new mix service with cryptographic protocols for improved privacy, security, and scalability in bitcoin transactions.

Findings

Prototype implemented on bitcoin test network

Experimental results show efficiency of the solution

Source code publicly available on GitHub

Abstract

We propose Lockcoin, a secure and privacy-preserving mix service for bitcoin anonymity. We introduce mix servers to provide mix service for user to prevent attackers linking the input address with output address by using blind signature shceme, multisignature scheme. Lockcoin provides anonymity, scalability, bitcoin compatibillity, theft impossibility and accountability. We have proposed a prototype of Lockcoin based on bitcoin test network, experimental results show that our solution is efficient. Lockcoin's source codes are released on github.com/Northeastern-University-Blockchain/Lockcoin.