Welcome to the resource topic for 2022/1286
Title:
ZEBRA: Anonymous Credentials with Practical On-chain Verification and Applications to KYC in DeFi
Authors: Deevashwer Rathee, Guru Vamsi Policharla, Tiancheng Xie, Ryan Cottone, Dawn Song
Abstract:ZEBRA is an Anonymous Credential (AC) scheme, supporting auditability and revocation, that provides practical on-chain verification for the first time. It realizes efficient access control on permissionless blockchains while achieving both privacy and accountability. In all prior solutions, users either pay exorbitant fees or lose privacy since authorities granting access can map users to their wallets. Hence, ZEBRA is the first to enable DeFi platforms to remain compliant with imminent regulations without compromising user privacy.
We evaluate ZEBRA and show that it reduces the gas cost incurred on the Ethereum Virtual Machine (EVM) by 11.8x when compared to Coconut [NDSS 2019], the state-of-the-art AC scheme for blockchains. This translates to a reduction in transaction fees from 94 USD to 8 USD on Ethereum in August 2022. However, 8 USD is still high for most applications, and ZEBRA further drives down credential verification costs through batched verification. For a batch of 512 layer-1 and layer-2 wallets, the gas cost is reduced by 35x and 641x on EVM, and the transaction fee is reduced to just 0.23 USD and 0.0126 USD on Ethereum, respectively. For perspective, these costs are comparable to the minimum transaction costs on Ethereum.
ePrint: https://eprint.iacr.org/2022/1286
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