Ring Signature with Multi Designated Verifier Zero Knowledge Proof for Privacy-Preserving Blockchain Platforms

Abstract

Blockchain data is immutable and publicly visible a sensitive signature is placed on-chain, anyone can attempt to verify it. This openness may lead to unintended information exposure. The standard ring signature cannot fully address all the privacy, selective-verification and time -controlled disclosure requirements that arise in modern secure systems. The proposed algorithm presents a Blockchain-based Ring Signature with Multi-Designated Verifier and Zero-Knowledge Proof (BRSMDV-ZKP) enables a signer anonymously authenticate a transaction with a group of public keys while ensuring that only designated verifiers can verify the signature, The scheme incorporates a challenge–response mechanism, randomized commitments, and encrypted verifiers specific data to ensure signer anonymity, trace resistance, and verifier exclusivity. A Zero-Knowledge Proof (ZKP) is employed to prove correct decryption of the signature without revealing the verifier′s private key. The time-lock puzzle enforces a predefined delay, preventing early verification and enabling reward–penalty mechanisms for verifier compliance. This approach reduces the risk of key leakage, preserves privacy in decentralized systems and multi-party environments, and supports secure applications such as confidential e-voting, sealed-bid auctions, and legal document verification on blockchain platforms.