Protocol evaluation demonstrates private credit history verification for decentralized finance borrowers, indicating practical undercollateralized lending without sacrificing pseudonymity.
Key Points
Design and evaluate zkPoC, a privacy-preserving proof-of-credit protocol that combines off-chain credit records with persistent on-chain histories to enable decentralized lending without requiring over-collateralization.
Constructed a protocol utilizing zk-SNARKs, counter-chained commitment nullifiers, and a persistent hidden identifier to link lending actions without revealing personal identity or address linkages.
Formally defined and mathematically proved unforgeability, non-reusability, and unlinkability properties under standard cryptographic assumptions.
Implemented a prototype across six Circom circuits and evaluated performance via R1CS constraint counts and on-chain EVM verification gas costs.
The six Circom on-chain circuits generated between 10,483 and 39,454 R1CS constraints.
On-chain verification required 228,363 to 352,527 gas units per proof, demonstrating practical deployability on EVM-compatible blockchains.