Block-Hash Signature (BHS) for Transaction Validation in Smart Contracts for Security and Privacy using Blockchain

Abstract

Some of the well-known signature techniques like Winternitz and Lamport are not considered to be very appropriate for the usage of hashing or smart contracts in Blockchains security because of their size O(n2), which is prominently too high. Although in Blockchain, the security concern is on the top priority because of its distributed P2P design still, the security enhancement is required to sign and verify the documents forwarded to the peers, especially in Hyperledger Fabric. Here, this paper presents a new signature technique “Block-Hash” to enhance Blockchain security by using it in smart contracts as well as hashing with size 3Xn bits (n=256, generally for SHA-256 Hashing) and which can score 112 bits security. The proposed signature can be used appropriately for signing a smart contract by the endorser or committer node. Also, it can be used with a hash algorithm in forming a Merkle tree. Apart from the description and implementation of Block-Hash Signature, this paper has covered the analysis of its security and correctness measures with a table for result comparison.