A COMPARATIVE STUDY OF ZERO KNOWLEDGE PROOF AND HOMOMORPHIC ENCRYPTION IN GUARANTEEING DATA PRIVACY IN BLOCKCHAIN APPLICATIONS

Homomorphic Encryption and Zero Knowledge Proofs are two trending concepts that are widely popular as data privacy preservation techniques in a wide variety of applications, especially in those associated with the newly evolved block chain technology which are immutable, distributed and secure. Zero knowledge proof is a cryptographic technique can provide proof that a certain statement is correct, without revealing any details about the statement, while homomorphic encryption allows to perform computations on encrypted data without decrypting it. This article explores the significance of the data privacy aspect provided by both ZKP and Homomorphic Encryption and how it can be effectively used to improvise the privacy of blockchain applications in various domains.