Privacy-oriented cryptocurrencies, like Zcash or Monero, provide fair transaction anonymity and confidentiality, but lack important features compared to fully public systems, like Ethereum. Specifically, supporting assets of multiple types and providing a mechanism to atomically exchange them, which is critical for e.g. decentralized finance (DeFi), is challenging in the private setting. By combining insights and security properties from Zcash and SwapCT (PETS 21, an atomic swap system for Monero), we present a simple zk-SNARKs based transaction scheme, called Zswap, which is carefully malleable to allow the merging of transactions, while preserving anonymity. Our protocol enables multiple assets and atomic exchanges by making use of sparse homomorphic commitments with aggregated open randomness, together with Zcash friendly simulation-extractable non-interactive zero-knowledge (NIZK) proofs. This results in a provably secure privacypreserving transaction protocol, with efficient swaps, and overall performance close to that of existing deployed private cryptocurrencies. It is similar to Zcash Sapling and benefits from existing code-bases and implementation expertise.

Smart contracts present a uniform approach for deploying distributed computation and have become a popular means to develop security critical applications. A major barrier to adoption for many applications is the public nature of existing systems, such as Ethereum. Several systems satisfying various definitions of privacy and requiring various trust assumptions have been proposed; however, none achieved the universality and uniformity that Ethereum achieved for non-private contracts: One unified method to construct most contracts. We provide a unified security model for private smart contracts which is based on the Universal Composition (UC) model and propose a novel core protocol, KACHINA, for deploying privacy-preserving smart contracts, which encompasses previous systems. We demonstrate the KACHINA method of smart contract development, using it to construct a contract that implements privacy-preserving payments, along the lines of Zerocash, which is provably secure in the UC setting and facilitates concurrency.

We present Ouroboros Crypsinous, the first formally analyzed privacy-preserving proof-of-stake blockchain protocol. To model its security we give a thorough treatment of private ledgers in the (G)UC setting that might be of independent interest. To prove our protocol secure against adaptive attacks, we introduce a new coin evolution technique relying on SNARKs and key-private forward secure encryption. The latter primitive-and the associated construction-can be of independent interest. We stress that existing approaches to private blockchain, such as the proof-of-work-based Zerocash are analyzed only against static corruptions.