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Implementation of real estate contract system using zero knowledge proof algorithm based blockchain

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Abstract

A real estate contract is a high-risk contract with a large amount of money, and there are many problems in the risk and reliability of fraud. In particular, online contracts have low reliability and high risk. If you can manage information on these issues and prevent forgery and duplication of contract information, you can maintain low cost and high efficiency. Blockchain technology is being used as an alternative to the enormous cost and reliability issues associated with offline real estate contracts. When blockchain technology is applied to an online contract management system, reliability and scalability are efficient and confidentiality can be ensured. However, as real estate transactions using blockchain technology increase online, problems arise in scalability. Therefore, in this paper, we implemented an Ethereum-based online real estate contract system that solved the scalability using the zero-knowledge proof algorithm. The real estate contract system enables online contract management and discrimination of contract forgery through blockchain. In particular, it was possible to prevent fraud until the contract was concluded and the contract was terminated.

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Acknowledgement

This study was supported by the Institute for Information & communication Technol-ogy Planning & evaluation grant funded by the Korea Ministry of Science and ICT(No. 2020-0- 00105).

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Authors and Affiliations

  1. Onther Inc, 527, Gangnam-daero, Seocho-gu, Seoul, Republic of Korea

    SoonHyeong Jeong

  2. Liberal & Arts College, Anyang University, 22, 37-Beongil, Samdeok-Ro, Manan-Gu, yang430-714, Anyang, South Korea

    Byeongtae Ahn

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  1. SoonHyeong Jeong
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  2. Byeongtae Ahn
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Correspondence to Byeongtae Ahn.

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Jeong, S., Ahn, B. Implementation of real estate contract system using zero knowledge proof algorithm based blockchain. J Supercomput 77, 11881–11893 (2021). https://doi.org/10.1007/s11227-021-03728-1

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