Estimation of Crypto Net Worth using Zero Knowledge Proof

The bane of cryptocurrency wallets is that there are too many of them. Many wallets support only a few individual currencies or a set of currencies. They are preferred over generic wallets, which cover all currencies, as each is quite functional and practical for their given currencies over their generic counterparts. We need a system that provides us with all our currencies and their values in one spot so we can have an overview or look at all our investments at a glance. The solution is a Dapp which enables us to link all our wallets in one place and provide a dashboard with the complete crypto net worth across various chains and wallets. An understated privacy issue is seen in many places; like when applying for visas to other countries, we often have to show our bank statements to prove our net worth. This example also holds for cryptocurrencies. If a user wants to reveal all their crypto assets, they have to give an exact distribution of their crypto assets and their wallet addresses to the one asking for the details, impeding their privacy. Once the wallet address is revealed, the asker can continuously keep track of the users’ transaction histories and hence track the user’s current worth at all times, and know about all the transactions the user will do in the future. It is a notable security and privacy issue. The solution to the above problem is a system wherein someone could ask the user whether their net worth is above a particular threshold. The system will return the answer as true or false, but to maintain the integrity of the answer, we will use Zero Knowledge Proof. It will ensure that the total net worth response from all the linked distributed wallets passes the threshold. It will help protect the user’s privacy, and they will no longer have to give an exact distribution of their cryptocurrencies or share their wallet addresses.