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As a distributed public ledger technology in a peer‐to‐peer network, blockchain has been widely used in a variety of Internet interaction systems in recent years, such as market supervision, property rights protection, and digital identity. However, in blockchain environment, all historical transaction data are open and transparent, and adversaries may illegally access private transaction data, which makes privacy attacks a core issue that hinders the popularization and application of blockchain. Different privacy‐preserving technologies such as zerocoin and zerocash have been proposed. However, the large amount of proofs and the slow verification speed hinder the effective application of zero‐knowledge proofs (ZKPs) in blockchain. This article proposes a privacy‐preserving model based on zk‐SNARKs and hash chain for efficient transfer of assets, called zkChain. Different from traditional privacy‐preserving …