Blockchain is a point-to-point distributed ledger technology based on cryptographic algorithms. However, the open and transparent blockchain ledger supplemented by statistical methods such as sociological mining and data mining has caused users’ privacy to face major threats. Therefore, privacy protection has become a focus of current blockchain technology research. Ring signature technology is a commonly used encryption technology in the field of privacy protection. Therefore, this paper constructs a blockchain privacy protection scheme based on ring signature.This solution built a privacy data storage protocol based on the ring signature on the elliptic curve, and used the complete anonymity of the ring signature to ensure the security of data and user identity privacy in blockchain applications. The correctness and safety proof analysis of the proposed scheme were also carried out.