Contributions to Proceedings:
M. Maffei, A. Kate, G. Malavolta, P. Moreno-Sanchez, S. Ravi:
"Concurrency and Privacy with Payment-Channel Networks";
in: "CCS '17 Proceedings of the 2017 ACM SIGSAC Conference on Computer and Communications Security",
ACM Digital Library,
New York,
2017,
ISBN: 978-1-4503-4946-8,
455
- 471.
English abstract:
PermissionlessblockchainsprotocolssuchasBitcoinareinherently limitedintransactionthroughputandlatency.Currenteffortsto address this key issue focus on off-chain payment channels that canbecombinedinaPayment-ChannelNetwork(PCN)toenable anunlimitednumberofpaymentswithoutrequiringtoaccessthe blockchainotherthantoregistertheinitialandfinalcapacityof eachchannel.Whilethisapproachpavesthewayforlowlatency andhighthroughputofpayments,itsdeploymentinpracticeraises severalprivacyconcernsaswellastechnicalchallengesrelatedto theinherentlyconcurrentnatureofpaymentsthathavenotbeen sufficientlystudiedsofar. In this work, we lay the foundations for privacy and concurrency in PCNs, presenting a formal definition in the Universal Composability framework as well as practical and provably securesolutions.Inparticular,wepresentFulgorandRayo.Fulgor isthefirstpaymentprotocolforPCNsthatprovidesprovableprivacyguaranteesforPCNsandisfullycompatiblewiththeBitcoin scriptingsystem.However,Fulgorisablockingprotocolandtherefore prone to deadlocks of concurrent payments as in currently available PCNs. Instead, Rayo is the first protocol for PCNs that enforcesnon-blocking progress (i.e.,atleastoneoftheconcurrent payments terminates). We show through a new impossibility result that non-blocking progress necessarily comes at the cost of weakerprivacy.AtthecoreofFulgorandRayoisMulti-HopHTLC, anewsmartcontract,compatiblewiththeBitcoinscriptingsystem, thatprovidesconditionalpaymentswhilereducingrunningtime andcommunicationoverheadwithrespecttopreviousapproaches. OurperformanceevaluationofFulgorandRayoshowsthatapaymentwith10intermediateuserstakesasfewas5seconds,thereby demonstratingtheirfeasibilitytobedeployedinpractice.
"Official" electronic version of the publication (accessed through its Digital Object Identifier - DOI)
http://dx.doi.org/10.1145/3133956.3134096
Electronic version of the publication:
http://publik.tuwien.ac.at/files/publik_268463.pdf
Created from the Publication Database of the Vienna University of Technology.