This Week in Blockchain Research Issue #57

Issue #57


Issue #57

Paper of the Week:

Paper Title: HyperService: Interoperability and Programmability Across Heterogeneous Blockchains.

TLDR:

  1. In today’s blockchain ecosystem, we see many distinct blockchains, falling roughly into the categories of public, private, and consortium blockchains. In a world deluged with isolated blockchains, interoperability is power.

  2. Since smart contracts executing on blockchains have transformed blockchains from append-only distributed ledgers into programmable state machines, token exchange is not the complete scope of blockchain interoperability. Instead, blockchain interoperability is complete only with programmability, allowing developers to write decentralized applications executable across those disconnected state machines.

  3. This work recognizes at least two categories of challenges for simultaneously delivering programmability and interoperability. First, the programming model of cross-chain decentralized applications (or dApps) is unclear. Second, existing token-exchange oriented interoperability protocols, such as atomic cross-chain swaps (ACCS) , are not generic enough to realize cross-chain dApps.

  4. To meet these challenges, this work proposes the first platform for building and executing dApps across heterogeneous blockchains.

  5. The proposed work is powered by two innovative designs: a developer-facing programming framework for writing cross-chain dApps, and a blockchain-facing cryptography protocol to securely realize those dApps on blockchains.

  6. Within this programming framework, a blockchain-neutral and extensible model is proposed to describe cross-chain dApps, and a high-level programming language to write cross-chain dApps under the proposed programming model.

  7. Universal inter-blockchain (UIP) protocol is the cryptography protocol that handles the complexity of cross-chain execution.

  8. A prototype is implemented in approximately 35,000 lines of code and evaluated with three categories of cross-chain dApps. The experiments show that the end-to-end dApp execution latency imposed by the proposed work is in the order of seconds.

AuthorsZhuotao Liu*†, Yangxi Xiang‡, Jian Shi, Peng Gao✜, Haoyu Wang‡, Xusheng Xiao†§, Bihan Wen#, and Yih-Chun Hu*†,

Affiliations: * University of Illinois Urbana Champaign, † HyperService Consortium, ‡ Beijing University of Posts and Telecommunications, § Case Western Reserve University, ✜ University of California, Berkeley, and # Nanyang Technological University.


Security:

1. Paper Title: HACL×N: Verified Generic SIMD Crypto (for all your favorite platforms).

Summary: How to write and verify generic crypto code in the F* programming language that exploits single-instruction multiple data (SIMD) parallelism.

Authors: Marina Polubelova*, Karthikeyan Bhargavan*, Jonathan Protzenko†, Benjamin Beurdouche*‡, Aymeric Fromherz§, Natalia Kulatova*, and Santiago Zanella-Béguelin†,

Affiliations* Inria, † Microsoft Research, ‡ Mozilla, and § Carnegie Mellon University.

2. Paper Title: Towards Interpreting Smart Contract against Contract Fraud: A Practical and Automatic Realization.

Summary: An approach to enable people without computer background to understand and operate Ethereum smart contracts.

Authors: Ming Li*, Anjia Yang*, and Xinkai Chen*,

Affiliations* Jinan University.


Privacy:

1. Paper Title: Kachina Foundations of Private Smart Contracts.

Summary: Contracts with privacy guarantees, which can be implemented without additional trust assumptions beyond what is assumed for Nakamoto consensus and the existence of a securely generated common reference string.

Authors: Thomas Kerber, Aggelos Kiayias, and Markulf Kohlweiss,

Affiliations* The University of Edinburgh and † IOHK.

2. Paper Title: Blockchain Stealth Address Schemes.

Summary: This paper introduces an improved stealth address scheme which has an underlying address data of (Ai,Bi,i), where 𝑖 is a child number and i ∈ [0,2^{31}−1].

Authors: Gary Yu*,

Affiliations* Grin & Gotts.

3. Paper Title: ZeroJoin: Combining ZeroCoin and CoinJoin.

Summary: A practical privacy-enhancing protocol for blockchain transactions.

Authors: Alexander Chepurnoy*†, and Amitabh Saxena*,

Affiliations* Ergo Platform and † IOHK.


Scalability:

1. Paper Title: Bitcoin-Compatible Virtual Channels.

Summary: The first virtual channel protocols that are built on the UTXO-model and require a script language supporting only a digital signature scheme and a timelock functionality, being thus backwards compatible with virtually every cryptocurrency, including Bitcoin.

Authors: Lukas Aumayr*, Oguzhan Ersoy†, Andreas Erwig‡, Sebastian Faust‡, Kristina Hostáková‡, Matteo Maffei*, Pedro Moreno-Sanchez*, and Siavash Riahi‡,

Affiliations* TU Wien, † TU Delft, and ‡ TU Darmstadt.

2. Paper Title: Splitting Payments Locally While Routing Interdimensionally.

Summary: This paper presents a protocol for locally splitting payments in a PCN that guarantees termination, atomicity, balance neurality, bounded loss for the sender, correctness, and optionally unlinkability.

Authors: Lisa Eckey*, Sebastian Faust*, Kristina Hostáková*, and Stefanie Roos†.

Affiliations* TU Darmstadt and † TU Delft.

3. Paper Title: TxChain: Efficient Cryptocurrency Light Clients via Contingent Transaction Aggregation.

Summary: A novel mechanism to maintain efficiency of light clients even under high transaction volumes.

Authors: Alexei Zamyatin*‡, Zeta Avarikioti†, Daniel Perez*‡, and William J. Knottenbelt*,

Affiliations* Imperial College London, † ETH Zurich, and ‡ Interlay.io.

4. Paper Title: CryptoMaze: Atomic Off-Chain Payments in Payment Channel Network.

Summary: A novel privacy-preserving, off-chain payment protocol for Payment Channel Network, guaranteeing atomicity.

Authors: Subhra Mazumdar* and Sushmita Ruj

Affiliations* Indian Statistical Institute Kolkata and † Data61.


Proofs:

No papers.


Consensus:

1. Paper Title: Tree-Chain: A Fast Lightweight Consensus Algorithm for IoT Applications.

Summary: A consensus algorithm that does not demand the validators to solve any puzzle or provide proof of x before storing a new block.

Authors: Ali Dorri* and Raja Jurdak*,

Affiliations* Queensland University of Technology.


Tokenomics:

1. Paper Title: Smart Contracts on the Blockchain – A Bibliometric Analysis and Review.

Summary: This paper analyzes 468 peer-reviewed articles on the topic of smart contracts and their 20,188 references, providing a summary and analysis of the current state of research on smart contracts. 

AuthorsLennart Ante*

Affiliations: * University of Hamburg.

2. Paper Title: Do Cryptocurrencies Have Fundamental Values?

Summary: This paper studies the role of technological fundamentals in Initial Coin Offering (ICO) successes and valuations.

AuthorsYukun Liu*, Jinfei Sheng†, and Wanyi Wang†,

Affiliations: * University of Rochester and † University of California, Irvine.

3. Paper Title: A Model of the Optimal Selection of Crypto Assets.

Summary: A modelling framework for the optimal selection of crypto assets. 

AuthorsSilvia Bartolucci* and Andrei A. Kirilenko,

Affiliations: * Imperial College Business School and † University of Cambridge.


Conferences & CFPs:


Past Conferences’ Videos:


Jobs:


RFPs:


This newsletter is for informational purposes only. This content does not in any way constitute an offer or solicitation of an offer to buy or sell any investment solution or recommendation to buy or sell a security; nor it is to be taken as legal, business, investment, or tax advice. In fact, none of the information in this or other content on zk Capital should be relied on in any manner as advice. None of the authors, contributors, or anyone else connected with zk Capital, in any way whatsoever, can be responsible for your use of the information contained in this newsletter.

This Week in Blockchain Research Issue #56

Issue #56


Issue #56

Paper of the Week:

Paper Title: Promise: Leveraging Future Gains for Collateral Reduction.

TLDR:

  1. The trustless nature of the blockchain systems means not only that parties may transact without trusting each other, but also that they should not trust each other. This creates a design challenge for interactions which would typically involve such trust.

  2. This paper focuses on blockchain protocols which, at least in part, encode trust by monetary collateral. Here, collateral is value escrowed by a service provider, Alice, to guarantee the user, Bob, that regardless of the behavior of Alice, Bob cannot lose funds.

  3. Payment, cross-chain, and generic computation protocols can be designed such that Bob is guaranteed to receive from Alice at least the amount of funds that are at risk in case she misbehaves.

  4. Protocols involving collateral include cross-chain communication [21], scalable off-chain payments, state channels, watchtowers, and outsourcing of computation and verification games. However, relying on collateral as trust is itself associated with a set of challenges.

  5. This work is a simple but effective mechanism to lower entry barriers for intermediaries in protocols relying on collateral for secure operation.

  6. Further, it is a subscription mechanism: Instead of locking up a significant amount of funds as collateral, it allows intermediaries to stake future payments (e.g., service fees) with the promise the payments will be disbursed upon the correctly provision of the service.

  7. This work can be applied to XCLAIM and NOCUST. Both protocols are suitable candidates for it, as in both protocols “service providers” are a necessary part.

AuthorsDominik Harz*, Lewis Gudgeon*, Rami Khalil*, and Alexei Zamyatin*,

Affiliations: * Imperial College London.


Security:

1. Paper Title: Contra-*: Mechanisms for Countering Spam Attacks on Blockchain’s Memory Pools.

Summary: A new form of attack that can be carried out on the memory pools (mempools), and mainly targets blockchain-based cryptocurrencies.

Authors: Muhammad Saad*, Joongheon Kim†, DaeHun Nyang†, David Mohaisen*

Affiliations* University of Central Florida and † Ewha Womans University.

2. Paper Title: Towards a Decentralized Digital Engineering Assets Marketplace: Empowered by Model-based Systems Engineering and Distributed Ledger Technology.

Summary: This paper proposes a decentralized open marketplace to facilitate DEAs exchange during system developments among inter-organization stakeholders.

Authors: Jinzhi Lu*, Xiaochen Zheng*, Zhenchao Hu†, Huisheng Zhang†, and Dimitris Kiritsis*

Affiliations* EPFL and † Jiaotong University.


Privacy:

1. Paper Title: Anonymous Lottery In the Proof-of-Stake setting.

Summary: This work focuses on anonymizing the selection function in the Proof-of-Stake setting to provide a formal definition of anonymous selection, and show an instantiation.

Authors: Foteini Baldimtsi*, Varun Madathil†, Alessandra Scafuro†, and Linfeng Zhou†,

Affiliations* George Mason University and † North Carolina State University.

2. Paper Title: Towards Privacy-assured and Lightweight On-chain Auditing of Decentralized Storage.

Summary: An auditing solution that addresses on-chain privacy and efficiency, from a synergy of homomorphic linear authenticators with polynomial commitments for succinct proofs, and the sigma protocol for provable privacy.

Authors: Yuefeng Du*‡, Huayi Duan*‡, Anxin Zhou*‡, Cong Wang*‡, Man Ho Au†, and Qian Wang§,

Affiliations* City University of Hong Kong, † The Hong Kong Polytechnic University, ‡ CityU University of Hong Kong Shenzhen Research Institute, and § Wuhan University.

3. Paper Title: Collaborative Deanonymization.

Summary: Protocols to resolve the tension between anonymity and accountability in a peer-to-peer manner.

Authors: Patrik Keller*, Martin Florian†, and Rainer Bohme*,

Affiliations* University of Innsbruck and † Weizenbaum Institute / HU Berlin.


Scalability:

1. Paper Title: A First Look into DeFi Oracles.

Summary: The first study of DeFi oracles.

Authors: Bowen Liu* and Pawel Szalachowski*,

Affiliations* Singapore University of Technology and Design.

2. Paper Title: Enabling Cross-chain Transactions: A Decentralized Cryptocurrency Exchange Protocol.

Summary: A distributed cryptocurrency trading scheme to solve the problem of centralized exchanges, which can achieve trading between different types of cryptocurrencies.

Authors: Hangyu Tian*, Kaiping Xue*, Shaohua Li†, Jie Xu*, Jianqing Liu‡, and Jun Zhao§,

Affiliations* University of Science and Technology of China, † ETH Zurich, ‡ University of Alabama in Huntsville, and § Nanyang Technological University.


Proofs:

No papers.


Consensus:

1. Paper Title: A Difficulty in Controlling Blockchain Mining Costs via Cryptopuzzle Difficulty.

Summary: This paper models blockchain mining as an all-pay auction to design cryptopuzzles that discourage miners to adopt higher computational costs at logit equilibrium (QRE with logit responses) with all miners actively participating.

Authors: Venkata Sriram Siddhardh Nadendla* and Lav R. Varshney†,

Affiliations* Missouri University of Science and Technology and † University of Illinois, Urbana-Champaign.

2. Paper Title: Deterministic Blockchain BFT Protocol XP for Complete Asynchronous Networks.

Summary: This paper provides the first probabilistic CBC Casper protocol that achieves liveness property against t = ⌊ n−1 ⌋ Byzantine participants in complete asynchronous networks.

Authors: Yongge Wang*,

Affiliations* UNC Charlotte.

3. Paper Title: QuickSync: A Quickly Synchronizing PoS-Based Blockchain Protocol.

Summary: A novel PoS-based blockchain protocol to achieve security against fully adaptive corruptions without compromising on performance.

Authors: Shoeb Siddiqui* and Sujit Gujar*,

Affiliations* IIIT Hyderabad.


Tokenomics:

1. Paper Title: Do Cryptocurrencies Have Fundamental Values?

Summary: This paper studies the role of technological fundamentals in Initial Coin Offering (ICO) successes and valuations.

AuthorsYukun Liu*, Jinfei Sheng†, and Wanyi Wang†,

Affiliations: * University of Rochester and † University of California Irvine.

2. Paper Title: Smart Contracts on the Blockchain – A Bibliometric Analysis and Review.

Summary: This paper analyzes 468 peer-reviewed articles on the topic of smart contracts and their 20,188 references, providing a summary and analysis of the current state of research on smart contracts. 

AuthorsLennart Ante*,

Affiliations: * University of Hamburg.

3. Paper Title: Autonomous Business Reality.

Summary: This Article offers the first attempt to document the full range of technology-enabled automation at play among today’s business entities.

AuthorsCarla Reyes*

Affiliations: * Michigan State University.

4. Paper Title: Information Transmission across Cryptocurrency Markets and the Role of the Blockchain.

Summary: High latency in cryptocurrency markets implies correlations well below one across exchanges at high frequencies.

AuthorsThomas Dimpfl*† and Dirk G. Baur†,

Affiliations: * University of Western Australia and † University of Tubingen.


Conferences & CFPs:


Past Conferences’ Videos:


Jobs:


RFPs:


This newsletter is for informational purposes only. This content does not in any way constitute an offer or solicitation of an offer to buy or sell any investment solution or recommendation to buy or sell a security; nor it is to be taken as legal, business, investment, or tax advice. In fact, none of the information in this or other content on zk Capital should be relied on in any manner as advice. None of the authors, contributors, or anyone else connected with zk Capital, in any way whatsoever, can be responsible for your use of the information contained in this newsletter.

This Week in Blockchain Research Issue #55

Issue #55


Issue #55

Paper of the Week:

Paper Title: Twins: White-Glove Approach for BFT Testing.

TLDR:

  1. Byzantine behavior is unconstrained, hence, one can only implement a subset of such behaviors and the subset of Byzantine behaviors to be tested are chosen by system de- velopers, who are naturally tainted by having designed the system with certain limited Byzantine behaviors in mind.

  2. In addition, similar challenges arise when testing BFT protocols via formal specification and verification methods. Branching over Byzantine (arbitrary) behavior is unconstrained, leading to state explosion when modeling and model checking.

  3. Moreover, as a pragmatical consideration, developing test code that implements Byzantine attacks might be risky.

  4. This work proposes a new approach for systematically testing BFT systems. Instead of coding incorrect behavior, the proposed work runs faulty nodes in two (or generally, k) parallel universes in tandem. Both instances have the same credentials/signing-keys and run autonomously.

  5. The proposed work is based on the insight that most interesting Byzantine attacks can rely on a correct implementation of the protocol, such that a Byzantine node appears to be honest. Therefore, a message not generated by the correct implementation will not be generated. 

  6. Several famous attacks on BFT protocols are reinstated in this approach. In two of these attacks, it took the community more than a decade to discover protocol flaws that this work would have surfaced within minutes.

  7. The authors refer to their proposed work as a “white glove” approach: It is neither “block-box”, since it does modify the internal behavior of the tested system, nor is it “white-box”, because it does not open internal code modules.

  8. It minutely interacts with existing code to control message delivery and schedule various coarse-steps such as protocol rounds. Most importantly, it is practical to deploy in real systems as it uses existing correct node code. In fact, it can be implemented by thinly wrapping twin nodes with a network-scheduler acting as an adversary, easily keeping up with an evolving software project.

AuthorsShehar Bano*, Alberto Sonnino*, Andrey Chursin*, Dmitri Perelman*, Dahlia Malkhi*,

Affiliations: * Calibra.


Security:

1. Paper Title: Threshold ECDSA for Decentralized Asset Custody.

Summary: A new threshold ECDSA protocol that is designed with interoperability applications in mind and achieves several improvements over previous solutions.

Authors: Adam Gągol* and Damian Straszak*,

Affiliations* Cardinals.

2. Paper Title: Storing and Retrieving Secrets on a Blockchain.

Summary: This work uses a blockchain to achieve a functionality that is essentially equivalent to extractable witness encryption.

Authors: Vipul Goyal*, Abhiram Kothapalli*, Elisaweta Masserova*, Bryan Parno*, and Yifan Song*,

Affiliations* Carnegie Mellon University.


Privacy:

1. Paper Title: SEPAR: A Privacy-Preserving Blockchain-based System for Regulating Multi-Platform Crowdworking Environments.

Summary: A technical solution to the problem of imposing global constraints on distributed independent entities in the context of multi-platform crowdworking systems.

Authors: Mohammad Javad Amiri*, Joris Duguépéroux†, Tristan Allard†, Divyakant Agrawal*, and Amr El Abbadi*,

Affiliations* University of California Santa Barbara and † Univ Rennes.


Scalability:

1. Paper Title: JaxNet: Scalable Blockchain Network.

Summary: A scalable, decentralized cryptocurrency that is based on Proof of Work.

Authors: Iurii Shyshatsky*, Vinod Manoharan*, Taras Emelyanenko *, and Lucas Leger*,

Affiliations* JaxNet.


Proofs:

1. Paper Title: Proof-Carrying Data from Accumulation Schemes.

Summary: An accumulation scheme for a non-interactive argument, showing that this suffices to construct proof-carrying data (PCD), even if the argument itself does not have a sublinear-time verifier.

Authors: Benedikt Bünz*, Alessandro Chiesa†, Pratyush Mishra†, and Nicholas Spooner†,

Affiliations* Stanford University and † UC Berkeley.

2. Paper Title: Aggregatable Subvector Commitments for Stateless Cryptocurrencies.

Summary: This work formalizes aggregatable subvector commitment  (aSVCs), gives an efficient construction in prime-order groups from constant-sized polynomial commitments, and uses it to bootstrap a highly-efficient stateless cryptocurrency.

Authors: Alin Tomescu*, Ittai Abraham*, Vitalik Buterin†, Justin Drake†, Dankrad Feist†, and Dmitry Khovratovich†,

Affiliations* VMware Research and † Ethereum Foundation.


Consensus:

1. Paper Title: Account Management in Proof of Stake Ledgers.

Summary: A formal PoS wallet construction that enables delegation and stake pool formation.

Authors: Dimitris Karakostas*† and Aggelos Kiayias*† and Mario Larangeira†‡

Affiliations* University of Edinburgh, † IOHK, and ‡ Tokyo Institute of Technology.

2. Paper Title: From Byzantine Replication to Blockchain: Consensus is only the Beginning.

Summary: This paper discussed some misalignments between the state machine replication approach and the permissioned blockchain requirements and proposed several techniques to address them.

Authors: Alysson Bessani‡*, Eduardo Alchieri†, Joao Sousa*‡, Andre Oliveira‡*, Fernando Pedone‡,

Affiliations* Universidade de Lisboa, † Universidade de Brasılia, and Universita della Svizzera Italiana


Tokenomics:

1. Paper Title: Applying Blockchain Layer2 Technology to Mass E-Commerce.

Summary: The effect that layer2 technology can provide in reducing fee costs and improving transaction volumes.

AuthorsSijia Zhao* and Donal O’Mahony*,

Affiliations: * Trinity College Dublin.

2. Paper Title: Examining the National Security Implications of Cryptocurrencies.

Summary: This article argues that the United States government should embrace cryptocurrencies that are pseudonymous and should further study those which are considered anonymous.

Authors: Raffi Teperdjian*,

Affiliations* George Washington University.


Conferences & CFPs:


Past Conferences’ Videos:


Jobs:


RFPs:


This newsletter is for informational purposes only. This content does not in any way constitute an offer or solicitation of an offer to buy or sell any investment solution or recommendation to buy or sell a security; nor it is to be taken as legal, business, investment, or tax advice. In fact, none of the information in this or other content on zk Capital should be relied on in any manner as advice. None of the authors, contributors, or anyone else connected with zk Capital, in any way whatsoever, can be responsible for your use of the information contained in this newsletter.

This Week in Blockchain Research Issue #54

Issue #54


Issue #54

Paper of the Week:

Paper Title: Can a Blockchain Keep a Secret?

TLDR:

  1. Imagine posting an encrypted will to a blockchain to be opened only when the blockchain reaches consensus that the subject died. This work investigates the functionality of keeping a secret on the blockchain, in the context of public proof-of-stake blockchains.

  2. In this context, to achieve a scalable solution we need the “will of the blockchain” to be represented by a small committee. At the same time, we need the solution to remain secure even against a mobile adversary that can corrupt different participants at different times, as long as it corrupts no more than a set fraction of the total stake at any single time interval.

  3. However, this presents a challenge: If we use small committees, the adversary would have enough “corruption budget” to corrupt them all. One approach for addressing this challenge is using the player replacability property of systems such as Algorand where the members remain completely anonymous.

  4. This work uses proactive secret sharing techniques, where the secret is shared among members of a dynamic committee which is refreshed every few rounds. Whenever the committee changes, a handover protocol is executed in which members of the current committee re-share the secret among the members of the next one, in a way that prevents the adversary from combining shares from different committees. 

  5. By the time the attacker learns the identities, there is no point in compromising these parties.

Authors: Fabrice Benhamouda*, Craig Gentry*, Sergey Gorbunov†✜, Shai Halevi*, Hugo Krawczyk*, Chengyu Lin‡, Tal Rabin*, and Leonid Reyzin†§

Affiliations: * Algorand Foundation, † Algorand Inc., ‡ Columbia University, § Boston University, and ✜ University of Waterloo.


Security:

1. Paper Title: Distributed Auditing Proofs of Liabilities.

Summary: The aim of the document is to serve as a point of reference for implementing interoperable systems that prove the total liabilities and obligations of an entity in a distributed way, where every user can check inclusion of their values/balances in the total amount reported.

Authors: Konstantinos Chalkias*, Kevin Lewi*, Payman Mohassel, and Valeria Nikolaenko,

Affiliations* Facebook.

2. Paper Title: A Retrospective Analysis of User Exposure to (Illicit) Cryptocurrency Mining on the Web.

Summary: Analyzez the exposure of Web users to cryptocurrency mining.

AuthorsRalph Holz*, Diego Perino†, Matteo Varvello‡, Johanna Amann§, Andrea Continella*, Nate Evans✜, Ilias Leontiadis¶, Christopher NatoliQuirin Scheitle^,

Affiliations: * University of Twente, † Telefonica, ‡ Brave Inc., § ICSI, ✜ University of Denver, ¶ Samsung AI, & University of Sydney, and ^ Technical University of Munich.


Privacy:

No papers.


Scalability:

1. Paper Title: Generalized Bitcoin-Compatible Channels.

Summary: The notion of generalized channels, which generalizes payment channels to support any application expressed in the scripting language of the underlying blockchain, thereby enhancing their expressiveness.

Authors: Lukas Aumayr*, Oguzhan Ersoy†, Andreas Erwig‡, Sebastian Faust‡, Kristina Hostakova‡, Matteo Maffei*, Pedro Moreno-Sanchez*, and Siavash Riahi‡,

Affiliations* TU Wien, † TU Delft, and ‡ TU Darmstadt.


Proofs:

No papers.


Consensus:

1. Paper Title: Bracing A Transaction DAG with A Backbone Chain.

Summary: A novel two-layer framework of consensus, with a ledger in the form of a transaction DAG built on top of a delicately designed PoW- based backbone chain.

Authors: Shuyang Tang*‡, Qingzhao Zhang†, Zhengfeng Gao*, Jilai Zheng*, and Dawu Gu*,

Affiliations* Shanghai Jiao Tong University, † University of Michigan, and ‡ Cryptape Information Technology Co.

2. Paper Title: Proof of Review (PoR): A New Consensus Protocol for Deriving Trustworthiness of Reputation Through Reviews.

Summary: Combined concepts from proof of stake and proof of reputation to ensure a blockchain system comes to consensus on an honest (non-malicious) congruent review.

Authors: Zachary Zaccagni* and Ram Dantu*,

Affiliations* University of North Texas.


Tokenomics:

1. Paper Title: Cryptocurrencies as Property: Ruscoe and Moore v Cryptopia Limited (In Liquidation) [2020] NZHC 728.

Summary: This note outlines the approach taken to ‘the property question’.

AuthorsPaul Babie*, David Brown*, Ryan Catterwell†, and Mark Giancaspro*

Affiliations: * The University of Adelaide and † The University of Queensland.

2. Paper Title: Libra: A Concentrate of 'Blockchain Antitrust'.

Summary: This article aims to analyze the pro- and anticompetitive risks of the Li- bra project to address the overall desirability of the European Commission and the House of Representatives’ adversarial approaches.

AuthorsThibault Schrepel*

Affiliations: * Harvard.


Conferences & CFPs:


Past Conferences’ Videos:


Jobs:


RFPs:


This newsletter is for informational purposes only. This content does not in any way constitute an offer or solicitation of an offer to buy or sell any investment solution or recommendation to buy or sell a security; nor it is to be taken as legal, business, investment, or tax advice. In fact, none of the information in this or other content on zk Capital should be relied on in any manner as advice. None of the authors, contributors, or anyone else connected with zk Capital, in any way whatsoever, can be responsible for your use of the information contained in this newsletter.

This Week in Blockchain Research Issue #53

Issue #53


Issue #53

Paper of the Week:

Paper Title: Pointproofs: Aggregating Proofs for Multiple Vector Commitments.

TLDR:

  1. Vector commitments allow a committer to commit to a vector of N values and then selectively reveal elements of the committed vector, proving that they correspond to the original commitment.

  2. To make the tradeoff between storage and bandwidth more attractive, we need to reduce the proof size. Because individual proofs need to be cryptographically hard to forge, their sizes cannot be reduced too far. Instead, the savings come from having a single short proof for multiple revealed values.

  3. In many distributed applications, the commitments, values, and proofs come from multiple sources that are not even aware of each other’s data. This presents two problems that are not solved by subvector commitments: (i) there is no single entity that can produce a single proof for all the values, and (ii) proofs need to be with respect to multiple different commitments.

  4. This work constructs an efficient commitment scheme with small commitments and proofs where a user can independently commit to her variables and provide short proofs for any subset of them.

  5. The authors show how to apply their proposed work to smart-contract-based transactions on blockchains and evaluate them compared to alternative solutions.

  6. They also implement this work and evaluate its performance for various parameters.

Authors: Sergey Gorbunov*†, Leonid Reyzin*‡, Hoeteck Wee§✜, and Zhenfei Zhang*,

Affiliations: * Algorand, † University of Waterloo, ‡ Boston University, § CNRS, ENS, PSL, ✜ NTT Research.


Security:

1. Paper Title: Bank run Payment Channel Networks.

Summary: This work introduces a framework for launching Bankrun attacks, and develops three strategies with a focus on minimising the cost, draining important channels, and locking most amount of coins, respectively.

AuthorsZhichun Lu*, Runchao Han†‡, and Jiangshan Yu†,

Affiliations: * Zhejiang Gongshang University, † Monash University and ‡ CSIRO-Data61.


Privacy:

No papers.


Scalability:

1. Paper Title: zkRelay: Facilitating Sidechains using zkSNARK-based Chain-Relays.

Summary: This work facilitates trusted cross-blockchain state proofs by implementing a chain-relay that validates block headers from proof-of-work blockchains.

AuthorsMartin Westerkamp* and Jacob Eberhardt*,

Affiliations: * Technische Universita ̈t Berlin.


Proofs:

1. Paper Title: Hierarchical One-out-of-Many Proofs With Applications to Blockchain Privacy and Ring Signatures.

Summary: A new method of instantiating one-out-of-many proofs which reduces the proof generation time by an order of magnitude and in certain practical applications also helps to fasten the verification process of multiple proofs two or more times.

AuthorsAram Jivanyan* and Tigran Mamikonyan*,

Affiliations: * Zcoin.


Consensus:

1. Paper Title: Consensus for Crosschain Communications.

Summary: This work reviews the usage scenarios of crosschain communications: value transfer and atomic swaps, reading, writing, and state pinning.

Authors: Peter Robinson*

Affiliations* ConsenSys.


Tokenomics:

1. Paper Title: A System Dynamics Model of Bitcoin: Mining as an Efficient Market and the Possibility of ‘Peak Hash’.

Summary: The possibility of a decrease in the network hash rate from the next halving event (May 2020) is exposed, implying that the network may be close to ’peak hash’, if the price of bitcoin and the revenues from transaction fees will remain at approximately the present level.

AuthorsDavide Lasi* and Lukas Saul†,

Affiliations: * MIT and † Hefei University of Technology.

2. Paper Title: Tullock Contest: A Model of Proof-of-Work Mining in Cryptocurrencies.

Summary: This paper presents a simple N-player Tullock contest with fixed common costs and shared value. The model is reminiscent of a all-pay auction, although the reward assignment mech- anism differs.

AuthorsJorge Soria*

Affiliations: * University of Helsinki.

3. Paper Title: Dealing With Disruption: Emerging Approaches to FinTech Regulation.

Summary: This article examines the emerging approaches to regulating fintech as a distinct market phenomenon.

AuthorsSaule T. Omarova*

Affiliations: * Cornell University.

4. Paper Title: The Law of Blockchain.

Summary: The lex cryptographia of blockchain has been designed based on the rational choice assumption of human behavior. The article suggests that this is not a sufficient foundation for the future development of blockchain, and claims that it is necessary to develop a law and political economy framework of blockchain and its regulation through code.

AuthorsGeorgios Dimitropoulos*

Affiliations: * Hamad Bin Khalifa University.


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