(2015) Liar, Liar, Coins on Fire! — Penalizing Equivocation By Loss of Bitcoins.
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Abstract
We show that equivocation, i.e., making conflicting statements to others in a distributed protocol, can be monetarily disincentivized by the use of crypto-currencies such as Bitcoin. To this end, we design completely decentralized non-equivocation contracts, which make it possible to penalize an equivocating party by the loss of its money. At the core of these contracts, there is a novel cryptographic primitive called accountable assertions, which reveals the party's Bitcoin credentials if it equivocates. Non-equivocation contracts are particularly useful for distributed systems that employ public append-only logs to protect data integrity, e.g., in cloud storage and social networks. Moreover, as double-spending in Bitcoin is a special case of equivocation, the contracts enable us to design a payment protocol that allows a payee to receive funds at several unsynchronized points of sale, while being able to penalize a double-spending payer after the fact.
| Item Type: | Conference or Workshop Item (A Paper) (Paper) |
|---|---|
| Additional Information: | pub_id: 1041 Bibtex: penalizing-equivocation URL date: None |
| Uncontrolled Keywords: | accountability,bitcoin,crypto-currencies,cryptography,equivocation |
| Divisions: | Nico Döttling (Cryptographic Algorithms, CA) Cryptographic Systems (CrypSys) |
| Conference: | CCS ACM Conference on Computer and Communications Security |
| Depositing User: | Sebastian Weisgerber |
| Date Deposited: | 26 Jul 2017 10:30 |
| Last Modified: | 18 Jul 2019 12:08 |
| Primary Research Area: | NRA1: Trustworthy Information Processing |
| URI: | https://publications.cispa.saarland/id/eprint/565 |
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