Liar, Liar, coins on fire!: Penalizing equivocation by loss of bitcoins

Conference contribution
(Conference Contribution)


Publication Details

Author(s): Ruffing T, Kate A, Schröder D
Publisher: Association for Computing Machinery
Publication year: 2015
Pages range: 219-230
ISBN: 9781450338325
Language: English


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.



FAU Authors / FAU Editors

Schröder, Dominique Prof. Dr.
Lehrstuhl für Informatik 13 (Angewandte Kryptographie)


How to cite

APA:
Ruffing, T., Kate, A., & Schröder, D. (2015). Liar, Liar, coins on fire!: Penalizing equivocation by loss of bitcoins. (pp. 219-230). Association for Computing Machinery.

MLA:
Ruffing, Tim, Aniket Kate, and Dominique Schröder. "Liar, Liar, coins on fire!: Penalizing equivocation by loss of bitcoins." Proceedings of the 22nd ACM SIGSAC Conference on Computer and Communications Security, CCS 2015 Association for Computing Machinery, 2015. 219-230.

BibTeX: 

Last updated on 2018-27-11 at 20:50