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dc.contributor.author
Avarikioti, Zeta
dc.contributor.author
Thyfronitis Litos, Orfeas S.
dc.contributor.author
Wattenhofer, Roger
dc.contributor.editor
Bonneau, Joseph
dc.contributor.editor
Heninger, Nadia
dc.date.accessioned
2020-08-28T12:19:06Z
dc.date.available
2020-08-25T10:47:25Z
dc.date.available
2020-08-28T12:19:06Z
dc.date.issued
2020
dc.identifier.isbn
978-3-030-51279-8
en_US
dc.identifier.isbn
978-3-030-51280-4
en_US
dc.identifier.issn
0302-9743
dc.identifier.issn
1611-3349
dc.identifier.other
10.1007/978-3-030-51280-4_19
en_US
dc.identifier.uri
http://hdl.handle.net/20.500.11850/432554
dc.description.abstract
Bitcoin and similar blockchain systems have a limited transaction throughput because each transaction must be processed by all parties, on-chain. Payment channels relieve the blockchain by allowing parties to execute transactions off-chain while maintaining the on-chain security guarantees, i.e., no party can be cheated out of their funds. However, to maintain these guarantees all parties must follow blockchain updates ardently. To alleviate this issue, a channel party can hire a “watchtower” to periodically check the blockchain for fraud on its behalf. However, watchtowers will only do their job properly if there are financial incentives, fees, and punishments. There are known solutions, but these need complex smart contracts, and as such are not applicable to Bitcoin’s simple script language. This raises the natural question of whether incentivized watchtowers are at all possible in a system like Bitcoin. In this work, we answer this question affirmatively, by introducing Cerberus channels, an extension of Lightning channels. Cerberus channels reward watchtowers while remaining secure against bribing and collusion; thus participants can safely go offline for an extended period of time. We show that Cerberus channels are correct, and provide a proof-of-concept implementation in the Bitcoin script language.
en_US
dc.language.iso
en
en_US
dc.publisher
Springer
en_US
dc.subject
Bitcoin
en_US
dc.subject
Collateral
en_US
dc.subject
Incentives
en_US
dc.subject
Lightning network
en_US
dc.subject
Payment channels
en_US
dc.subject
Payment network
en_US
dc.subject
Security
en_US
dc.subject
Watchtowers
en_US
dc.title
Cerberus Channels: Incentivizing Watchtowers for Bitcoin
en_US
dc.type
Conference Paper
ethz.book.title
Financial Cryptography and Data Security
en_US
ethz.journal.title
Lecture Notes in Computer Science
ethz.journal.volume
12059
en_US
ethz.journal.abbreviated
LNCS
ethz.pages.start
346
en_US
ethz.pages.end
366
en_US
ethz.event
24th International Conference on Financial Cryptography and Data Security (FC 2020)
en_US
ethz.event.location
Kota Kinabalu, Malaysia
en_US
ethz.event.date
February 10-14, 2020
en_US
ethz.identifier.scopus
ethz.publication.place
Cham
en_US
ethz.publication.status
published
en_US
ethz.leitzahl
ETH Zürich::00002 - ETH Zürich::00012 - Lehre und Forschung::00007 - Departemente::02140 - Dep. Inf.technologie und Elektrotechnik / Dep. of Inform.Technol. Electrical Eng.::02640 - Inst. f. Technische Informatik und Komm. / Computer Eng. and Networks Lab.::03604 - Wattenhofer, Roger / Wattenhofer, Roger
en_US
ethz.leitzahl.certified
ETH Zürich::00002 - ETH Zürich::00012 - Lehre und Forschung::00007 - Departemente::02140 - Dep. Inf.technologie und Elektrotechnik / Dep. of Inform.Technol. Electrical Eng.::02640 - Inst. f. Technische Informatik und Komm. / Computer Eng. and Networks Lab.::03604 - Wattenhofer, Roger / Wattenhofer, Roger
en_US
ethz.date.deposited
2020-08-25T10:47:35Z
ethz.source
FORM
ethz.eth
yes
en_US
ethz.availability
Metadata only
en_US
ethz.rosetta.installDate
2020-08-28T12:19:19Z
ethz.rosetta.lastUpdated
2021-02-15T16:44:36Z
ethz.rosetta.versionExported
true
ethz.COinS
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