Paper 2016/991
Bootstrapping the Blockchain --- Directly
Juan A. Garay and Aggelos Kiayias and Nikos Leonardos and Giorgos Panagiotakos
Abstract
The Bitcoin backbone protocol [Eurocrypt 2015] extracts basic properties of Bitcoin's underlying {\em blockchain} data structure, such as ``common prefix'' and ``chain quality,'' and shows how fundamental applications including consensus and a robust public transaction ledger can be built on top of them. The underlying assumptions are ``proofs of work'' (POWs), adversarial hashing power strictly less than $1/2$ {\em and} no adversarial pre-computation---or, alternatively, the existence of an unpredictable ``genesis'' block. In this paper we show how to remove the latter assumption, presenting a ``bootstrapped'' Bitcoin-like blockchain protocol relying on POWs that builds genesis blocks ``from scratch'' in the presence of adversarial pre-computation. The only known previous result in the same setting (unauthenticated parties, no trusted setup) [Crypto 2015] is indirect in the sense of creating a PKI first and then employing conventional PKI-based authenticated communication. With our construction we establish that consensus can be solved directly by a blockchain protocol {\em without} trusted setup assuming an honest majority (in terms of computational power). % We also formalize {\em miner unlinkability}, a privacy property for blockchain protocols, and demonstrate that our protocol retains the same level of miner unlinkability as Bitcoin itself.
Metadata
- Available format(s)
- Category
- Cryptographic protocols
- Publication info
- Preprint. MINOR revision.
- Keywords
- Bitcoinbootstrappingunlinkability
- Contact author(s)
- pagio91i @ gmail com
- History
- 2018-03-23: last of 3 revisions
- 2016-10-17: received
- See all versions
- Short URL
- https://ia.cr/2016/991
- License
-
CC BY