Paper 2019/014

BlAnC: Blockchain-based Anonymous and Decentralized Credit Networks

Gaurav Panwar, Satyajayant Misra, and Roopa Vishwanathan

Abstract

Distributed credit networks, such as Ripple and Stellar, are becoming popular as an alternative means for financial transactions. However, the current designs do not preserve user privacy or are not truly decentralized. In this paper, we explore the creation of a distributed credit network that preserves user and transaction privacy and unlinkability. We propose BlAnC, a novel, fully decentralized blockchain-based credit network where credit transfer between a sender-receiver pair happens on demand. In BlAnC, multiple concurrent transactions can occur seamlessly, and malicious network actors that do not follow the protocols and/or disrupt operations can be identified efficiently. We perform security analysis of our proposed protocols in the universal composability framework to demonstrate its strength, and discuss how our network handles operational dynamics. We also present preliminary experiments and scalability analyses.

Metadata
Available format(s)
PDF
Category
Applications
Publication info
Published elsewhere. Minor revision.ACM CODASPY
DOI
10.1145/3292006.3300034
Keywords
blockchaindecentralizedanonymity
Contact author(s)
roopav @ nmsu edu
History
2019-01-09: received
Short URL
https://ia.cr/2019/014
License
Creative Commons Attribution
CC BY

BibTeX

@misc{cryptoeprint:2019/014,
      author = {Gaurav Panwar and Satyajayant Misra and Roopa Vishwanathan},
      title = {BlAnC: Blockchain-based Anonymous and Decentralized Credit Networks},
      howpublished = {Cryptology ePrint Archive, Paper 2019/014},
      year = {2019},
      doi = {10.1145/3292006.3300034},
      note = {\url{https://eprint.iacr.org/2019/014}},
      url = {https://eprint.iacr.org/2019/014}
}
Note: In order to protect the privacy of readers, eprint.iacr.org does not use cookies or embedded third party content.