Cryptology ePrint Archive: Report 2019/014

BlAnC: Blockchain-based Anonymous and Decentralized Credit Networks

Gaurav Panwar and 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.

Category / Keywords: applications / blockchain, decentralized, anonymity

Original Publication (with minor differences): ACM CODASPY
DOI:
10.1145/3292006.3300034

Date: received 5 Jan 2019

Contact author: roopav at nmsu edu

Available format(s): PDF | BibTeX Citation

Version: 20190109:004738 (All versions of this report)

Short URL: ia.cr/2019/014


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