### MoNet: A Fast Payment Channel Network for Scriptless Cryptocurrency Monero

##### Abstract

We propose MoNet, the first bi-directional payment channel network with unlimited lifetime for Monero. It is fully compatible with Monero without requiring any modification of the current Monero blockchain. MoNet preserves transaction fungibility, i.e., transactions over MoNet and Monero are indistinguishable, and guarantees anonymity of Monero and MoNet users by avoiding any potential privacy leakage introduced by the new payment channel network. We also propose a new crypto primitive, named Verifiable Consecutive One-way Function (VCOF). It allows one to generate a sequence of statement-witness pairs in a consecutive and verifiable way, and these statement-witness pairs are one-way, namely it is easy to compute a statement-witness pair by knowing any of the pre-generated pairs, but hard in an opposite flow. By using VCOF, a signer can produce a series of consecutive adaptor signatures CAS. We further propose the generic construction of consecutive adaptor signature as an important building block of MoNet. We develop a proof-of-concept implementation for MoNet, and our evaluation shows that MoNet can reach the same transaction throughput as Lightning Network, the payment channel network for Bitcoin. Moreover, we provide a security analysis of MoNet under the Universal Composable (UC) security framework.

Available format(s)
Category
Cryptographic protocols
Publication info
Published elsewhere. ICDCS'22
Keywords
Payment Channel Network Monero Scriptless Blockchain
Contact author(s)
zhimei sui1 @ monash edu
Joseph Liu @ monash edu
Jiangshan Yu @ monash edu
xrqin @ cs hku hk
History
2022-06-14: approved
See all versions
Short URL
https://ia.cr/2022/744

CC BY-NC-SA

BibTeX

@misc{cryptoeprint:2022/744,
author = {Zhimei Sui and Joseph K. Liu and Jiangshan Yu and Xianrui Qin},
title = {MoNet: A Fast Payment Channel Network for Scriptless Cryptocurrency Monero},
howpublished = {Cryptology ePrint Archive, Paper 2022/744},
year = {2022},
note = {\url{https://eprint.iacr.org/2022/744}},
url = {https://eprint.iacr.org/2022/744}
}

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