Project Details
Description
While a number of anonymous cryptocurrencies have been proposed, very few have been proven secure. Moreover, these candidates aim at achieving complete privacy (i.e. where no transaction information is publicly available). Even less is known about privacy preserving smart contracts as the handful of candidate constructions that have been proposed only offer partial privacy and are not proven to achieve clear security definitions. In fact, it is still necessary to formally define standard smart contracts (i.e. without privacy guarantees) and prove that existing protocols (or modified version of those) realize such definitions. Another concern with current candidate constructions lies in their compatibility with current financial laws and regulations, since they do not allow for lawful auditing, instead irrevocably hiding all traces of financial activity. This project aims at establishing solid theoretical foundations for analyzing and constructing auditable privacy preserving blockchain applications compatible with by answering the following main questions:
1. What different privacy levels are desirable in cryptocurrency
transactions? How can we efficiently realize each of them with provably
secure protocols?
2. What is the formal definition of the security properties guaranteed by
standard smart contracts? Can existing smart contract systems be
adapted to provably achieve these properties?
3. What different privacy levels are desirable in smart contracts? How can
we efficiently realize each of them with provably secure protocols?
4. What information should be revealed to authorities in case of a lawful
audit? How to allow authorities to obtain such information from our
privacy preserving protocols without undermining our security
guarantees?
5. How can current blockchain consensus protocols adapted to operate
with privacy preserving applications without sacrificing existing security
guarantees?
1. What different privacy levels are desirable in cryptocurrency
transactions? How can we efficiently realize each of them with provably
secure protocols?
2. What is the formal definition of the security properties guaranteed by
standard smart contracts? Can existing smart contract systems be
adapted to provably achieve these properties?
3. What different privacy levels are desirable in smart contracts? How can
we efficiently realize each of them with provably secure protocols?
4. What information should be revealed to authorities in case of a lawful
audit? How to allow authorities to obtain such information from our
privacy preserving protocols without undermining our security
guarantees?
5. How can current blockchain consensus protocols adapted to operate
with privacy preserving applications without sacrificing existing security
guarantees?
Acronym | P2DP |
---|---|
Status | Active |
Effective start/end date | 01/12/2021 → 31/03/2027 |
Collaborative partners
- IT University of Copenhagen (lead)
- Bar-Ilan University (Project partner)
- KU Leuven
- The IMDEA Software Institute
- Monash University
Funding
- Independent Research Fund Denmark: DKK6,191,821.00
Keywords
- Blockchain
- Smart Contracts
- Multiparty Computation
- MPC
- Privacy
- Accountability
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