![]() First, Vault decouples the storage of recent transactions from the storage of account balances, which enables Vault to delete old account state. Vault’s design is based on Algorand’s proof-of-stake consensus protocol and uses several techniques to achieve its goals. Vault is a new cryptocurrency design based on Algorand that minimizes these storage and bootstrapping costs for participants. As the number of users and transactions grows, this requirement becomes a significant burden, requiring users to download, verify, and store a large amount of data to participate. The paper can be viewed here.Ībstract: Decentralized cryptocurrencies rely on participants to keep track of the state of the system in order to verify new transactions. ![]() This paper was peer-reviewed and will appear at USENIX Security 2020. In particular, Pixel signatures reduce the size of blocks with 1500 transactions by 35% and reduce block verification time by 38%. Next, we evaluate Pixel in a real-world PoS blockchain implementation, showing that it yields notable savings in storage, bandwidth, and block verification time. We show how to integrate Pixel into any PoS blockchain. Pixel signatures are also forward-secure and let signers evolve their keys over time, such that new keys cannot be used to sign on old blocks, protecting against posterior corruptions attacks on blockchains. ![]() Pixel signatures consist of two group elements, regardless of the number of signers, can be verified using three pairings and one exponentiation, and support non-interactive aggregation of individual signatures into a multi-signature. We present Pixel, a pairing-based forward-secure multi-signature scheme optimized for use in blockchains, that achieves substantial savings in bandwidth, storage requirements, and verification effort. Designing efficient and secure digital signatures for use in PoS blockchains can substantially reduce bandwidth, storage and computing requirements from nodes, thereby enabling more efficient applications. However, posterior corruptions pose a common threat to these designs, because the adversary can corrupt committee verifiers after they certified a block and use their signing keys to certify a different block. These blocks are validated, propagated, and stored by all users in the network. In Proof-of-Stake (PoS) and permissioned blockchains, a committee of verifiers agrees and sign every new block of transactions. ![]()
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