VeloCash: Anonymous Decentralized Probabilistic Micropayments With Transferability
Micropayments are one of the challenges in cryptocurrencies. Micropayments on the blockchain have the problem that the fee is high for the transfer amount. As a countermeasure, a method called Layer-two has been proposed to consolidate transactions outside the blockchain and improve the blockchain&a...
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| Format: | Article |
| Language: | English |
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IEEE
2022-01-01
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| Series: | IEEE Access |
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| Online Access: | https://ieeexplore.ieee.org/document/9864600/ |
| _version_ | 1828105012491845632 |
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| author | Taisei Takahashi Taishi Higuchi Akira Otsuka |
| author_facet | Taisei Takahashi Taishi Higuchi Akira Otsuka |
| author_sort | Taisei Takahashi |
| collection | DOAJ |
| description | Micropayments are one of the challenges in cryptocurrencies. Micropayments on the blockchain have the problem that the fee is high for the transfer amount. As a countermeasure, a method called Layer-two has been proposed to consolidate transactions outside the blockchain and improve the blockchain’s throughput. As one of the existing Layer-two schemes, Decentralized Probabilistic Micropayments have been proposed. The winning amount is registered in the blockchain, and the lottery tickets are issued to be won with probability <inline-formula> <tex-math notation="LaTeX">$p$ </tex-math></inline-formula>, which allows us to aggregate approximately <inline-formula> <tex-math notation="LaTeX">$(1/p)$ </tex-math></inline-formula> transactions into one. Unfortunately, existing solutions do not allow for ticket transferability, and the smaller <inline-formula> <tex-math notation="LaTeX">$p$ </tex-math></inline-formula>, the more difficult it is to use them in the real world. Here we propose <inline-formula> <tex-math notation="LaTeX">$\textsf {VeloCash}$ </tex-math></inline-formula>, Decentralized Probabilistic Micropayments with Transferability, which preserves anonymity. By introducing tamper-proof assumptions for sending and receiving the tickets, we make <inline-formula> <tex-math notation="LaTeX">$p$ </tex-math></inline-formula> smaller. As a tamper-proof hardware assumption, <inline-formula> <tex-math notation="LaTeX">$\textsf {VeloCash}$ </tex-math></inline-formula> uses Attested Execution Secure Processors, a formal abstraction of secure processors with attested execution functionality and Direct Anonymous Attestation to achieve anonymity for sending and receiving tickets. <inline-formula> <tex-math notation="LaTeX">$\textsf {VeloCash}$ </tex-math></inline-formula> can detect double-spending attacks perfectly and revoke the adversary’s device. |
| first_indexed | 2024-04-11T09:56:05Z |
| format | Article |
| id | doaj.art-3420fb83756b4f8caa295b67737ce547 |
| institution | Directory Open Access Journal |
| issn | 2169-3536 |
| language | English |
| last_indexed | 2024-04-11T09:56:05Z |
| publishDate | 2022-01-01 |
| publisher | IEEE |
| record_format | Article |
| series | IEEE Access |
| spelling | doaj.art-3420fb83756b4f8caa295b67737ce5472022-12-22T04:30:34ZengIEEEIEEE Access2169-35362022-01-0110937019373010.1109/ACCESS.2022.32010719864600VeloCash: Anonymous Decentralized Probabilistic Micropayments With TransferabilityTaisei Takahashi0https://orcid.org/0000-0002-3831-7965Taishi Higuchi1Akira Otsuka2https://orcid.org/0000-0001-6862-2576Institute of Information Security, Yokohama, Kanagawa, JapanInstitute of Information Security, Yokohama, Kanagawa, JapanInstitute of Information Security, Yokohama, Kanagawa, JapanMicropayments are one of the challenges in cryptocurrencies. Micropayments on the blockchain have the problem that the fee is high for the transfer amount. As a countermeasure, a method called Layer-two has been proposed to consolidate transactions outside the blockchain and improve the blockchain’s throughput. As one of the existing Layer-two schemes, Decentralized Probabilistic Micropayments have been proposed. The winning amount is registered in the blockchain, and the lottery tickets are issued to be won with probability <inline-formula> <tex-math notation="LaTeX">$p$ </tex-math></inline-formula>, which allows us to aggregate approximately <inline-formula> <tex-math notation="LaTeX">$(1/p)$ </tex-math></inline-formula> transactions into one. Unfortunately, existing solutions do not allow for ticket transferability, and the smaller <inline-formula> <tex-math notation="LaTeX">$p$ </tex-math></inline-formula>, the more difficult it is to use them in the real world. Here we propose <inline-formula> <tex-math notation="LaTeX">$\textsf {VeloCash}$ </tex-math></inline-formula>, Decentralized Probabilistic Micropayments with Transferability, which preserves anonymity. By introducing tamper-proof assumptions for sending and receiving the tickets, we make <inline-formula> <tex-math notation="LaTeX">$p$ </tex-math></inline-formula> smaller. As a tamper-proof hardware assumption, <inline-formula> <tex-math notation="LaTeX">$\textsf {VeloCash}$ </tex-math></inline-formula> uses Attested Execution Secure Processors, a formal abstraction of secure processors with attested execution functionality and Direct Anonymous Attestation to achieve anonymity for sending and receiving tickets. <inline-formula> <tex-math notation="LaTeX">$\textsf {VeloCash}$ </tex-math></inline-formula> can detect double-spending attacks perfectly and revoke the adversary’s device.https://ieeexplore.ieee.org/document/9864600/Blockchainanonymitymicropaymenttransferabilitydirect anonymous attestationattested execution secure processors |
| spellingShingle | Taisei Takahashi Taishi Higuchi Akira Otsuka VeloCash: Anonymous Decentralized Probabilistic Micropayments With Transferability IEEE Access Blockchain anonymity micropayment transferability direct anonymous attestation attested execution secure processors |
| title | VeloCash: Anonymous Decentralized Probabilistic Micropayments With Transferability |
| title_full | VeloCash: Anonymous Decentralized Probabilistic Micropayments With Transferability |
| title_fullStr | VeloCash: Anonymous Decentralized Probabilistic Micropayments With Transferability |
| title_full_unstemmed | VeloCash: Anonymous Decentralized Probabilistic Micropayments With Transferability |
| title_short | VeloCash: Anonymous Decentralized Probabilistic Micropayments With Transferability |
| title_sort | velocash anonymous decentralized probabilistic micropayments with transferability |
| topic | Blockchain anonymity micropayment transferability direct anonymous attestation attested execution secure processors |
| url | https://ieeexplore.ieee.org/document/9864600/ |
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