MiniLedger: Compact-Sized Anonymous and Auditable Distributed Payments

Chatzigiannis, Panagiotis; Baldimtsi, Foteini

doi:10.1007/978-3-030-88418-5_20

Cited by 15 publications

(2 citation statements)

References 24 publications

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“…Another direction would be to design and implement practical PAFE schemes in any of the auditability settings, at least for more expressive functionalities (e.g., quadratic functions from [11,24]). Finally, it is worth exploring other use cases and applications for more efficient PAFE schemes, e.g., in the context of auditable cryptocurrencies [18,26,29] and auditable blockchain storage [32]. hybrids over the total number of QEnc queries that are subsequently different in just a single output of the QEnc(x 0 ,x 1 )→ct b query (based on the challenger bit) and prove them indistinguishable.…”

Section: Conclusion and Discussionmentioning

confidence: 99%

Publicly Auditable Functional Encryption

Koutsos

Papadopoulos

2023

Lecture Notes in Computer Science

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Section: Conclusion and Discussionmentioning

confidence: 99%

Publicly Auditable Functional Encryption

Koutsos

Papadopoulos

2023

Lecture Notes in Computer Science

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“…They did not, however, clarify the transaction verification scheme and took no steps to ensure privacy and transparency. A compact-sized anonymous and auditable distributed payment system was reported in [25]. N number of banks transact with one another via MiniLedger, a common mutable transaction ledger, modeled as a two-dimensional table with N columns.…”

Section: Related Workmentioning

confidence: 99%

A Low-Cost Cross-Border Payment System Based on Auditable Cryptocurrency With Consortium Blockchain: Joint Digital Currency

Islam

Shahjalal

et al. 2023

IEEE Trans. Serv. Comput.

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Due to the involvement of a large number of intermediaries across different time zones in the correspondent banking process, existing interbank payment systems cannot provide cost-effective cross-border transactions. They also suffer from lack of transparency and long transaction delays. These issues can be solved by designing a cryptocurrency in an auditable manner using a permissioned blockchain where a group of authorities can govern the network. In this paper, we propose a low-cost, seamless cross-border payment system based on an auditable cryptocurrency that enables unspent transaction output-based transactions in a consortium blockchain network. To manage the blockchain, participating countries execute the energy-efficient proof of authority consensus algorithm with equal rights. Unlike conventional cryptocurrencies, dynamic decentralized identifiers (DIDs) are used as transacting addresses so that self-manageable authentication can be performed on-chain without any interaction with a trusted third party. The identity of transacting parties is known to respective DID issuers only. This approach enables peer-to-peer transactions while protecting user privacy and ensuring transparency without jeopardizing auditability. For user convenience, multi-party computation and multi-signature protocols are also provided. The system was implemented in Python, and the transaction mechanism was tested. This paper can help with ongoing research on blockchain-based cross-border payment solutions worldwide.

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