PoW-Based Distributed Cryptography with No Trusted Setup

@inproceedings{Andrychowicz2015PoWBasedDC,
  title={PoW-Based Distributed Cryptography with No Trusted Setup},
  author={Marcin Andrychowicz and Stefan Dziembowski},
  booktitle={CRYPTO},
  year={2015}
}
  • Marcin Andrychowicz, Stefan Dziembowski
  • Published in CRYPTO 2015
  • Computer Science
  • Motivated by the recent success of Bitcoin we study the question of constructing distributed cryptographic protocols in a fully peer-to-peer scenario under the assumption that the adversary has limited computing power and there is no trusted setup (like PKI, or an unpredictable beacon). We propose a formal model for this scenario and then we construct a broadcast protocol in it. This protocol is secure under the assumption that the honest parties have computing power that is some non-negligible… CONTINUE READING
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