Authors
Benedikt Bünz, Steven Goldfeder, Joseph Bonneau
Publication date
2017/4
Journal
IEEE Security and Privacy on the blockchain (IEEE S&B)
Description
Blockchains generated using a proofof-work consensus protocol, such as Bitcoin or Ethereum, are promising sources of public randomness. However, the randomness is subject to manipulation by the miners generating the blockchain. A general defense is to apply a delay function, preventing malicious miners from computing the random output until it is too late to manipulate it. Ideally, this delay function can provide a short proofof-delay that is efficient enough to be verified within a smart contract, enabling the randomness source to be directly by smart contracts. In this paper we describe the challenges of solving this problem given the extremely limited computational capacity available in Ethereum, the most popular generalpurpose smart contract framework to date. We introduce a novel multi-round protocol for verifying delay functions using a refereed delegation model. We provide a prototype Ethereum implementation to analyze performance and find that it is feasible in terms of gas costs, costing roughly 180000 gas (US $0.11 1) to post a beacon and 720000 gas (US $0.98) to resolve a dispute. We also discuss the incentive challenges raised by providing a secure randomness beacon as a public good.
Total citations
20172018201920202021202220232024468122017171
Scholar articles
B Bünz, S Goldfeder, J Bonneau - IEEE Security and Privacy on the blockchain (IEEE …, 2017