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Non-malleable commitments, introduced by Dolev, Dwork and Naor (STOC 1991), are a fundamental cryptographic primitive, and their round complexity has been a subject of great interest. And yet, the goal of achieving non-malleable commitments with only one or two rounds has been elusive. Pass (TCC 2013) captured this difficulty by proving important impossibility results regarding two-round non-malleable commitments. This led to the widespread belief that achieving two-round nonmalleable commitments was impossible from standard assumptions. We show that this belief was false. Indeed, we obtain the following positive results: We construct two-message non-malleable commitments satisfying non-malleability with respect to commitment, based on standard sub-exponential assumptions, namely: sub-exponential one-way permutations, sub-exponential ZAPs, and sub-exponential DDH. Furthermore, our …