FPPW: a fair and privacy preserving watchtower for Bitcoin

Arash Mirzaei, Amin Sakzad, Jiangshan Yu, Ron Steinfeld

Research output: Chapter in Book/Report/Conference proceedingConference PaperResearchpeer-review

3 Citations (Scopus)

Abstract

In this paper, we introduce FPPW, a new payment channel with watchtower scheme for Bitcoin. This new scheme provides fairness w.r.t. all channel participants including both channel parties and the watchtower. It means that the funds of any honest channel participant are safe even assuming that other two channel participants are corrupted and/or collude with each other. Furthermore, the watchtower in FPPW learns no information about the off-chain transactions and hence FPPW provides privacy against the watchtower. As a byproduct, we also define the coverage of a watchtower scheme, that is the total capacity of channels that a watchtower can cover on a scale of 0 to 1, and show that FPPW’s coverage is higher than those of PISA and Cerberus. The scheme can be implemented without any update in Bitcoin script.

Original languageEnglish
Title of host publication25th International Conference, FC 2021 Virtual Event, March 1–5, 2021 Revised Selected Papers, Part II
EditorsNikita Borisov, Claudia Diaz
Place of PublicationBerlin Germany
PublisherSpringer
Pages151-169
Number of pages19
ISBN (Electronic)9783662643310
ISBN (Print)9783662643303
DOIs
Publication statusPublished - 2021
EventFinancial Cryptography and Data Security Conference 2021 - Online
Duration: 1 Mar 20215 Mar 2021
Conference number: 25th
https://link.springer.com/book/10.1007/978-3-662-64331-0 (Proceedings)

Publication series

NameLecture Notes in Computer Science
PublisherSpringer
Volume12675
ISSN (Print)0302-9743
ISSN (Electronic)1611-3349

Conference

ConferenceFinancial Cryptography and Data Security Conference 2021
Abbreviated titleFC 2021
Period1/03/215/03/21
Internet address

Keywords

  • Bitcoin
  • Generalized channel
  • Lightning network
  • Payment channel
  • Privacy
  • Security
  • Watchtower

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