Insured MPC: efficient secure computation with financial penalties

Carsten Baum, Bernardo David, Rafael Dowsley

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

Abstract

Fairness in Secure Multiparty Computation (MPC) is known to be impossible to achieve in the presence of a dishonest majority. Previous works have proposed combining MPC protocols with cryptocurrencies in order to financially punish aborting adversaries, providing an incentive for parties to honestly follow the protocol. The focus of existing work is on proving that this approach is possible and unfortunately they present monolithic and mostly inefficient constructions. In this work, we put forth the first UC secure modular construction of “Insured MPC”, where either the output of the private computation (which describes how to distribute funds) is fairly delivered or a proof that a set of parties has misbehaved is produced, allowing for financial punishments. Moreover, both the output and the proof of cheating are publicly verifiable, allowing third parties to independently validate an execution. We present an efficient compiler that implements Insured MPC from an MPC protocol with certain properties, a standard (non-private) Smart Contract and a publicly verifiable homomorphic commitment scheme. As an intermediate step, we propose the first construction of a publicly verifiable homomorphic commitment scheme with composability guarantees.

Original languageEnglish
Title of host publicationFinancial Cryptography and Data Security
Subtitle of host publication24th International Conference, FC 2020 Kota Kinabalu, Malaysia, February 10–14, 2020 Revised Selected Papers
EditorsJoseph Bonneau, Nadia Heninger
Place of PublicationCham Switzerland
PublisherSpringer
Pages404-420
Number of pages17
ISBN (Electronic)9783030512804
ISBN (Print)9783030512798
DOIs
Publication statusPublished - 2020
Externally publishedYes
EventFinancial Cryptography and Data Security Conference 2020 - Kota Kinabalu, Malaysia
Duration: 10 Feb 202014 Feb 2020
Conference number: 24th
https://link.springer.com/book/10.1007/978-3-030-51280-4 (Proceedings)
https://fc20.ifca.ai (Website)

Publication series

NameLecture Notes in Computer Science
PublisherSpring
Volume12059
ISSN (Print)0302-9743
ISSN (Electronic)1611-3349

Conference

ConferenceFinancial Cryptography and Data Security Conference 2020
Abbreviated titleFC 2020
CountryMalaysia
CityKota Kinabalu
Period10/02/2014/02/20
Internet address

Cite this

Baum, C., David, B., & Dowsley, R. (2020). Insured MPC: efficient secure computation with financial penalties. In J. Bonneau, & N. Heninger (Eds.), Financial Cryptography and Data Security: 24th International Conference, FC 2020 Kota Kinabalu, Malaysia, February 10–14, 2020 Revised Selected Papers (pp. 404-420). (Lecture Notes in Computer Science ; Vol. 12059 ). Springer. https://doi.org/10.1007/978-3-030-51280-4_22