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Anvil: A Platform for Hybrid-Permission Off-Chain Lightning Networks

Cyrus Jian Bonyadi
Department of Computer Science and Electrical Engineering
UMBC

12:00noon–1pm
Friday, October 2, 2020
remotely via WebEx: umbc.webex.com/meet/sherman

A recording of the talk can be found here.

Abstract:

Anvil is a secure way to reduce the electricity cost of Bitcoin at scale. The cryptography problem solved in each block of Bitcoin mined has no real use yet consumes more electricity than New Zealand does annually. Many more efficient and faster networks exist but fail to maintain the game-theoretical security necessary for the wide-scale public permissionless environment of Bitcoin. To build a generalized platform for basing temporary permissioned networks on permissionless networks, we extend the existing two-party lightning network technology for Bitcoin to involve third-party entities. This extension is based on threshold encryption, voucher-based contracts, pegged sidechains, and the parent and child addresses used in traditional lightning networks.

About the Speaker:

Cyrus Bonyadi is a Ph.D. and SFS Scholar in computer science at UMBC working with Haibin Zhang, Sisi Duan, and Alan Sherman on consensus theory in distributed systems. He is a member of the UMBC Cyber Dawgs cyberdefense team that won first place at the 2017 National CCDC Championship.

Email: cbonyad1@umbc.edu

URL: https://www.linkedin.com/in/cbonyadi/

Host:

Alan T. Sherman: sherman@umbc.edu

Support for this event was provided in part by the National Science Foundation under SFS grant DGE-1753681.