Bingsheng Zhang (Lancaster University), Roman Oliynykov (IOHK Ltd.), Hamed Balogun (Lancaster University)

A treasury system is a community-controlled and decentralized collaborative decision-making mechanism for sustainable funding of blockchain development and maintenance. During each treasury period, project proposals are submitted, discussed, and voted for; top-ranked projects are funded from the treasury. The Dash governance system is a real-world example of such kind of systems. In this work, we, for the first time, provide a rigorous study of the treasury system. We modelled, designed, and implemented a provably secure treasury system that is compatible with most existing blockchain infrastructures, such as Bitcoin, Ethereum, etc. More specifically, the proposed treasury system supports liquid democracy/delegative voting for better collaborative intelligence. Namely, the stake holders can either vote directly on the proposed projects or delegate their votes to experts. Its core component is a distributed universally composable secure end-to-end verifiable voting protocol. The integrity of the treasury voting decisions is guaranteed even when all the voting committee members are corrupted. To further improve efficiency, we proposed the world’s first honest verifier zero-knowledge proof for unit vector encryption with logarithmic size communication. This partial result may be of independent interest to other cryptographic protocols. A pilot system is implemented in Scala over the Scorex 2.0 framework, and its benchmark results indicate that the proposed system can support tens of thousands of treasury participants with high efficiency.

View More Papers

Privacy Attacks to the 4G and 5G Cellular Paging...

Syed Rafiul Hussain (Purdue University), Mitziu Echeverria (University of Iowa), Omar Chowdhury (University of Iowa), Ninghui Li (Purdue University), Elisa Bertino (Purdue University)

Read More

Analyzing Semantic Correctness with Symbolic Execution: A Case Study...

Sze Yiu Chau (Purdue University), Moosa Yahyazadeh (The University of Iowa), Omar Chowdhury (The University of Iowa), Aniket Kate (Purdue University), Ninghui Li (Purdue University)

Read More

Balancing Image Privacy and Usability with Thumbnail-Preserving Encryption

Kimia Tajik (Oregon State University), Akshith Gunasekaran (Oregon State University), Rhea Dutta (Cornell University), Brandon Ellis (Oregon State University), Rakesh B. Bobba (Oregon State University), Mike Rosulek (Oregon State University), Charles V. Wright (Portland State University), Wu-Chi Feng (Portland State University)

Read More

Distinguishing Attacks from Legitimate Authentication Traffic at Scale

Cormac Herley (Microsoft), Stuart Schechter (Unaffiliated)

Read More