Karl Wüst (ETH Zurich), Loris Diana (ETH Zurich), Kari Kostiainen (ETH Zurich), Ghassan Karame (NEC Labs), Sinisa Matetic (ETH Zurich), Srdjan Capkun (ETH Zurich)

In this paper we propose Bitcontracts, a novel solution that enables secure and efficient execution of generic smart contracts on top of unmodified legacy cryptocurrencies like Bitcoin that do not support contracts natively. The starting point of our solution is an off-chain execution model, where the contract's issuers appoints a set of service providers to execute the contract's code. The contract's execution results are accepted if a quorum of service providers reports the same result and clients are free to choose which such contracts they trust and use. The main technical contribution of this paper is how to realize such a trust model securely and efficiently without modifying the underlying blockchain.

We also identify a set of generic properties that a blockchain system must support so that expressive smart contracts can be added safely, and analyze popular existing blockchains based on these criteria.

View More Papers

Digital Technologies in Pandemic: The Good, the Bad and...

Moderator: Ahmad-Reza Sadeghi, TU Darmstadt, Germany Panelists: Mario Guglielmetti, Legal Officer, European Data Protection Supervisor* Jaap-Henk Hoepman, Radbaud University, The Netherlands Alexandra Dmitrienko, University of Würzburg, Germany, Farinaz Koushanfar, UCSD, USA *attending in his personal capacity

Read More

DOVE: A Data-Oblivious Virtual Environment

Hyun Bin Lee (University of Illinois at Urbana-Champaign), Tushar M. Jois (Johns Hopkins University), Christopher W. Fletcher (University of Illinois at Urbana-Champaign), Carl A. Gunter (University of Illinois at Urbana-Champaign)

Read More

Flexsealing BGP Against Route Leaks: Peerlock Active Measurement and...

Tyler McDaniel (University of Tennessee, Knoxville), Jared M. Smith (University of Tennessee, Knoxville), Max Schuchard (University of Tennessee, Knoxville)

Read More

DNS Privacy Vs : Confronting protocol design trade offs...

Mallory Knodel (Center for Democracy and Technology), Shivan Sahib (Salesforce)

Read More