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A Tight Bound on Multiple Spending in Decentralized Cryptocurrencies

Authors João Paulo Bezerra , Petr Kuznetsov

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João Paulo Bezerra
  • Télécom Paris, Institut Polytechnique de Paris, France
Petr Kuznetsov
  • Télécom Paris, Institut Polytechnique de Paris, France

Acknowledgements

This work was supported by TrustShare Innovation Chair.

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João Paulo Bezerra and Petr Kuznetsov. A Tight Bound on Multiple Spending in Decentralized Cryptocurrencies. In 27th International Conference on Principles of Distributed Systems (OPODIS 2023). Leibniz International Proceedings in Informatics (LIPIcs), Volume 286, pp. 31:1-31:19, Schloss Dagstuhl – Leibniz-Zentrum für Informatik (2024)
https://doi.org/10.4230/LIPIcs.OPODIS.2023.31

Abstract

The last decade has seen a variety of Asset-Transfer systems designed for decentralized environments. The major problem these systems address is double-spending, and solving it inherently imposes strong trust assumptions on the system participants. In this paper, we take a non-orthodox approach to the double-spending problem that might suit better realistic environments in which these systems are to be deployed. We consider the decentralized trust setting, where each user may independently choose who to trust by forming their local quorums. In this setting, we define k-Spending Asset Transfer, a relaxed version of asset transfer which bounds the number of times a system participant may spend an asset it received. We establish a precise relationship between the decentralized trust assumptions and k, the optimal spending number of the system.

Subject Classification

ACM Subject Classification
  • Theory of computation → Design and analysis of algorithms
Keywords
  • Quorum systems
  • decentralized trust
  • consistency measure
  • asset transfer
  • accountability

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