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DOI: 10.4230/LIPIcs.OPODIS.2023.31

A Tight Bound on Multiple Spending in Decentralized Cryptocurrencies

Authors: João Paulo Bezerra and Petr Kuznetsov

Published in: LIPIcs, Volume 286, 27th International Conference on Principles of Distributed Systems (OPODIS 2023)

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.

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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)

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@InProceedings{bezerra_et_al:LIPIcs.OPODIS.2023.31,
  author =	{Bezerra, Jo\~{a}o Paulo and Kuznetsov, Petr},
  title =	{{A Tight Bound on Multiple Spending in Decentralized Cryptocurrencies}},
  booktitle =	{27th International Conference on Principles of Distributed Systems (OPODIS 2023)},
  pages =	{31:1--31:19},
  series =	{Leibniz International Proceedings in Informatics (LIPIcs)},
  ISBN =	{978-3-95977-308-9},
  ISSN =	{1868-8969},
  year =	{2024},
  volume =	{286},
  editor =	{Bessani, Alysson and D\'{e}fago, Xavier and Nakamura, Junya and Wada, Koichi and Yamauchi, Yukiko},
  publisher =	{Schloss Dagstuhl -- Leibniz-Zentrum f{\"u}r Informatik},
  address =	{Dagstuhl, Germany},
  URL =		{https://drops.dagstuhl.de/entities/document/10.4230/LIPIcs.OPODIS.2023.31},
  URN =		{urn:nbn:de:0030-drops-195210},
  doi =		{10.4230/LIPIcs.OPODIS.2023.31},
  annote =	{Keywords: Quorum systems, decentralized trust, consistency measure, asset transfer, accountability}
}

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A Tight Bound on Multiple Spending in Decentralized Cryptocurrencies

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