CDL - 2020-10-02 - Bonyadi on Platform for Hybrid-Permission Off-Chain Lightning Networks
Channel: UCYBR - UMBC Center for Cybersecurity
Date: 2020-10-02

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 PhD 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.