Security and Privacy Group
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2017-12-11 [ ]

Invited Talk by Pedro Moreno-Sanchez (Purdue University): 19.12.2017, 11:00, HS 11.

Pedro Moreno-Sanchez (Purdue University) talks about "Challenges and Solutions for Security and Privacy in Payment-Channel Networks". Date: 19.12.2017 Time: 11:15 - 12:45 Lecture Hall: HS 11 Paul Ludwik

Title: 

Challenges and Solutions for Security and Privacy in Payment-Channel
Networks

Abstract:


The permisionless consensus protocol in Bitcoin is inherently limited to
less than 10 transactions per second, clearly insufficient to cater a
growing number of users and transactions. Among long-term research
proposals, payment channels (PC) have flourished as a promising approach
to facilitate “off-chain transactions” where transactions are only
committed to the Blockchain when an arbitrator is required. As a
generalization, current efforts leverage a path of active payment
channels from the payer to the payee with enough capacity to settle
their payments, effectively creating a payment-channel network (PCN).

In this talk, I introduce the concept of PCN, a relatively new but
crucial field within the cryptocurrencies domain. Moreover, I show yet
understudied key challenges that must be overcome before a PCN is
deployed in practice. Finally, I lay the foundations for security and
privacy for PCNs from the prism of not only payments but also the
usually omitted yet crucial routing operation. Given that, I believe
that this talk represents a valuable introductory point for the
non-knowledgeable part of the community as well as identifies open
questions for several follow-up works. In fact, we conclude this talk
presenting challenging open research questions such as are there other
inevitable tradeoffs as that between privacy and concurrency?; what are
other cryptographic constructions that enable privacy-preserving
payments in PCN?; is there a minimal cryptographic assumption that
suffices to build secure and privacy-preserving payments in PCNs?.

Bio:
Pedro Moreno-Sanchez is a fifth year PhD student in the Department of
Computer Science at Purdue University, which is located in the state of
Indiana (USA). His advisor is Aniket Kate. Before moving to Purdue
University in August 2015, he started his PhD studies at Saarland
University in April 2013 under the supervision of Aniket Kate.

Pedro Moreno-Sanchez has been an intern research at IBM Research -
Zurich (Switzerland) in 2017 under the supervision of Christian Cachin;
at Ripple (USA) in 2016 under the supervision of Stefan Thomas; and at
Philips Research Europe (The Netherlands) under the supervision of Oscar
Garcia-Morchon and Rafael Marin-Lopez. He has recently received the Emil
Stefanov Fellowship in Computer Science and the CERIAS/Intel Research
Assistantship. He received his bachelors and masters from University of
Murcia (UM) (Spain) in 2011 and 2013 respectively.