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A Centralized Digital Currency System with Rich Functions

  • Haibo TianEmail author
  • Peiran Luo
  • Yinxue Su
Conference paper
Part of the Lecture Notes in Computer Science book series (LNCS, volume 11821)

Abstract

The developments of cryptocurrencies push central banks of many countries to consider their own digital fiat currencies. As banks are usually taken as a trusted third party, it is unnecessary to rebuild a blockchain system to rebuild trust. However, cryptocurrencies provide many interesting features except the basic financial functions. It is naturally to absorb the interesting parts of cryptocurrencies to the centralized bank system. We here extract a stateful authentication mechanism from the practice of Ethereum and show how to run puzzle and payment channel templates in a centralized system, based on which we may build a fiat currency lighting network to support direct exchanges of users.

Keywords

Digital fiat currency Stateful authentication Payment channel Lighting network 

Notes

Acknowledgment

This work is supported by the National Key R&D Program of China (2017YFB0802500), Guangxi Key Laboratory of Cryptography and Information Security (No. GCIS201711), Natural Science Foundation of China (61672550), Fundamental Research Funds for the Central Universities (No. 17lgjc45). Natural Science Foundation of Guangdong Province of China (2018A0303 130133).

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Copyright information

© Springer Nature Switzerland AG 2019

Authors and Affiliations

  1. 1.Guangdong Key Laboratory of Information Security, School of Data and Computer ScienceSun Yat-Sen UniversityGuangzhouPeople’s Republic of China

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