Advertisement

Fawkescoin

A Cryptocurrency Without Public-Key Cryptography
  • Joseph BonneauEmail author
  • Andrew Miller
Conference paper
Part of the Lecture Notes in Computer Science book series (LNCS, volume 8809)

Abstract

We present, Fawkescoin, a simple cryptocurrency using no public-key cryptography. Our proposal utilizes the distributed consensus mechanism of Bitcoin but for transactions replaces Bitcoin’s ECDSA signatures with hash-based Guy Fawkes signatures. While this introduces a number of complexities, it demonstrates that a distributed cryptocurrency is in fact possible with only symmetric cryptographic operations with no dramatic loss of efficiency overall and several efficiency gains.

Keywords

Hash Function Signature Scheme Elliptic Curve Cryptography Transfer Message Digital Currency 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

References

  1. 1.
    Anderson, R., Bergadano, F., Crispo, B., Lee, J.H., Manifavas, C., Needham, R.: A new family of authentication protocols. ACM SIGOPS Oper. Syst. Rev. 32(4), 9–20 (1998)CrossRefGoogle Scholar
  2. 2.
    Bertoni, G., Daemen, J., Peeters, M., Van Assche, G.: Keccak sponge function family main document. Submission to NIST (Round 2) 3 (2009)Google Scholar
  3. 3.
    Coron, J.-S., Dodis, Y., Malinaud, C., Puniya, P.: Merkle-Damgård revisited: how to construct a hash function. In: Shoup, V. (ed.) CRYPTO 2005. LNCS, vol. 3621, pp. 430–448. Springer, Heidelberg (2005)CrossRefGoogle Scholar
  4. 4.
    Eyal, I., Sirer, E.G.: Majority is not enough: Bitcoin mining is vulnerable. In: Financial Cryptography (2014)Google Scholar
  5. 5.
    Lamport, L.: Constructing digital signatures from a one-way function. Technical report CSL-98, SRI International Palo Alto (1979)Google Scholar
  6. 6.
    Laurie, B.: Decentralised currencies are probably impossible but let’s at least make them efficient (2011)Google Scholar
  7. 7.
    Maxwell, G.: CoinJoin: Bitcoin privacy for the real world, August 2013. https://bitcointalk.org/index.php?topic=279249.0
  8. 8.
    Merkle, R.C.: A certified digital signature. In: Brassard, G. (ed.) CRYPTO 1989. LNCS, vol. 435, pp. 218–238. Springer, Heidelberg (1990)Google Scholar
  9. 9.
    Nakamoto, S.: Bitcoin: a peer-to-peer electionic cash system (2008)Google Scholar
  10. 10.
    Sompolinsky, Y., Zohar, A.: Accelerating Bitcoin’s transaction processing. Fast Money Grows on Trees, Not Chains. Cryptology ePrint Archive, Report 2013/881 (2013). http://eprint.iacr.org/

Copyright information

© Springer International Publishing Switzerland 2014

Authors and Affiliations

  1. 1.Princeton UniversityPrincetonUSA
  2. 2.University of MarylandCollege ParkUSA

Personalised recommendations