The Digital Currency Initiative hosts it’s weekly research presentation series. Invited speakers and DCI affiliates present on their projects and other relevant research.
Wednesday’s 3:00-4:00pm ET
Who: Gert-Jaap Glasbergen - DCI Software Developer
Title: 'B_Verify: Scalable Non-Equivocation For Managing Public Data'
In environments where there is no trusted third party, ensuring data integrity and consistency is challenging because of the possibility a server could equivocate, or show two different sequences of events to different users. In this work we present B_Verify, a protocol to practically and scalably prove non-equivocation using Bitcoin. B_Verify witnesses logs of statements to Bitcoin, and, under the assumption that no one can double spend transaction outputs, B_Verify guarantees that all clients will see the same sequence of statements. Unlike previous work B_Verify can scale to prevent equivocation for millions of applications: B_Verify can witness thousands of new log statements per second at a cost of fractions of a cent per statement. B_Verify accomplishes this by using an untrusted server incentivized by an smart contract to witness many new log statements with a single Bitcoin transaction. Users in B_Verify maintain small proofs of non- equivocation which require them to download only kilobytes of data per day. We implemented a prototype of B_Verify in Go and show that it can track 10M logs with the same Bitcoin fees previous work required to track one. We also provide a pollution monitoring application that demonstrates B_Verify can scale to many sensors while supporting light-weight clients on low-powered hardware and mobile phones.
Invited guests only: If you are interested in joining the meeting in-person or remotely please contact Jacobsal@media.mit.edu