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SUMMARY:CIS Seminar:"Improving the Privacy\, Scalability\, and Ecological Impact of Blockchains"
DESCRIPTION:Blockchains are an exciting area of research that touches on many areas of Computer Science and beyond.   This technology has the potential to enable a fast\, cheap\, and private financial system based on distributed consensus and cryptography\, instead of trusted parties.  Despite this potential\, the reality still shows severe limitations of blockchains: (i) transactions can cost hundreds of dollar and take minutes to confirm\, (ii) some blockchains offer little privacy\, and (iii) proof-of-work consensus consumes too much energy.  In this talk\, I will discuss powerful techniques that follow a prover paradigm and can mitigate these limitations.  The first technique\, called Bulletproofs\, is a general-purpose zero-knowledge proof system that is specifically designed to enable confidential blockchain transactions. Bulletproofs requires minimal trust assumptions and gives the shortest zero-knowledge proofs without trusted setup. The system is widely deployed and powers tens of thousands of private blockchain transactions per day.   The second technique\, called inner pairing products\, is a way to aggregate many zero knowledge proofs into a single short proof. This can significantly reduce on-chain data\, leading to a significant increase in transactions per second that the chain can process.   The third technique is a new concept called a verifiable delay function (VDF) that is vital for permission-less and eco-friendly consensus. VDFs are already deployed in Filecoin and Chia\, and are planned for Ethereum 2.0\, the upcoming upgrade to Ethereum.
URL:https://seasevents.nmsdev7.com/event/cis-seminarimproving-the-privacy-scalability-and-ecological-impact-of-blockchains/
LOCATION:Wu and Chen Auditorium (Room 101)\, Levine Hall\, 3330 Walnut Street\, Philadelphia\, PA\, 19104\, United States
ORGANIZER;CN="Computer and Information Science":MAILTO:cherylh@cis.upenn.edu
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