Fast Isomorphic State Channels
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Dionysis Zindros
27 abr 2021, 7:18:0527/4/21
a decr...@googlegroups.com
Tomorrow, Wednesday, April 28, 2021, 04:00 PM UTC, Sandro Coretti-Drayton from IOHK will present "Fast Isomorphic State Channels".
Abstract: In this talk we’ll look at a construction of isomorphic multi-party state channels, where “isomorphic” refers to directly adopting the layer-one smart contract system; this allows the same code to be used on- and off-chain. The ledger model used is the so-called Extended UTxO (EUTxO) model, which brings Turing-complete smart contracts to the UTXO model first used by Bitcoin.
In order to achieve such state channels, so-called “heads,” an arbitrary set of parties can “commit” a subset of the mainchain UTxO set to a state machine, evolve it offchain with a head protocol, and eventually (or in case of corruption among the parties) return the evolved UTxO set back to the mainchain. The head protocol has smaller round complexity than all previous proposals and enables the state-channel processing to advance on-demand, concurrently, and asynchronously.
We establish strong security properties for the protocol and present and evaluate extensive simulation results that demonstrate that Hydra approaches the physical limits of the network in terms of transaction confirmation time and throughput while keeping storage requirements at the lowest possible.
Join here: https://zoom.us/j/94233926850?pwd=UVlEeW11enNCczJJZVFEbjk0aHQrUT09
Password: drfpv2
More seminars: https://decrypto.org/seminar
Abstract: In this talk we’ll look at a construction of isomorphic multi-party state channels, where “isomorphic” refers to directly adopting the layer-one smart contract system; this allows the same code to be used on- and off-chain. The ledger model used is the so-called Extended UTxO (EUTxO) model, which brings Turing-complete smart contracts to the UTXO model first used by Bitcoin.
In order to achieve such state channels, so-called “heads,” an arbitrary set of parties can “commit” a subset of the mainchain UTxO set to a state machine, evolve it offchain with a head protocol, and eventually (or in case of corruption among the parties) return the evolved UTxO set back to the mainchain. The head protocol has smaller round complexity than all previous proposals and enables the state-channel processing to advance on-demand, concurrently, and asynchronously.
We establish strong security properties for the protocol and present and evaluate extensive simulation results that demonstrate that Hydra approaches the physical limits of the network in terms of transaction confirmation time and throughput while keeping storage requirements at the lowest possible.
Join here: https://zoom.us/j/94233926850?pwd=UVlEeW11enNCczJJZVFEbjk0aHQrUT09
Password: drfpv2
More seminars: https://decrypto.org/seminar
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