FairBlock: Preventing Blockchain Front-running with Minimal Overheads
FairBlock: Preventing Blockchain Front-running with Minimal Overheads
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DOI:
10.1007/978-3-031-25538-0_14
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发表时间:
2022
影响因子:
10.9
通讯作者:
Peyman Momeni;S. Gorbunov;Bohan Zhang-
中科院分区:
文献类型:
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作者:
Peyman Momeni;S. Gorbunov;Bohan Zhang-
While blockchain systems are quickly gaining popularity, front-running remains a major obstacle to fair exchange. In this paper, we show how to apply identity-based encryption (IBE) to prevent front-running with minimal bandwidth overheads. In our approach, to decrypt a block ofNtransactions, the number of messages sent across the network only grows linearly with the size of decrypting committees,S. That is, to decrypt a set ofNtransactions sequenced at a specific block, a committee only needs to exchangeSdecryption shares (independent ofN). In comparison, previous solutions are based on threshold decryption schemes, where each transaction in a block must be decrypted separately by the committee, resulting in bandwidth overhead of. Along the way, we present a model for fair block processing and build a prototype implementation. We show that on a sample of 1000 messages with 1000 validators our system saves 42.53 MB of bandwidth which is 99.6% less compared with the standard threshold decryption paradigm.