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Verifying Payment Channels with TLA+

Grundmann, Matthias

Abstract:
Bitcoin introduced a way to perform decentralized payments without a trusted third party. However, Bitcoin does not scale in the number of transactions performed per second. To improve on this, Payment Channel Networks have been proposed that allow parties to securely perform transactions off the blockchain: Two parties create a payment
channel by locking funds in a shared account on the blockchain. Both parties keep the state of how the funds inside the channel are distributed between themselves. The two parties can perform transactions off-chain by updating the ownership of the channel’s funds in their shared state. Each party can close the channel at any time by publishing the latest state on the blockchain which will make the final balance available.

The security model of payment channels assumes the counterparty to be untrusted and adversarial. A dishonest party might close the channel with a favorable outdated state. A protocol for payment channels needs to ensure that such dishonest behavior can be punished. More general, a payment channel protocol should guarantee that a party will finally receive its correct balance on the blockchain if it follows the protocol. ... mehr


Zugehörige Institution(en) am KIT Institut für Informationssicherheit und Verlässlichkeit (KASTEL)
Kompetenzzentrum für angewandte Sicherheitstechnologie (KASTEL)
Publikationstyp Audio & Video
Publikationsdatum 30.09.2021
Sprache Englisch
Identifikator KITopen-ID: 1000139260
Bemerkung zur Veröffentlichung Talk at TLA+ Conference 2021
URL https://www.youtube.com/watch?v=wecVT_4QDcU
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