Towards Creating a Thin Client for Monero

Lee, Kevin

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https://hdl.handle.net/2142/99002 Copy

Description

Title

Towards Creating a Thin Client for Monero

Author(s)

Lee, Kevin

Contributor(s)

Miller, Andrew

Issue Date

2017-12

Keyword(s)

• Cloud Computing
• Verifiable Computation
• Security
• Cryptocurrency

Date of Ingest

2018-01-31T19:41:29Z

Abstract

As an increasing number of users begin to use cryptocurrencies, the number of transactions per day has also been steadily increasing. Users traditionally run full nodes which involve downloading a copy of the blockchain associated with that cryptocurrency and updating it through the network. This method guarantees full security at the cost of greater power consumption and data storage. The recent ubiquity of data connections and low-capacity hardware such as smartphones has only furthered the demand to delegate cryptocurrency-related computations to capable servers. This raises the need to verify results that are returned to a light client by a server, and also to perform conflict resolutions whenever servers disagree upon a query. In this study, we implement the storage of the Monero blockchain as authenticated data structures on powerful servers, and perform computations on the data structures as queries are made or as the blockchain is updated. Experimental results have shown that authenticated data structures can be used to create a secure thin client for Monero, and we conclude with a discussion on the possibility of integrating that thin client into the network.

Type of Resource

text

Genre of Resource

Other

Language

en

Permalink

http://hdl.handle.net/2142/99002

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