Practical Escrow Protocol for Bitcoin

Xiao Yang, Wang Fat Lau, Qingqing Ye, Man Ho Au, Joseph K. Liu, Jacob Cheng

Research output: Journal article publicationJournal articleAcademic researchpeer-review

1 Citation (Scopus)

Abstract

An escrow protocol for Bitcoin allows fair trading using bitcoins. To ensure fairness, the existing proposals made various trade-offs between trust, privacy, and efficiency. In this work, we evaluate the existing escrow protocols for cryptocurrency and propose a practical escrow protocol for Bitcoin that is: (a) computationally efficient; (b) round efficient; and (c) privacy-preserving. The core component of our escrow protocol for Bitcoin is a new verifiably encrypted ECDSA scheme, which may be of independent interest. Furthermore, we implement the escrow protocol for Bitcoin in Bitcoin mainnet, demonstrating the feasibility of our protocol.

Original languageEnglish
Article number9017971
Pages (from-to)3023-3034
Number of pages12
JournalIEEE Transactions on Information Forensics and Security
Volume15
DOIs
Publication statusPublished - 1 Jan 2020

Keywords

  • Bitcoin
  • Escrow protocol
  • verifiably encrypted ECDSA

ASJC Scopus subject areas

  • Safety, Risk, Reliability and Quality
  • Computer Networks and Communications

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