[bitcoin-dev] MAD-HTLC
Stanga
stanga at gmail.com
Tue Jun 23 06:41:56 UTC 2020
Hi all,
We'd like to bring to your attention our recent result concerning HTLC.
Here are the technical report and a short post outlining the main points:
* https://arxiv.org/abs/2006.12031
* https://ittayeyal.github.io/2020-06-22-mad-htlc
Essentially, we find that HTLC security relies on miners being altruistic,
or at least myopic. This might be enough for some time, but it took us 150
lines of code to make bitcoind non-myopic.
On the positive side, we discovered an alternative to HTLC that we call
MAD-HTLC, which is provably secure -- everyone's best interest is to behave
as desired.
We've notified relevant teams in advance.
We'll appreciate any comments.
Best,
Itay, Ittay, and Matan
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