[Lightning-dev] Paper: A Composable Security Treatment of the Lightning Network

[Orfeas Stefanos Thyfronitis Litos]

Hi all,

The promise for fast, scalable, user-friendly and trustless use of
bitcoin that the Lightning Network offers motivated us to author a paper
where we formalize LN in the cryptographic framework of Universal
Composition and prove its security. It can be found here:
https://eprint.iacr.org/2019/778

We believe that a formal proof of security was needed to specify the
exact operating parameters that safeguard the funds and transactions of
users against arbitrary attackers, to abstract, modularize and validate
the underlying cryptography that is used in LN, to incorporate LN in the
body of cryptographic protocols that have been abstracted within the
Universal Composition framework (and thus can be safely composed and run
in parallel) and to increase the trust of the wider community to LN. We
view this work as a small contribution to the amazing effort that the
Lightning community has expended both on the theoretical and the
practical front throughout the last years.

The paper is authored by my PhD supervisor Prof. Aggelos Kiayias and me.
Any feedback will be greatly appreciated.

Best regards,
Orfeas Stefanos Thyfronitis Litos

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