Welcome to the resource topic for 2022/1717
Title:
Scaling Blockchain-Based Tokens with Joint Cryptographic Accumulators
Authors: Trevor Miller
Abstract:As digital tokens on blockchains such as non-fungible tokens (NFTs)
increase in popularity and scale, the existing interfaces (ERC-721,
ERC-20, and many more) are being exposed for being expensive and
not scalable. As a result, tokens are being forced to be implemented
on alternative blockchains where it is cheaper but less secure. To
offer a solution without making security tradeoffs, we propose
using joint cryptographic accumulators (e.g. joint Merkle trees).
We propose a method of creating such joint accumulators in a
decentralized fashion which is secured by the same set of validating
nodes as existing blockchains. Such accumulators allow the tokens
for certain applications to be implemented using up to 99.99% less of
the blockchain’s resources by outsourcing most of the storage and
computational requirements to the users creating the tokens. This
is done without sacrificing permanence and verifiability of these
tokens. This system achieves optimizations mainly by allowing
certain storage of a blockchain to be used in a cross-application
manner, instead of a per-application manner. Additionally, we show
how it can be beneficial in other areas like privacy-preserving
timestamps or shortening file hashes
ePrint: https://eprint.iacr.org/2022/1717
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