Author: Joe Miyamoto Philips 2021-02-05 13:02:42
Published on: 2021-02-05T13:02:42+00:00
In a discussion on the Lightning-dev mailing list, Miyamoto proposed using ElGamal encryption to sell not only a discrete log but also an elliptic curve point that meets certain requirements. This includes Keyed Verification Anonymous Credentials (KVAC) used in applications such as WabiSabi and Signal. Lloyd Fournier responded positively to the idea, seeing its potential for anonymous credentials, however, he also pointed out a potential issue where malicious credential servers could identify individuals at the point of payment and selectively steal their money while being honest with everyone else. To address this, atomic exchanges may be necessary in commercial applications to prevent dishonest behavior by servers.In another post on the Lightning-dev mailing list, Miyamoto discusses the potential benefits of using an attribute-based credential system. However, one major obstacle to its widespread use is the inability to charge users anonymously. Additionally, DoS protection is a concern for anonymous applications due to Sybil attacks. Miyamoto suggests that requiring users to commit something "scarce" could mitigate this issue, such as Signal's requirement for users to register their telephone number. The WabiSabi protocol cleverly uses the user's UTXO as a scarce resource.Miyamoto believes that LN-based payment and KVAC-based app are well-suited for solving these problems. In exchange for granting users unlinkable rights to server resources, exchanging credentials in this way could be beneficial. Various links related to the discussion are provided for further reading.
Updated on: 2023-06-01T18:38:25.901898+00:00