By Aragrel - 03.02.2020
Ittay eyal technion
Search for Ittay Eyal's work. SearchSearch. HomeIttay Eyal. Ittay Eyal profile image. Ittay Eyal. Technion - Israel Institute of Technology · Cornell University. Ittay Eyal is an assistant professor in the Department of Electrical Engineering at The Technion, and an associated director at the Initiative for Crypto-Currencies.
Contact Us Teechain: A Secure Blockchain Payment Network Blockchains such as Bitcoin and Ethereum execute payment transactions securely, but their performance is ittay eyal technion by the need for global consensus.
Payment networks overcome this limitation through off-chain transactions. Instead of writing ittay eyal technion ittay eyal technion blockchain for each transaction, they only settle the final payment balances with the underlying blockchain.
When executing ittay eyal technion transactions in current payment networks, parties must access the blockchain within bounded time to detect misbehaving parties that deviate from the protocol.
This opens a window for attacks in which a malicious party can steal funds by deliberately delaying other parties' blockchain access and prevents parties from using payment networks when disconnected from the blockchain.
We click Teechain, the first layer-two payment network that executes off-chain transactions asynchronously with respect to the ittay eyal technion blockchain.
ittay eyal technion
To prevent parties from misbehaving, Teechain uses treasuries, protected by hardware trusted execution environments TEEsto establish off-chain payment channels between parties. Treasuries maintain collateral funds and can exchange transactions efficiently and securely, without interacting with the underlying blockchain.
To mitigate against treasury failures and to avoid having to trust all TEEs, Teechain replicates the state of ittay eyal technion using committee chains, a new variant of chain replication with threshold secret sharing.
Teechain achieves at least a 33x higher transaction throughput than the state-of-the-art Lightning payment network. A machine Teechain deployment ittay eyal technion handle over 1 million Bitcoin transactions per second.
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