Explore a groundbreaking approach to super-light clients for cryptocurrencies in this 17-minute IEEE conference talk. Delve into the challenges of growing blockchain sizes and the limitations of Simple Payment Verifying (SPV) clients. Learn about FlyClient, an innovative solution that addresses these issues through efficient sampling techniques and optimized distribution methods. Discover how FlyClient improves upon traditional SPV clients by introducing novel concepts such as finding fork points and querying distribution over weight. Examine the evaluation of FlyClient on the Ethereum network and gain insights into its potential deployment and impact on cryptocurrency ecosystems.
Overview
Syllabus
Intro
Recall: Bitcoin blockchain format
Validity of a blockchain
Validity of a Block Header
Two Valid Blockchains?
Blockchain size: A growing problem
Simple Payment Verifying Client Satoshi'08
Verify Block Headers
Use the Longest Chain Rule
Can verify specific transactions (with help)
SPV Properties and Problems
Flyclient: A different approach to super-light clients
Verifying Transaction MMR proof
Flyclient: Two Heads?
Flyclient Strawman 1: sample constant # of blocks
Flyclient Strawman 1 problem: Forking
Flyclient idea: Find Fork Point
Flyclient: Idea bound forking point
Sampling distribution of randomized protocol
Optimizing Distribution
Querying Distribution over Weight
Non Interactive Flyclient
Evaluation (Ethereum)
Flyclient deployment
Taught by
IEEE Symposium on Security and Privacy
