time is money! - eth z · 2019-08-15 · time is money! gps. uv radiation [fahrni, kuhn, sommer, w,...
TRANSCRIPT
![Page 1: Time is Money! - ETH Z · 2019-08-15 · Time is Money! GPS. UV Radiation [Fahrni, Kuhn, Sommer, W, Welten, Ubicomp 2011] Wireless Multi-hop Networks. ... MtGox has detected unusual](https://reader035.vdocuments.us/reader035/viewer/2022081405/5f0afe2e7e708231d42e54a6/html5/thumbnails/1.jpg)
ETH Zurich – Distributed Computing – www.disco.ethz.ch
Roger Wattenhofer
Time is Money!
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GPS
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UV Radiation
[Fahrni, Kuhn, Sommer, W, Welten, Ubicomp 2011]
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Wireless Multi-hop Networks
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Synchronization in Networks
Theorem: Impossible to synchronize well,
not even neighbors!
[Lenzen, Locher, W, JACM 2010]
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Network Synchronization in Practice
FTSP PulseSync
[Lenzen, Sommer, W, ACM/IEEE TON 2014]
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FTSP PulseSync
[Lenzen, Sommer, W, ACM/IEEE TON 2014]
Network Synchronization in Practice
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SynchronizeHeart Ratewith Music
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LogicalPhysical
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You probably usedlogical synchronization
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Money
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Bitcoin
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Bank of Bitcoin
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Spending Money
AmountDestination
Signature
Source
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Moving Money
Source Destination Amount
Source Destination Amount
Source Destination Amount
Transaction
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Distributing the Bank
TX
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Propagation Time
[Decker, W, 2013]
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Double-spending
TX
Source Destination Amount
TX’
Source Destination Amount
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Double-spending in the Network
TX TX’
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Distributing the Bank
I am the leader
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Double-spending in the Real World
[Bamert, Decker, Elsen, W, Welten, 2013]
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Where would you inject your transaction?
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Double-spending, the Theory
Player 1: Where to inject original transaction?Player 2: Where to inject copy?
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Really?
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Sometimes, being second is better!
[Meier, Pignolet, Schmid, W, 2014]
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Another Example: Nontransitive Dice
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Transaction Malleability
February 10, 2014: “Addressing Transaction Malleability: MtGox has detected unusual activity on its Bitcoin wallets and performed investigations during the past weeks.”
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Transaction Malleability
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Transaction Malleability in Real Life
386 Bitcoins
[Decker, W, Arxiv, in submission ]
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Summary
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Thank You!Questions & Comments?
www.disco.ethz.ch