Abstract
We present, Fawkescoin, a simple cryptocurrency using no public-key cryptography. Our proposal utilizes the distributed consensus mechanism of Bitcoin but for transactions replaces Bitcoin’s ECDSA signatures with hash-based Guy Fawkes signatures. While this introduces a number of complexities, it demonstrates that a distributed cryptocurrency is in fact possible with only symmetric cryptographic operations with no dramatic loss of efficiency overall and several efficiency gains.
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Notes
- 1.
Collision resistance is a more challenging property, but this is not necessary here.
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Bonneau, J., Miller, A. (2014). Fawkescoin. In: Christianson, B., Malcolm, J., Matyáš, V., Švenda, P., Stajano, F., Anderson, J. (eds) Security Protocols XXII. Security Protocols 2014. Lecture Notes in Computer Science(), vol 8809. Springer, Cham. https://doi.org/10.1007/978-3-319-12400-1_35
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DOI: https://doi.org/10.1007/978-3-319-12400-1_35
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