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Perun: Virtual Payment and State Channel Networks

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Perun: Virtual Payment and State Channel Networks

Duration: 00:24:49

Speaker: Sebastian Faust, Stefan Dziembowski, Lisa Eckey, Kristina Hostakova

Type: Talk

Expertise: Intermediate

Event: Devcon 4

Date: Oct 2018

In this talk, we will present the Perun Network: a general framework of 2nd layer protocols supporting off-chain payments and arbitrary smart contract off-chain execution. Perun allows its users to execute contracts off-chain via complex state channel networks possibly involving many intermediaries over which contract execution can be routed.   One distinctive feature of Perun is that its channels can be virtual, meaning that once a virtual channel is established transactions can be executed even without involvement of the intermediaries. This enables nearly real-time transaction execution with minimal latency at negligible costs. Moreover, privacy of transactions is significantly improved. An additional property of Perun is that its security is backed up by formal proofs using state-of-the-art scientific methods from cryptographic research. Besides presenting the main conceptual ideas of our system, we will outline some of the the major scientific challenges that need to be addressed when designing secure and efficient 2nd layer protocols. Further information available at https://perun.network/

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About the speakers

KH

Kristina Hostakova

LE

Lisa Eckey

SF

Sebastian Faust

Researcher

Sebastian Faust is a professor at the Department of Computer Science at the Technical University of Darmstadt (Germany) since 2017. He heads the group on Applied Cryptography, which focuses on applying the concepts of modern cryptography to new applications. Current main topics of interest are securing cryptographic implementations and developing new blockchain technology for improving scalability and security. Sebastian Faust obtained his doctorate in 2010 at the KU Leuven in Belgium. Afterwards, he was a postdoctoral fellow at Aarhus University and a Marie Curie IEF fellow at the EPFL in Switzerland. He is a recipient of the Emmy Noether grant from the German Science Foundation, a Marie-Curie Intra-European Fellowship and a co-receipient of Ethereum Research grant on the Perun Network. Sebastian has published more than 50 scientific papers at top venues including CRYPTO, EUROCRYPT, ACM CCS and IEEE S&P, and has received the EUROCRYPT 2014 Best paper award.

SD

Stefan Dziembowski

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