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AMR: autonomous coin mixer with privacy preserving reward distribution

Authors:

Arthur GervaisAuthors Info & Claims

AFT '21: Proceedings of the 3rd ACM Conference on Advances in Financial Technologies

Pages 142 - 155

https://doi.org/10.1145/3479722.3480800

Published: 23 November 2021 Publication History

Abstract

It is well known that users on open blockchains are tracked by an industry providing services to governments, law enforcement, secret services, and alike. While most blockchains do not protect their users' privacy and allow external observers to link transactions and addresses, a growing research interest attempts to design add-on privacy solutions to help users regain their privacy on non-private blockchains.

In this work, we propose to our knowledge the first censorship resilient mixer, which can reward its users in a privacy-preserving manner for participating in the system. Increasing the anonymity set size, and diversity of users, is, as we believe, an important endeavor to raise a mixer's contributed privacy in practice. The paid-out rewards can take the form of governance tokens to decentralize the voting on system parameters, similar to how popular "Decentralized Finance (Defi) farming" protocols operate. Moreover, by leveraging existing Defi lending platforms, AMR is the first mixer design that allows participating clients to earn financial interest on their deposited funds.

Our system AMR is autonomous as it does not rely on any external server or a third party. The evaluation of our AMR implementation shows that the system supports today on Ethereum anonymity set sizes beyond thousands of users, and a capacity of over 66,000 deposits per day, at constant system costs. We provide a formal specification of our zk-SNARK-based AMR system, a privacy and security analysis, implementation, and evaluation with both the MiMC and Poseidon hash functions.

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Cited By

Wahrstätter AErnstberger JYaish AZhou LQin KTsuchiya TSteinhorst SSvetinovic DChristin NBarczentewicz MGervais AChua TNgo CKa-Wei Lee RKumar RLauw H(2024)Blockchain CensorshipProceedings of the ACM Web Conference 202410.1145/3589334.3645431(1632-1643)Online publication date: 13-May-2024
https://dl.acm.org/doi/10.1145/3589334.3645431
Galal HYoussef A(2023)Aegis: Privacy-Preserving Market for Non-Fungible TokensIEEE Transactions on Network Science and Engineering10.1109/TNSE.2022.320542810:1(92-102)Online publication date: 1-Jan-2023
https://doi.org/10.1109/TNSE.2022.3205428
Zhou LXiong XErnstberger JChaliasos SWang ZWang YQin KWattenhofer RSong DGervais A(2023)SoK: Decentralized Finance (DeFi) Attacks2023 IEEE Symposium on Security and Privacy (SP)10.1109/SP46215.2023.10179435(2444-2461)Online publication date: May-2023
https://doi.org/10.1109/SP46215.2023.10179435
Show More Cited By

Index Terms

AMR: autonomous coin mixer with privacy preserving reward distribution
1. Security and privacy
  1. Human and societal aspects of security and privacy
  2. Security services
2. Social and professional topics
  1. Computing / technology policy

Index terms have been assigned to the content through auto-classification.

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cover image ACM Conferences

AFT '21: Proceedings of the 3rd ACM Conference on Advances in Financial Technologies

September 2021

225 pages

ISBN:9781450390828

DOI:10.1145/3479722

Conference Chairs:
Foteini Baldimtsi
George Mason University
,
Tim Roughgarden
Columbia University

Copyright © 2021 Owner/Author.

This work is licensed under a Creative Commons Attribution International 4.0 License.

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Association for Computing Machinery

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Published: 23 November 2021

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AFT '21: 3rd ACM Conference on Advances in Financial Technologies

September 26 - 28, 2021

Virginia, Arlington

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Cited By

Wahrstätter AErnstberger JYaish AZhou LQin KTsuchiya TSteinhorst SSvetinovic DChristin NBarczentewicz MGervais AChua TNgo CKa-Wei Lee RKumar RLauw H(2024)Blockchain CensorshipProceedings of the ACM Web Conference 202410.1145/3589334.3645431(1632-1643)Online publication date: 13-May-2024
https://dl.acm.org/doi/10.1145/3589334.3645431
Galal HYoussef A(2023)Aegis: Privacy-Preserving Market for Non-Fungible TokensIEEE Transactions on Network Science and Engineering10.1109/TNSE.2022.320542810:1(92-102)Online publication date: 1-Jan-2023
https://doi.org/10.1109/TNSE.2022.3205428
Zhou LXiong XErnstberger JChaliasos SWang ZWang YQin KWattenhofer RSong DGervais A(2023)SoK: Decentralized Finance (DeFi) Attacks2023 IEEE Symposium on Security and Privacy (SP)10.1109/SP46215.2023.10179435(2444-2461)Online publication date: May-2023
https://doi.org/10.1109/SP46215.2023.10179435
Tang YXu CZhang CWu YZhu L(2022)Analysis of Address Linkability in Tornado Cash on EthereumCyber Security10.1007/978-981-16-9229-1_3(39-50)Online publication date: 21-Jan-2022
https://doi.org/10.1007/978-981-16-9229-1_3

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