Raziel: Private and Verifiable Smart Contracts on Blockchains
This addresses security vulnerabilities like DAO and Gyges attacks for blockchain users, offering a novel solution rather than an incremental improvement.
The paper tackles the problem of ensuring privacy, correctness, and verifiability in smart contracts on blockchains by combining secure multi-party computation and proof-carrying code, demonstrating practical viability with examples like private crowdfundings and investment funds.
Raziel combines secure multi-party computation and proof-carrying code to provide privacy, correctness and verifiability guarantees for smart contracts on blockchains. Effectively solving DAO and Gyges attacks, this paper describes an implementation and presents examples to demonstrate its practical viability (e.g., private and verifiable crowdfundings and investment funds). Additionally, we show how to use Zero-Knowledge Proofs of Proofs (i.e., Proof-Carrying Code certificates) to prove the validity of smart contracts to third parties before their execution without revealing anything else. Finally, we show how miners could get rewarded for generating pre-processing data for secure multi-party computation.