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We present cryptocurrency-based lottery protocols that do not require any collateral from the players. Previous protocols for this task required a security deposit that is O(N2) times larger than the bet amount, where N is the number of players. Our protocols are based on a tournament bracket construction, and require only O(logN) rounds. Our lottery protocols thus represent a significant improvement,...
Emerging smart contract systems over decentralized cryptocurrencies allow mutually distrustful parties to transact safely without trusted third parties. In the event of contractual breaches or aborts, the decentralized blockchain ensures that honest parties obtain commensurate compensation. Existing systems, however, lack transactional privacy. All transactions, including flow of money between pseudonyms...
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