vetKeys: How a Blockchain Can Keep Many Secrets

ePrint Report: vetKeys: How a Blockchain Can Keep Many Secrets

Andrea Cerulli, Aisling Connolly, Gregory Neven, Franz-Stefan Preiss, Victor Shoup

We propose a new cryptographic primitive called "verifiably encrypted threshold key derivation" (vetKD) that extends identity-based encryption with a decentralized way of deriving decryption keys. We show how vetKD can be leveraged on modern blockchains to build scalable decentralized applications (or "dapps") for a variety of purposes, including preventing front-running attacks on decentralized finance (DeFi) platforms, end-to-end encryption for decentralized …

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