Generic-Group Delay Functions Require Hidden-Order Groups

Abstract

Despite the fundamental importance of delay functions, underlying both the classic notion of a time-lock puzzle and the more recent notion of a verifiable delay function, the only known delay function that offers both sufficient structure for realizing these two notions and a realistic level of practicality is the “iterated squaring” construction of Rivest, Shamir and Wagner. This construction, however, is based on rather strong assumptions in groups of hidden orders, such as the RSA group (which requires a trusted setup) or the class group of an imaginary quadratic number field (which is still somewhat insufficiently explored from the cryptographic perspective). For more than two decades, the challenge of constructing delay functions in groups of known orders, admitting a variety of well-studied instantiations, has eluded the cryptography community.