Abstract
Digital notarization is one of the most promising services offered by modern blockchain-based solutions. We present a digital notary design with incremental security and cost reduced with respect to current solutions. A client of the service receives evidence in three steps. In the first step, evidence is received almost immediately, but a lot of trust is required. In the second step, less trust is required, but evidence is received seconds later. Finally, in the third step evidence is received within minutes via a public blockchain.
Highlights
The solution here described was commissioned to provide a customer in the financial sector with evidence to corroborate its statement of the integrity, authenticity, and existence at a given time of its data
The commission was made with the very specific requirement that it should make use of a privately run blockchain-based service anchored to a public blockchain, but at the same time still be capable of working without the private ledger, if it should cease to operate
If the new block has been generated with a trusted consensus algorithm, the data claimed by CC existed and were known to CC
Summary
The solution here described was commissioned to provide a customer in the financial sector with evidence to corroborate its statement of the integrity, authenticity, and existence at a given time of its data. This is closely related to the problems known as secure timestamping and notarization. The commission was made with the very specific requirement that it should make use of a privately run blockchain-based service anchored to a public blockchain, but at the same time still be capable of working without the private ledger, if it should cease to operate We find it interesting to discuss how this design challenge can be met, and what security guarantees it can offer.
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