Time-Lock Puzzles from Randomized Encodings
summary
Construction produces time-lock puzzles by outputting a succinct randomized encoding of a tiny program that idles for T steps and then emits the message; solving the puzzle just runs the encoder’s public decoder for ~T steps. Security reduces to the existence of some non-parallelizing language: any shallow circuit that recovers the message yields a worst-case decider for that language. The cryptographic lever used is indistinguishability obfuscation (current way to build the encodings).
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chapters (12)
- 0:00Introduction
- 0:20Time-lock encryption concept
- 2:03Time-lock puzzle definition
- 3:58Existing constructions
- 7:20Challenges in construction
- 10:27New approach overview
- 11:57Randomized encodings
- 15:22Construction of new puzzles
- 19:23Complexity assumption
- 22:05Proof intuition
- 26:27Further results and models
- 31:16Open problems and conclusion
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