(ICBC 2020) MULTAV: A Multi-Chain Token Backed Voting Framework for Decentralized Blockchain Governance

About This Webinar

Abstract: Governance is a critical component in cryptocurrency systems for their sustainable development and evolution. In particular, on-chain governance has attracted a lot of attention in cryptocurrency communities after the hard forks of Bitcoin and Ethereum. The on-chain governance mechanisms offered by the existing cryptocurrencies have been implemented on their own blockchains. This approach, while working well for the established cryptocurrencies, raises certain security concerns for newly launched cryptocurrency projects with small market capitalization and initial circulating supply. To mitigate potential attacks against on-chain governance, we present a multi-chain token backed voting framework named MULTAV in this contribution. The MULTAV framework is able to enhance security of the current on-chain governance practices by enabling token holders to vote on multiple established cryptocurrency systems. The instantiation of the MULTAV framework for electing block producers on the IoTeX network demonstrates its feasibility and effectiveness in practice.

Authors: Xinxin Fan, Qi Chai and Zhi Zhong (IoTeX, USA)

Email: xinxin@iotex.io, raullen@iotex.io, zhi@iotex.io

Who can view: Everyone

Webinar Price: Free

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Xinxin Fan

Building the Modern Services Industry

Dr. Xinxin Fan is the Head of Cryptography at IoTeX, a startup focusing on building the next-generation, blockchain-based Internet of Trusted Things (IoTT) platform. He is responsible for directing the company's strategy and product roadmaps as well as developing the core technologies and IP portfolio. Before joining IoTeX, he was a senior research scientist of Security and Privacy Group at Bosch Research Technology Center North America, where he defined and conducted innovative research on security and privacy for Internet of Things, machine-to-machine communication, cloud computing and data mining. Dr. Xinxin Fan received his Ph.D. in Electrical and Computer Engineering from the University of Waterloo in 2010. He has published 50+ referred research papers in top-tired journals, conferences and workshops in the areas of cryptography and information security and is an inventor of 15 patent filings for innovative information security and privacy-enhancing technologies. He is also a Certified Information Systems Security Professional (CISSP) from (ISC)².

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