T-Watch: Towards Timed Execution of Private Transaction in Blockchains
Chao Li, Balaji Palanisamy

TL;DR
T-Watch introduces a decentralized, privacy-preserving system for scheduling timed transactions in Ethereum, significantly reducing costs and enhancing scalability through innovative secret sharing and smart contract protocols.
Contribution
It presents a novel approach combining threshold secret sharing and decentralized smart contracts for private, timed transaction execution in Ethereum.
Findings
Reduces transaction costs by over 90% with pooling.
Ensures privacy of scheduled transactions before execution.
Demonstrates scalability improvements over existing methods.
Abstract
In blockchains such as Bitcoin and Ethereum, transactions represent the primary mechanism that the external world can use to trigger a change of blockchain state. Transactions serve as key sources of evidence and play a vital role in forensic analysis. Timed transaction refers to a specific class of service that enables a user to schedule a transaction to change the blockchain state during a chosen future time-frame. This paper proposes T-Watch, a decentralized and cost-efficient approach for users to schedule timed execution of any type of transaction in Ethereum with privacy guarantees. T-Watch employs a novel combination of threshold secret sharing and decentralized smart contracts. To protect the private elements of a scheduled transaction from getting disclosed before the future time-frame, T-Watch maintains shares of the decryption key of the scheduled transaction using a group of…
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Taxonomy
TopicsBlockchain Technology Applications and Security · Cloud Data Security Solutions · Cryptography and Data Security
