Blockchain Technology Laboratory

CoinDesk covers "A Composable Security Treatment of the Lightning Network"

The paper by Aggelos Kiayias and Orfeas Litos was covered in an article by Alyssa Hertig at CoinDesk, Bitcoin Lightning Network Specs Pass First ‘Formal’ Security Test, on the 23rd of September 2019.

From CoinDesk: 

"Bitcoin Lightning Network Specs Pass First ‘Formal’ Security Test" 

"A pair of researchers have released the results of a formal verification of bitcoin’s lightning network. 

Lightning is new(ish), experimental, and bugs that could lead to loss of user funds are still being discovered. But even so, the paper – released last month by researchers Aggelos Kiayias and Orfeas Litos from The University of Edinburgh. Kiayias is also the chief scientist for blockchain firm IOHK – brought a dose of good news on the underlying security of the nascent payment network. 

To date, lightning hadn’t been tested mathematically by way of formal security, which is a means of establishing how secure a computer science idea is with the help of mathematics. The paper — “A Composable Security Treatment of the Lightning Network” — describes the lack of formal verification for lightning’s code specification “a dire state of affairs” since lightning is today used to secure real money — at least $8.5 million."

Read the full article at CoinDesk